Ohio Administrative Code › Title 122:16 - Retention Tax Credit Program › Chapter 122:16-1 - Business Tax Credit › Section 122:16-1-05 - Reports

Current through all regulations passed and filed through July 1, 2024
(A) Each taxpayer
			 that is party to a tax credit agreement shall report to the director annually
			 during the term of the tax credit the number of full-time equivalent employees
			 employed by the taxpayer at the project site as a result of the project, the
			 total payroll from operations at the project site, the
			 total Ohio employee payroll from operations at the project site, the
			 income tax revenue from operations at the project site, the average hourly wage
			 of full-time equivalent employees, the amount of any transferred payroll during
			 the tax year and any other information the director
			 deems necessary to perform the director's duties under section
			  122.171  of the Revised Code.
			 Each taxpayer's report shall be certified as accurate and complete by the
			 original signature of any authorized officer of the taxpayer.
(B)
								If a taxpayer
			 uses a professional employer organization as defined in section
			  4125.01  of the Revised Code in
			 conjunction with the project as authorized under section
			  4125.042  of the Revised Code,
			 the taxpayer is responsible for collecting all appropriate information from the
			 professional employer organization necessary to complete the report to the
			 director identified in paragraph (A) of this rule and failure to do so will be
			 considered a taxpayer's failure to file.
(C) The taxpayer's
			 annual report shall be postmarked prior to or received by the director no later
			 than March first of each year immediately succeeding the calendar year that is
			 the subject of the annual report.
(D) Each taxpayer
			 shall maintain substantial operations at the project site for a time period
			 consistent with division (E)(3) of section
			  122.171  of the Revised Code.
			 During the post-term reporting period, the taxpayer shall submit an annual
			 certification to the director postmarked prior to or received by the director
			 no later than March first of each year succeeding the calendar year that is the
			 subject of the annual certification. The taxpayer shall submit to the director
			 a certification that includes, but is not limited to, information demonstrating
			 the taxpayer maintains operations at the project site and the total number of
			 full-time equivalent employees at the project site.
(E) Each taxpayer
			 and any professional employer organization utilized in
			 the project shall establish and maintain for at least four years after
			 the conclusion of the post-term reporting period such records of the taxpayer
			 and professional employer organization that
			 substantiate the employment, investment, and operations on which the tax
			 credits are granted and issued. Such records include, but are not limited to,
			 records of personnel, wage records for employees at the project site and
			 conditions of employment. The taxpayer and any
			 professional employer organization shall organize and make available such
			 records for the review and verification by the director or the director's
			 representatives and appropriate state agencies or officials. The taxpayer
			 and any professional employer organization shall
			 permit such officials and their representatives to audit, examine and make
			 excerpts or transcripts from records required to be maintained under this rule
			 at any time during normal business hours upon written notice as often as the
			 director may deem necessary. In the event the director determines a taxpayer
			 has submitted an annual report containing erroneous data or data not supported
			 by the records maintained under this rule, the director may, after providing
			 notice, require the taxpayer to resubmit corrected annual reports for the years
			 in which such reports were filed with the applicable fees described in rule 122:16-1-02 of  the Administrative Code. Thereafter, the director shall issues certificates consistent with the amended data and report such amendment to the tax commissioner.
(F) If a taxpayer fails to file any complete annual
			 report during the term of the tax credit, as described in paragraph (A) of this
			 rule, within one hundred eighty days of the March first deadline, the taxpayer
			 may be deemed to have discontinued operations at the project site and shall be
			 subject to the refund provisions of division (J) of section
			  122.171  of the Revised Code. A
			 complete annual report shall be one that meets the requirements of paragraph
			 (H) of this
			 rule.
(G) If a taxpayer fails to file any complete post-term
			 reporting period annual certification, as described in paragraph (D) of this rule,
			 within one hundred and eighty days of the March first deadline, the taxpayer
			 may be deemed to have discontinued operations at the project site and shall be
			 subject to the refund provisions of division (J) of section
			  122.171  of the Revised Code. A
			 complete annual certification shall be one that meets the requirements of
			 paragraph (H) of this rule.
(H) For the purposes
			 of this rule, a complete annual report or complete annual certification shall
			 mean an annual report or annual certification that complies with the filing
			 timeframes of paragraphs (C) and (D) of this rule and
			 includes all of the information required by paragraphs (A) and (D) of this rule in a
			 manner prescribed by the director.