Tax Rules: Final: 5703-7
5703-7-04 - Option to filing of
declaration of estimated income tax returns by farmers and
fishermen
(A) A farmer or fisherman whose total estimated gross income
is at least two-thirds from farming or fishing, as those
terms are defined and determined under Federal Income Tax
Regulations Sec. 1.6073-1(b)(2) and (3), may, in lieu of
filing the individual declaration of estimated tax as
provided by Section 5747.09, Revised Code, file Ohio personal
income tax returns as provided in paragraph (C) of this rule.
(B) A farmer or fisherman shall use the same option or method
for filing Ohio personal income tax returns as the farmer or
fisherman uses for filing federal income tax returns, unless
request is made to and permission is granted by the Tax
Commissioner to file on a different option or method.
(C) A farmer or fisherman meeting the requirements of
paragraphs (A) and (B) may;
(1) file declaration of estimated tax returns as provided by
Section 5747.09, Revised Code;
OR
(2) file only the annual individual income tax return for a
taxable year, making payment in full of the tax reflected
thereon, on or before the first day of March of the
subsequent year, or, in the case of a fiscal year taxpayer,
on or before the first day of the third month following the
close of the taxpayer's taxable year;
OR
(3)(a) file a declaration of estimated tax, making payment in
full of the tax reflected thereon, on or before January 15 of
the year following the taxable year, or, in the case of a
fiscal year taxpayer, on or before the fifteenth day of the
first month following the close of the taxpayer's taxable
year;
and
(b) file the annual individual income tax return on or before
the fifteenth day of April of the year following the taxable
year, or, in the case of a fiscal year taxpayer, on or before
the fifteenth day of the fourth month following the close of
the taxpayer's taxable year.
Effective: 4-3-72 as TX-47-04
Promulgated under: 5703.14