reglab/statecodes huggingface dataset:
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5723 | Forfeited Lands › Section 5723.05 | Advertisement by County Auditor.

Effective:
September 29, 2011
Latest Legislation:
House Bill 153 - 129th General Assembly
If the taxes, assessments, charges, penalties, interest, and costs due on the forfeited lands have not been paid when the county auditor fixes the date for the sale of forfeited lands, the auditor shall give notice of them once a week for two consecutive weeks prior to the date fixed by the auditor for the sale, as provided in section 5721.03 of the Revised Code. The notice shall state that if the taxes, assessments, charges, penalties, interest, and costs charged against the lands forfeited to the state for nonpayment of taxes are not paid into the county treasury, and the county treasurer's receipt produced for the payment before the time specified in the notice for the sale of the lands, which day shall be named in the notice, each forfeited tract on which the taxes, assessments, charges, penalties, interest, and costs remain unpaid will be offered for sale beginning on the date set by the auditor, at the courthouse in the county, in order to satisfy the unpaid taxes, assessments, charges, penalties, interest, and costs, and that the sale will continue from day to day until each of the tracts is sold or offered for sale.
The notice also shall state that, if the forfeited land is sold for an amount that is less than the amount of the delinquent taxes, assessments, charges, penalties, and interest against it, and, if division (B)(2) of section 5721.17 of the Revised Code is applicable, any notes issued by a receiver pursuant to division (F) of section 3767.41 of the Revised Code and any receiver's lien as defined in division (C)(4) of section 5721.18 of the Revised Code, the court, in a separate order, may enter a deficiency judgment against the last owner of record of the land before its forfeiture to the state, for the amount of the difference; and that, if that owner of record is a corporation, the court may enter the deficiency judgment against the stockholder holding a majority of that corporation's stock.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5723 | Forfeited Lands › Section 5723.07 | Readvertisement of Unsold Lands.

Effective:
March 27, 1991
Latest Legislation:
House Bill 576 - 118th General Assembly
After the county auditor has closed his sale of forfeited lands, if any tract or parcel of land has been offered for sale as provided in section 5723.06 of the Revised Code and the same remains unsold, the auditor, at any time prior to his next sale, may again advertise the tract or parcel of land in the manner provided in section 5723.05 of the Revised Code and again offer it for sale.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5723 | Forfeited Lands › Section 5723.09 | Title of State Is Valid.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
No title of the state to lands acquired under section 5723.08 of the Revised Code is invalid because of any irregularity, informality, or omission of any proceeding under such section, or in any processes of taxation, if such irregularity, informality, or omission does not abrogate the provision for due notice to holders of title, lien, or mortgage to such forfeited lands.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5723 | Forfeited Lands › Section 5723.11 | Payment of Excess Proceeds of Sale to Owner - Civil Action to Determine Owner.

Effective:
April 7, 2009
Latest Legislation:
Senate Bill 353 - 127th General Assembly
If any forfeited lands are sold for a greater sum than the amount of the tax, assessment, penalty, interest, and costs of sale, the county auditor shall charge the county treasurer separately in each case, in the name of the supposed owner, with the excess above such amount. The treasurer shall retain such excess in the treasury for the proper owner of the forfeited lands, and upon demand by such owner, within one year from the day of sale, shall pay the excess to the owner. After that one year, the treasurer shall dispose of any excess according to law or, if a county land reutilization corporation organized under Chapter 1724. of the Revised Code exists in the county, shall pay the amount to the corporation. Such money shall be used for the corporation's public purposes.
If the treasurer, upon demand, is not fully satisfied as to the right of the person demanding to receive such excess sum or if there are several different claimants, the treasurer shall commence a civil action by filing a petition of interpleader in the court of common pleas of the county where the land was sold, wherein the treasurer shall make the person claiming the excess, and the state, defendants, and the action shall proceed as other civil actions. The costs of the proceedings shall be paid by the person claiming the excess, as the court orders. The prosecuting attorney shall prosecute the action, in behalf of the treasurer.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5723 | Forfeited Lands › Section 5723.13 | Action on Validity of Title.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
Whenever real property in this state is sold under sections 5721.01 to 5721.28, inclusive, or 5723.01 to 5723.19, inclusive, of the Revised Code, no action shall be commenced, nor shall any defense be set up to question the validity of the title of the purchasers at such sale for any irregularity, informality, or omission in the proceedings relative to the foreclosure, forfeiture, or sale, unless such action is commenced or defense set up within one year after the deed to such property is filed for record.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5723 | Forfeited Lands › Section 5723.14 | Sale Void if Taxes Are Paid.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
The sale of any tract or lot of land under sections 5723.01 to 5723.19, inclusive, of the Revised Code, on which the taxes and assessments have been regularly paid previous to such sale, is void, and the purchaser, his heirs, or assigns, on producing the certificate of sale to the county auditor shall have his money refunded from the county treasury.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5723 | Forfeited Lands › Section 5723.15 | Purchasers May Have Partition.

Effective:
April 4, 1985
Latest Legislation:
Senate Bill 201 - 115th General Assembly
Any person claiming any land, inlot, outlot, or part of lot, by virtue of a sale made under sections 5723.01 to 5723.19 of the Revised Code, as tenant in common with any other person, may apply for a partition in the manner provided by law for the partition of real estate. On presenting the county auditor's deed, the court, before which application for such partition is made, shall set off to such person the land claimed in the deed as his share in the manner prescribed by law for the partition of estates in lands, tenements, or hereditaments of joint tenants pursuant to a joint tenancy created prior to the effective date of this amendment, or of tenants with a right of survivorship, tenants in common, and coparceners.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5723 | Forfeited Lands › Section 5723.16 | Purchaser Deemed the Assignee of the State.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
The purchaser of forfeited lands, his heirs or assigns, from the day of such purchase, shall be held in all courts as the assignee of the state. The amount paid by such purchaser for said land at such tax sale, with all taxes afterward paid thereon by such purchaser, his heirs or assigns, with interest thereon, shall be a lien on said land, and may be enforced as any other lien.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5723 | Forfeited Lands › Section 5723.17 | Refund if Sale Is Invalid.

Effective:
September 21, 1982
Latest Legislation:
House Bill 379 - 114th General Assembly
When the claimant of any lands sold for the nonpayment of taxes, assessments, penalties, interest, and costs, or his heirs or assigns, recovers the land sold, by reason of the invalidity of such sale, such claimant, or his heirs or assigns, shall refund to the purchaser, or his heirs or assigns, the amount of the purchase price, with all other taxes, assessments, penalties, interest, and costs paid by such purchaser, or his heirs or assigns to the time of such recovery. Such sum shall be paid to such purchaser entitled thereto, before he is evicted by any claimant so recovering such land. This section does not prevent a purchaser from obtaining the value of any improvements made upon said land under sections 5303.07 to 5303.17 of the Revised Code.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5723 | Forfeited Lands › Section 5723.19 | Issuance of Deed When Certificate Lost.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
If a certificate issued to a purchaser of lands sold at a county auditor's sale has been mislaid, destroyed, or lost, and that fact is shown to the auditor, and no deed is executed therefor, the auditor being fully satisfied from evidence of the existence and loss of such certificate, on application for that purpose, shall make and execute to such purchaser a good and sufficient deed of conveyance for such tract of land. Such deed shall be valid to all intents and purposes as if such certificate had not been mislaid, destroyed, or lost.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.02 | Annual Report.

Effective:
March 27, 2013
Latest Legislation:
House Bill 510 - 129th General Assembly
For report years prior to 2014, the cashier or other principal accounting officer of each bank, the secretary or other principal accounting officer of each other incorporated financial institution, and the manager or owner of each unincorporated financial institution shall return to the department of taxation between the first and second Mondays of March, annually, a report exhibiting in detail, and under appropriate heads, the resources and liabilities of such institution at the close of business on the thirty-first day of December next preceding.
The report of each financial institution shall also show the aggregate balances of the taxable deposits of its depositors in each county in which the institution maintained an office for the receipt of deposits, at the end of business on the day fixed by the tax commissioner pursuant to section 5725.05 of the Revised Code. The report shall show also the names and addresses of all depositors whose deposits were wholly withdrawn from such institution between the day so fixed and the date on which notice of the fixing was received by such institution, or if no such notice was received, then between the day fixed and the first day of January next following, and the amount of taxable deposits of each such depositor on the day fixed.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.03 | Return of Deposits by Financial Institutions.

Effective:
October 1, 1953
Latest Legislation:
Senate Bill 361 - 100th General Assembly
The deposits required to be returned by financial institutions pursuant to sections 5725.01 to 5725.26, inclusive, of the Revised Code, include all deposits as defined by section 5701.05 of the Revised Code to the extent that such deposits are made taxable by section 5709.02 of the Revised Code, except:
(A) Deposits belonging to the federal government or any instrumentality thereof;
(B) Deposits to the extent of advances or advance payments made under any contract entered into by the federal government or any instrumentality thereof for the production of materials or supplies, or the furnishing of services pursuant to authority of any act to further the war effort;
(C) Deposits belonging to the state or any county, municipal corporation, school district, township, or other subdivision thereof, or to any other financial institution, dealer in intangibles, domestic insurance company, or institution used exclusively for charitable purposes, or proceeds of loans which have been credited to the borrower but not disbursed, or advances by borrowers for the subsequent payment of specific obligations. If any deposit of any class required to be returned consists in whole or in part of an amount representing uncollected checks and other uncollected items credited thereto, one half of the amount so represented shall be considered as withdrawable and shall be included in arriving at the aggregate balance of taxable deposits required to be returned, whether or not the depositor is in fact permitted to make withdrawals against the amount so represented and credited.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.05 | Duty of Tax Commissioner to Fix Listing Day for Deposits - Notice.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
On or before the third day of December, annually, the tax commissioner shall fix the day as of which the taxable deposits in financial institutions shall be listed and assessed. The day fixed shall be between the first and the thirtieth day of November, and the action of the commissioner shall be taken not more than three days after the day fixed. Notice of such action by the commissioner shall be immediately given to each financial institution and to the county auditor of each county in the manner provided in section 5703.37 of the Revised Code, and the date fixed shall be printed or stamped on the forms of return to be made by all financial institutions. The commissioner shall also give immediate notice, by collect telegram, to those financial institutions or persons that have filed a request for this service with the commissioner. The dates fixed by this section for the action of the commissioner are directory, and if through inadvertence or mistake such action is not taken at the time prescribed, or the notice required to be given to a financial institution or a county auditor is not duly given, the remaining requirements of sections 5725.01 to 5725.26 of the Revised Code, and the validity of any assessment made hereunder shall not be affected.
Last updated September 12, 2023 at 12:05 PM
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.07 | Assessments by Tax Commissioner.

Effective:
January 1, 1983
Latest Legislation:
House Bill 694 - 114th General Assembly
Upon receiving the report required from a financial institution by section 5725.02 of the Revised Code, the tax commissioner shall ascertain and assess the amount of taxable deposits of such institution in each county in which the institution maintained an office for the receipt of deposits. Such amounts shall be assessed in the name of such financial institution except that the amounts of the taxable deposits wholly withdrawn from each such institution within the times mentioned in section 5725.02 of the Revised Code, and separately set forth in such report, shall be subtracted from the amount of taxable deposits so assessed, and separately assessed in the names of such respective depositors.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.08 | Certificate of Assessment of Financial Institutions - Certificate of Abatement.

Effective:
July 1, 1985
Latest Legislation:
House Bill 201 - 116th General Assembly
On or before the first Monday of June, annually, the tax commissioner shall certify to the treasurer of state the assessment of each financial institution located in the state, showing separately the county in which the institution's principal office is located and the amount of taxable deposits of branches in each county other than that in which the principal office is located, and the commissioner shall certify to each county auditor the assessment of each taxable deposit separately assessed in the name of a depositor residing in his county. The treasurer of state shall place the amounts so certified on the intangible property tax list in his office. The county auditor shall place the amounts so certified on the classified tax list and duplicate of his county in the names of the depositors represented by such certificates.
Any certificate of abatement issued pursuant to section 5703.05 of the Revised Code for the overpayment of the deposits tax may be tendered by the payee or transferee thereof to the treasurer of state as payment for any taxes allocable to the county in which the claim for overpayment arose.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.09 | Tax Commissioner to Make Report if Financial Institution Fails to Do So.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
If a financial institution fails to make and furnish to the tax commissioner the report required by section 5725.02 of the Revised Code, within the time fixed by said section, the commissioner shall examine the books of the financial institution, and any officer or agent thereof under oath, and such other persons as he deems proper, and make such report. The board of tax appeals and the court of common pleas of the county shall exercise like powers in aid of the commissioner in the performance of his duties under this section, as authorized by law as to any other law which the commissioner is required to administer. The report made out by the commissioner shall stand as the report required to be made by the officer, manager, or owner of the financial institution.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.10 | Powers and Duties of Tax Commissioner.

Effective:
July 1, 1987
Latest Legislation:
House Bill 171 - 117th General Assembly
The tax commissioner shall prescribe the forms of returns to be made by financial institutions and dealers in intangibles, consistently with this chapter, and may adopt rules, not inconsistent with this chapter, governing the making of returns, and may upon verified application of any such institution or dealer, and for good cause shown, extend the time, not to exceed thirty days, within which the return shall be made. The enumeration in this chapter of facts required to be stated in any return are not exclusive, and the commissioner may require any other statement or propound any question in the forms of returns prescribed by him that is relevant and material for the purpose of enabling the commissioner to make any assessment which he is required by this chapter to make or to assess the taxable property of any other taxpayer, pursuant to Title LVII of the Revised Code, or to administer any laws of this state relating to taxation. Each question propounded shall be answered specifically, and no return shall be accepted until full disclosure has been made as required by the prescribed blank form. This chapter is a law which the commissioner is required to administer within the meaning of sections 5703.17 to 5703.37, 5703.39, 5703.41, and 5703.45 of the Revised Code. Neither the returns mentioned in this section nor any documents required to be filed with those returns shall be open to public inspection.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.12 | Failure to Make Return - False Statement - Forfeiture.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
An officer, manager, or owner of a financial institution who fails to make out and furnish to the tax commissioner the return required by section 5725.02 of the Revised Code, or willfully makes a false statement in such return shall forfeit not more than one hundred dollars, together with the costs and other expenses incurred by the commissioner in obtaining such statement.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.13 | Taxable Property of Dealers in Intangibles.

Effective:
October 1, 1953
Latest Legislation:
House Bill 1 - 100th General Assembly
The following property shall be listed and assessed at its fair value and taxed only in the manner prescribed in sections 5725.01 to 5725.26, inclusive, of the Revised Code:
(A) The shares of the stockholders in an incorporated dealer in intangibles having an actual place of business in this state, to the extent represented by capital employed in this state;
(B) The shares of the stockholders, partners, or members of an unincorporated dealer in intangibles having an actual place of business in this state, the capital stock of which is divided into shares held by the owners, to the extent represented by capital employed in this state;
(C) The property representing capital employed in this state by an unincorporated dealer in intangibles whose capital stock is not divided into shares, having an actual place of business in this state.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.15 | Assessment for Shares and Capital of Dealer in Intangibles.

Effective:
September 10, 2012
Latest Legislation:
House Bill 487 - 129th General Assembly
The report required by section 5725.14 of the Revised Code shall include as taxable property all the shares of the dealer in intangibles, the capital stock of which is divided into shares, representing capital employed in this state, and the value of the property representing the capital, not divided into shares, employed in this state by such dealer in intangibles, according to the aggregate fair value of the capital, surplus, and undivided profits as shown in such report, including in the case of an unincorporated dealer, the value of property converted into nontaxable bonds or securities within the preceding year, without deduction for indebtedness created in the purchase of such nontaxable bonds or securities.
The filing by a dealer of the report required by section 5725.14 of the Revised Code shall be the preliminary assessment of the shares and property listed therein.
If a dealer has separate offices, whether within this state only or within and without this state, the dealer shall list the amount of capital employed in each office in this state, which shall bear the same ratio to the entire capital of such dealer, wherever employed, as the gross receipts of such office bears to the entire gross receipts of such dealer, wherever arising.
The aggregate book value of the capital, surplus, and undivided profits of a dealer in intangibles as shown in such report shall be taken as the fair value thereof for the purpose of the assessment required by this section, unless the commissioner finds that such book value is greater or less than the then fair value of said capital, surplus, and undivided profits. Claim for any deduction from book value of capital, surplus, and undivided profits must be made in writing by the dealer in intangibles at the time of making the dealer's return.
Whenever the commissioner assesses the fair value of the capital, surplus, and undivided profits of a dealer in intangibles at an amount in excess of the value thereof as listed in the dealer's report, or assesses the shares or property of a dealer that fails to file a return, the commissioner shall give notice and proceed as provided in section 5711.31 of the Revised Code.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.151 | Refundable Tax Credit for Owner of Rc 149.311 Certificate.

Effective:
January 1, 2012
Latest Legislation:
House Bill 153 - 129th General Assembly
(A) As used in this section, "certificate owner" has the same meaning as in section 149.311 of the Revised Code.
(B) There is allowed a credit against the tax imposed by section 5707.03 and assessed under section 5725.15 of the Revised Code for a dealer in intangibles subject to that tax that is a certificate owner of a rehabilitation tax credit certificate issued under section 149.311 of the Revised Code. The credit shall equal twenty-five per cent of the dollar amount indicated on the certificate, but the amount of the credit allowed for any dealer for any year shall not exceed five million dollars. The credit shall be claimed in the calendar year specified in the certificate. If the credit exceeds the amount of tax otherwise due in that year, the excess shall be refunded to the dealer but, if any amount of the credit is refunded, the sum of the amount refunded and the amount applied to reduce the tax otherwise due in that year shall not exceed three million dollars. The dealer may carry forward any balance of the credit in excess of the amount claimed in that year for not more than five ensuing years, and shall deduct any amount claimed in any such year from the amount claimed in an ensuing year.
(C) A dealer in intangibles claiming a credit under this section shall retain the rehabilitation tax credit certificate for four years following the end of the year in which the credit was claimed, and shall make the certificate available for inspection by the tax commissioner upon the request of the tax commissioner during that period.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.16 | Certificate of Assessment of Dealers in Intangibles; Collection of Taxes.

Effective:
September 10, 2012
Latest Legislation:
House Bill 510, House Bill 487 - 129th General Assembly
On or before the first Monday of May, annually for return years prior to 2014, the tax commissioner shall certify to the treasurer of state the assessment of the shares or property representing capital, or apportionment of either, of each dealer in intangibles doing business in the state, showing separately the amount representing capital employed in each county.
The treasurer of state shall place the amounts certified on the intangible property tax list in the treasurer of state's office in the names of the dealers represented by those certificates.
The commissioner shall collect, on behalf of the treasurer, the taxes due on the assessments certified pursuant to this section, together with any applicable penalties or interest, in the manner prescribed by section 5725.22 of the Revised Code. The commissioner shall immediately forward to the treasurer any payments received under this section or section 5719.13 of the Revised Code. The treasurer shall credit all such payments against the appropriate amounts on the intangible property tax list in the treasurer's office.
A dealer in intangibles may claim a refund of any overpayment of the tax levied under division (D) of section 5707.03 of the Revised Code by filing an application for final assessment in accordance with section 5711.26 of the Revised Code.
The Legislative Service Commission presents the text of this section as a composite of the section as amended by multiple acts of the General Assembly. This presentation recognizes the principle stated in R.C. 1.52(B) that amendments are to be harmonized if reasonably capable of simultaneous operation.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.18 | Annual Franchise Tax on the Privilege of Being an Insurance Company.

Effective:
September 29, 2013
Latest Legislation:
House Bill 59 - 130th General Assembly
(A) An annual franchise tax on the privilege of being an insurance company is hereby levied on each domestic insurance company. In the month of May, annually, the treasurer of state shall charge for collection from each domestic insurance company a franchise tax in the amount computed in accordance with the following, as applicable:
(1) With respect to a domestic insurance company that is a health insuring corporation, one per cent of all premium rate payments received, exclusive of payments received under the medicare program and exclusive of payments received pursuant to the medicaid program for the period ending September 30, 2009, as reflected in its annual report for the preceding calendar year;
(2) With respect to a domestic insurance company that is not a health insuring corporation, one and four-tenths per cent of the gross amount of premiums received from policies covering risks within this state, exclusive of premiums received under the medicare program and exclusive of payments received pursuant to the medicaid program for the period ending September 30, 2009, as reflected in its annual statement for the preceding calendar year, and, if the company operates a health insuring corporation as a line of business, one per cent of all premium rate payments received from that line of business, exclusive of payments received under the medicare program and exclusive of payments received pursuant to the medicaid program for the period ending September 30, 2009, as reflected in its annual statement for the preceding calendar year.
Domestic insurance companies, including health insuring corporations, receiving payments pursuant to the medicaid program during the period beginning October 1, 2009, and ending December 31, 2009, shall file with the 2009 annual statement to the superintendent a schedule that reflects those payments received pursuant to the medicaid program for that period. The payments reflected in the schedule, plus all other taxable premiums, are subject to the annual franchise tax due to be paid in 2010.
(B) The gross amount of premium rate payments or premiums used to compute the applicable tax in accordance with division (A) of this section is subject to the deductions prescribed by section 5729.03 of the Revised Code for foreign insurance companies. The objects of such tax are those declared in section 5725.24 of the Revised Code, to which only such tax shall be applied.
(C) In no case shall such tax be less than two hundred fifty dollars.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.19 | Issuance of Tax Credits by Ohio Venture Capital Authority.

Effective:
June 5, 2006
Latest Legislation:
Senate Bill 321 - 126th General Assembly
Upon the issuance of a tax credit certificate by the Ohio venture capital authority under section 150.07 of the Revised Code, a refundable credit may be claimed against the tax imposed on a domestic insurance company under section 5725.18 of the Revised Code. The credit shall be claimed in the calendar year specified in the certificate issued by the authority.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.20 | Certification to Treasurer of State by Superintendent of Insurance.

Effective:
July 1, 1985
Latest Legislation:
House Bill 201 - 116th General Assembly
On or before the first Monday of May in each year, the superintendent of insurance shall certify to the treasurer of state the amount of the capital and surplus of each domestic insurance company having capital divided into shares and the surplus of each domestic insurance company not having capital divided into shares, or the amount equal to eight and one-third times the gross amount of premiums received by any such domestic insurance company from policies covering risks within this state during the preceding calendar year after making the deductions prescribed by section 5729.03 of the Revised Code for foreign insurance companies, as reported in the annual statement of the company and approved by the superintendent.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.21 | Report of Valuation of Certificates Filed Annually by Fraternal Benefit Society - Determination of Assets and Liabilities.

Effective:
January 1, 1997
Latest Legislation:
House Bill 468 - 121st General Assembly
A fraternal benefit society organized and existing under the laws of this state that issues insurance certificates, but is exempt from Chapter 3921. of the Revised Code, shall for the purpose of sections 5725.01 to 5725.26 of the Revised Code, file annually with the superintendent of insurance a report of valuation of its certificates, in the form required by the superintendent of fraternal benefit societies subject to the requirements of Chapter 3921. of the Revised Code, and the superintendent shall determine the admitted and nonadmitted assets and liabilities of the fraternal benefit society on the same basis on which the admitted and nonadmitted assets and liabilities of other fraternal benefit societies are determined.
Sections 5725.18 to 5725.21 and section 5725.25 of the Revised Code do not apply to any other domestic insurance company that is not required by law, or by election made pursuant to law, to file annual reports with the superintendent nor to associations or corporations organized not for profit that admit to membership only employees of a person, firm, or corporation or employees of a group of employers engaged in the same or similar lines of business, who seek to provide indemnity among their members for loss from, or to provide a benefit in the event of, accident, sickness, or death of any of their number, whether by means of the exchange of private contracts between themselves or by the exchange of contracts between themselves and a corporation or association created for their protection and not for profit.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.221 | Interest Charged for Late Filing.

Effective:
September 10, 2012
Latest Legislation:
House Bill 487 - 129th General Assembly
For the purposes of this section, interest shall be computed at a rate per calendar month, rounded to the nearest one-hundredth of one per cent, equal to one-twelfth of the rate per annum prescribed by section 5703.47 of the Revised Code for the calendar year that includes the month for which the interest accrues.
(A) When taxes levied by section 3737.71, 5707.03, or 5725.18 of the Revised Code are assessed as the result of a tax return being filed late, the treasurer of state or tax commissioner, as appropriate, shall add interest to the taxes due. The interest shall accrue from the first day of the month following the last day on which such taxes were required to be paid, had the assessment been certified by the date prescribed, to the last day of the month preceding the date on which the assessment was certified, and shall be computed on the taxes due.
(B) If an assessment has been certified pursuant to section 5711.13, 5725.08, 5725.16, 5725.20, or 5725.222 of the Revised Code and an amended or final assessment is certified for the same taxpayer and the same tax year, the treasurer of state or tax commissioner, as appropriate, shall add interest to the deficiency or excess. The interest shall be computed on the excess or deficiency, and shall be accrued in the following manner:
(1) On a deficiency, interest shall accrue from the first day of the month following the last day on which the previous assessment was required to be paid, to the last day of the month preceding the date on which the amended or final assessment is certified;
(2) On an excess, interest shall be allowed from the first day of the month following the date of payment of the previous assessment, to the last day of the month preceding the date on which the amended or final assessment is certified.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.222 | Application for Tax Refund by Domestic Insurance Company.

Effective:
April 3, 2023
Latest Legislation:
House Bill 66 - 134th General Assembly
(A) An application to refund to a domestic insurance company any taxes imposed by section 3737.71 of the Revised Code or amounts imposed under this chapter that are overpaid, paid illegally or erroneously, or paid on any illegal, erroneous, or excessive assessment, with interest thereon as provided by section 5725.221 of the Revised Code, shall be filed with the superintendent of insurance, on the form prescribed by the superintendent, within three years after the date of the illegal, erroneous, or excessive payment. No refund shall be allowed unless an application has been filed in accordance with this section. The time limit imposed under this division may be extended if both the domestic insurance company and the superintendent of insurance agree in writing to the extension.
(B) Except as otherwise provided in this division, the superintendent may make an assessment against a domestic insurance company for any deficiency for the period for which a report, tax return, or tax payment is due for any taxes imposed by section 3737.71 of the Revised Code or this chapter, based on any information in the superintendent's possession. No assessment shall be made against a domestic insurance company more than three years after the later of the final date the report, tax return, or tax payment subject to the assessment was required to be filed or paid, or the date the report or tax return was filed, provided that there shall be no bar if the domestic insurance company failed to file the required report or tax return or if the deficiency results from fraud or any felonious act. The time limit may be extended if both the domestic insurance company and the superintendent agree in writing to the extension. For the purposes of this division, an assessment is made on the date the notification of the assessment is sent by the department of insurance or the date of an invoice for the assessment from the treasurer of state, whichever is earlier.
Last updated March 9, 2023 at 1:54 PM
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.23 | Action to Recover Delinquent Taxes.

Effective:
July 1, 1985
Latest Legislation:
House Bill 201 - 116th General Assembly
Taxes, interest, and penalties may be recovered from a delinquent domestic insurance company or person in an action brought in the name of the state in the court of common pleas of Franklin county or any county in which such company or person has an office or place of business, and such court shall have jurisdiction of such action regardless of the amount involved. The attorney general, on request of the superintendent of insurance or tax commissioner, shall institute such action in the court of common pleas of Franklin county or any other county the superintendent or commissioner directs. In any such action, it shall be sufficient to allege that the tax, interest, and penalty sought to be recovered stand charged on the tax list of domestic insurance company franchise taxes or intangible property taxes in the office of the treasurer of state and have been unpaid for a period of forty-five days after having been placed thereon. Sums recovered in any such action shall be paid into the state treasury and distributed as provided in section 5725.24 of the Revised Code.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.24 | Distribution of Taxes Collected.

Effective:
January 1, 2012
Latest Legislation:
House Bill 153 - 129th General Assembly
(A) The taxes levied by section 5725.18 of the Revised Code and collected pursuant to this chapter shall be paid into the state treasury to the credit of the general revenue fund.
(B) The taxes levied by section 5707.03 of the Revised Code on the value of shares in and capital employed by all dealers in intangibles shall be paid into the state treasury to the credit of the general revenue fund.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.25 | Tax on Real Estate of Domestic Insurance Company.

Effective:
December 13, 2001
Latest Legislation:
House Bill 405 - 124th General Assembly
(A) The real estate of a domestic insurance company shall be taxed in the place where it is located, the same as the real estate of other persons is taxed, but the tax provided for by sections 5725.01 to 5725.26 of the Revised Code, shall be in lieu of all other taxes on the other property and assets of such domestic insurance company, except as provided in division (B) of this section, and of all other taxes, charges, and excises on such domestic insurance companies, and all other taxes on the stockholders, members, or policyholders of such company by reason of their stock or other interest in such insurance company, except as to annuities or the right to receive the proceeds of a policy payable after its maturity in installments, or left with the company at interest. Sections 5725.01 to 5725.26 of the Revised Code do not assess any tax on any foreign insurance company or affect any tax on a foreign insurance company under any laws of this state.
(B) Tangible personal property taxable under Chapter 5711. of the Revised Code shall be subject to taxation if it is owned by a domestic insurance company and leased or held for the purpose of leasing to a person other than an insurance company for use in business.
(C) For reports required to be filed under section 5725.14 of the Revised Code in 2003 and thereafter, nothing in this section shall be construed to exempt the property of any dealer in intangibles under section 5725.13 of the Revised Code from the tax imposed under section 5707.03 of the Revised Code.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.26 | Tax on Real Estate of Financial Institutions and Dealers in Intangibles.

Effective:
March 27, 2013
Latest Legislation:
House Bill 510 - 129th General Assembly
The real estate of a financial institution or dealer in intangibles shall be taxed in the place where it is located, the same as the real estate of persons is taxed, but the taxes provided for in Chapters 5725., 5726., 5733., and 5751. of the Revised Code shall be in lieu of all other taxes on the other property and assets of such institution or dealer, except personal property taxable under Chapter 5711. of the Revised Code and leased, or held for the purpose of leasing, to others if the owner or lessor of the property acquired it for the sole purpose of leasing it to others.
For reports required to be filed under section 5725.14 of the Revised Code in 2003 and thereafter, nothing in this section shall be construed to exempt the property of any dealer in intangibles under section 5725.13 of the Revised Code from the tax imposed under section 5707.03 of the Revised Code.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.32 | Refundable Credit Against Tax on Domestic Insurance Company.

Effective:
June 30, 2005
Latest Legislation:
House Bill 66 - 126th General Assembly
Upon the issuance of a tax credit certificate by the director of development, a refundable credit granted by the tax credit authority under section 122.17 of the Revised Code may be claimed against the tax imposed by section 5725.18 of the Revised Code. The credit shall be claimed in the calendar year specified in the certificate issued by the director of development.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.34 | Tax Credit for Insurance Companies Holding Rehabilitation Tax Credit Certificate.

Effective:
September 29, 2011
Latest Legislation:
House Bill 153 - 129th General Assembly
(A) As used in this section, "certificate owner" has the same meaning as in section 149.311 of the Revised Code.
(B) There is allowed a credit against the tax imposed by section 5725.18 of the Revised Code for an insurance company subject to that tax that is a certificate owner of a rehabilitation tax credit certificate issued under section 149.311 of the Revised Code. The credit shall equal twenty-five per cent of the dollar amount indicated on the certificate, but the amount of the credit allowed for any company for any year shall not exceed five million dollars. The credit shall be claimed in the calendar year specified in the certificate and in the order required under section 5725.98 of the Revised Code. If the credit exceeds the amount of tax otherwise due in that year, the excess shall be refunded to the company but, if any amount of the credit is refunded, the sum of the amount refunded and the amount applied to reduce the tax otherwise due in that year shall not exceed three million dollars. The company may carry forward any balance of the credit in excess of the amount claimed in that year for not more than five ensuing years, and shall deduct any amount claimed in any such year from the amount claimed in an ensuing year.
(C) An insurance company claiming a credit under this section shall retain the rehabilitation tax credit certificate for four years following the end of the year in which the credit was claimed, and shall make the certificate available for inspection by the tax commissioner upon the request of the tax commissioner during that period.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.35 | Transformational Mixed Use Development Tax Credit.

Effective:
March 31, 2021
Latest Legislation:
Senate Bill 39 - 133rd General Assembly
There is allowed a credit against the tax imposed by section 5725.18 of the Revised Code for an insurance company subject to that tax that holds the rights to a tax credit certificate issued under section 122.09 of the Revised Code. The credit shall equal the dollar amount indicated on the certificate. The credit shall be claimed in the calendar year specified in the certificate and in the order required under section 5725.98 of the Revised Code. If the credit exceeds the amount of tax otherwise due in that year, the company may carry forward the excess for not more than five ensuing years, but the amount of the excess credit claimed against the tax for any year shall be deducted from the balance carried forward to the next year.
2023 Ohio Revised Code › Title 57 | Taxation › Chapter 5725 | Financial Institutions; Dealers in Intangibles; Insurance Companies › Section 5725.36 | State Low-Income Housing Tax Credit.

Effective:
October 3, 2023
Latest Legislation:
House Bill 33 - 135th General Assembly
(A) Terms used in this section have the same meanings as in section 175.16 of the Revised Code.
(B) There is allowed a nonrefundable tax credit against the tax imposed by section 5725.18 of the Revised Code for a domestic insurance company that is allocated a credit issued by the executive director of the Ohio housing finance agency under section 175.16 of the Revised Code. The credit equals the amount allocated to such company for the calendar year and reported by the designated reporter on the form prescribed by division (I) of section 175.16 of the Revised Code.
The credit authorized in this section shall be claimed in the order required under section 5725.98 of the Revised Code. If the amount of a credit exceeds the tax otherwise due under section 5725.18 of the Revised Code after deducting all other credits preceding the credit in the order prescribed in section 5725.98 of the Revised Code, the excess may be carried forward for not more than five ensuing calendar years. The amount of the excess credit claimed in any such year shall be deducted from the balance carried forward to the next calendar year.
No credit shall be claimed under this section to the extent the credit was claimed under section 5726.58, 5729.19, or 5747.83 of the Revised Code.
Last updated August 31, 2023 at 4:58 PM