Ohio Code 5751.091 – Megaproject supplier exclusion clawback
(A) If a taxpayer excludes from its taxable gross receipts amounts described under division (F)(2)(oo) or (pp) of section 5751.01 of the Revised Code for a tax period in which the taxpayer does not qualify for that exclusion for any portion of that tax period, the taxpayer shall remit to the tax commissioner a payment equal to the product of the following: (a) the cost of all property received in this state by a megaproject operator from the taxpayer during that tax period, multiplied by (b) the tax rate prescribed in division (A) of section 5751.03 of the Revised Code. The charge shall be levied and collected as a tax imposed under this chapter.
Terms Used In Ohio Code 5751.091
- gross receipts: includes only the portion of any fee for the service of a real estate broker, or service of a real estate salesperson associated with that broker, that is retained by the broker and not paid to an associated real estate salesperson or another real estate broker. See Ohio Code 5751.01
- Property: means real and personal property. See Ohio Code 1.59
- Received: includes amounts accrued under the accrual method of accounting. See Ohio Code 5751.01
- state: means the state of Ohio. See Ohio Code 1.59
- Tax period: means the calendar quarter or calendar year on the basis of which a taxpayer is required to pay the tax imposed under this chapter. See Ohio Code 5751.01
- Taxable gross receipts: means gross receipts sitused to this state under section 5751. See Ohio Code 5751.01
- Taxpayer: means any person, or any group of persons in the case of a consolidated elected taxpayer or combined taxpayer treated as one taxpayer, required to register or pay tax under this chapter. See Ohio Code 5751.01
(B) A taxpayer required to remit a payment under division (A) of this section for three consecutive calendar years may not exclude from the taxpayer’s taxable gross receipts any amounts described in division (F)(2)(oo) or (pp) of section 5751.01 of the Revised Code for any tax period in any following calendar year.
Last updated July 6, 2022 at 9:20 AM