Tax Rules: Final: 5703-5
5703-5-10 - Corporate franchise tax;
accounts maintained under Statement of Financial Accounting
Standards No. 106
For purposes of determining the value of its issued and
outstanding shares of stock under division (A) of section
5733.05 of the Revised Code, a taxpayer is not required to
add to its net worth as a reserve any account, whether shown
on the taxpayer's books as a liability or a reserve, that
results from and is maintained in accordance with "Statement
of Financial Accounting Standards No. 106" issued by the
"Financial Accounting Standards Board."
This rule does not apply to any account for taxes. Rule
5703-5-05 of the Administrative Code prescribes the
excludability of taxes.
Effective: 11-27-94
Promulgated under: 5703.14
Authorized by: 5703.05
Amplifies: 5733.05