Ohio Administrative Code › Title 122:24 - InvestOhio Program › Chapter 122:24-1 - General Provisions › Section 122:24-1-03 - Registration process

Current through all regulations passed and filed through July 1, 2024
(A)
			 There are two parties that are required to register with the
			 development services agency as part of the process of
			 issuing a small business investment certificate, the eligible investor and the
			 small business enterprise. Registration shall be accomplished using the Ohio
			 business gateway at:
http://business.ohio.gov
, or the website
			 address located at:
http://invest.ohio.gov
.
(B) In order to register as an eligible
			 investor with the investOhio program in accordance with paragraph (A) of this
			 rule, at the location denoted in paragraph (A) of this rule, the following
			 information must be provided: the entity type; its name and address; email
			 address; social security number or federal employer identification number; an
			 acknowledgement that the investment must be for the acquisition of capital
			 stock or other equity interest in a small business enterprise; and such
			 additional information as the director may deem to be necessary.
(C) When the registration process has been
			 completed, pursuant to this rule, an investOhio user ID will be issued. This
			 number will be used to identify the eligible investor throughout the investOhio
			 program. The investOhio user ID is used to match the eligible investor up to
			 qualifying investments, as defined by division (A)(2) of section
			  122.86 
			 of the Revised Code. If an eligible investor makes multiple investments with
			 the same or different small business enterprises, the same investOhio user ID
			 will be used for each application.
(D) In order to register as a small business
			 enterprise with the investOhio program in accordance with paragraph (A) of this
			 rule, at the location denoted in paragraph (A) of this rule, a corporation,
			 pass-through entity or other person must provide the following information: the
			 entity type; its name and address; email address; social security number or
			 federal employer identification number, the business registration number issued
			 by the Ohio secretary of state; its North America industry classification
			 system code; information relating to meeting the employee requirement, as
			 described in division (A)(1)(b) of section
			  122.86 
			 of the Revised Code; information relating to meeting the sales requirement, as
			 described in division (A)(1)(a) of section
			  122.86 
			 of the Revised Code; information relating to meeting the asset requirement,
			 also as described in division (A)(1)(a) of section
			  122.86 
			 of the Revised Code; and such additional information as the director may deem
			 to be necessary.
(E) When the
			 registration process has been completed, an investOhio user ID will be issued.
			 This number will be used to identify the small business enterprise throughout
			 the investOhio program. The investOhio user ID is used to match the small
			 business enterprise with qualifying investments, as defined in division (A)(2)
			 of section
			  122.86 
			 of the Revised Code. If a small business enterprise accepts multiple qualifying
			 investments with the same or different eligible investors, the same investOhio
			 user ID will be used for each application.
(F) All registrants are required to update
			 their registration information if changes occur. Each party to a qualifying
			 investment must affirm the accuracy of this information in the application
			 process as described in rule 122:24-1-04 of  the Administrative Code.
(G) The
			 act of registration alone does not entitle either an eligible investor or a
			 small business entity to a tax credit under the investOhio program.