Tax Rules: Final: 5703-3
5703-3-31 - Personal property tax
valuation of completed goods owned by the manufacturer-lessor
and held for lease or on lease to others
As a result of the Ohio supreme court decision in "Boothe
Financial Corp. v. Lindley," 6 Ohio St. 3d 247 (1983), for
purposes of preparing and filing Ohio personal property tax
returns, the prima facie true value of completed goods owned
by the manufacturer-lessor and held for lease or on lease to
others shall be the price at which the property would be sold
outright to the lessee prior to the commencement of lease
payments, less the appropriate annual true value allowance.
Effective: 12-30-84
Promulgated under: 5703.14
Authorized by: 5703.05
Amplifies: 5703.14, 5711.18, 5711