Legal Resources - Tax Rules

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