Legal Resources - Tax Rules

Tax Rules: Final: 5703-15

5703-15-16 - Cigarette wholesaler inventories and inventory returns

(A) The department of taxation may conduct an inventory of a licensed cigarette wholesale dealer's stock of cigarettes, cigarette tax stamps, meter impressions, and other means of identification, at any time during regular business hours. A copy of the inventory findings shall be left with the wholesale dealer or the dealer's authorized agent or employee.

(B) In addition to the return required by section 5743.03 of the Revised Code, each licensed cigarette wholesale dealer, whose stock has been the subject of an inventory conducted by the department of taxation, shall file with the department of taxation a return showing the dealer's entire purchases and sales of cigarettes, tax stamps, meter impressions, and other means of identification, together with any other information requested by the tax commissioner, for the period from the last day covered by the dealer's preceding tax return through the day on which the inventory was conducted. The return shall be made on a form prescribed by the commissioner which shall be delivered to the dealer at the same time as the inventory report. The return shall be filed on or before the thirty-first day after the inventory is conducted. When an inventory return has been filed pursuant to this paragraph, the dealer's next return required by section 5743.03 of the Revised Code, shall report the purchases and sales for the period from the day after the inventory to the end of the semiannual period.

(C) Remittance of any tax deficiency shall be made with the inventory return required by paragraph (B) of this rule. Failure to file the return shall subject the wholesale dealer to the same penalties mandated by section 5743.03 of the Revised Code for failure to file the return required by that section.

Effective: 9-17-04

Promulgated under: 5703.14

Amplifies: 5703.14, 5743.03, 5743.14

Prior effective dates: 10-28-83