Tax Rules: Final: 5703-5
5703-5-08 - Books from which the
value of issued and outstanding shares of stock is determined
under the net worth basis of the corporation franchise
tax
If a taxpayer keeps books both in accordance with regulatory
accounting principles and in accordance with generally
accepted accounting principles, the value of the taxpayer's
issued and outstanding shares of stock under division (A) of
section 5733.05 of the Revised Code shall be based upon those
books kept in accordance with generally accepted accounting
principles.
Effective: 12-14-84
Promulgated under: 5703.14
Authorized by: 5703.07
Amplifies: 5733.05