Terms Used In Ohio Code > Chapter 5745 - Municipal Taxation of Electric Light Company Income

• Adjusted federal taxable income: means federal taxable income adjusted as follows:

  (1) Deduct intangible income as defined in section 718. See Ohio Code 5745.01

• Another: when used to designate the owner of property which is the subject of an offense, includes not only natural persons but also every other owner of property. See Ohio Code 1.02
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Disregarded entity: means an entity that, for its taxable year, is by default, or has elected to be, disregarded as an entity separate from its owner pursuant to 26 C. See Ohio Code 5745.01
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Federal taxable income: means taxable income, before operating loss deduction and special deductions, as required to be reported for the taxpayer's taxable year under the Internal Revenue Code. See Ohio Code 5745.01
• in writing: includes any representation of words, letters, symbols, or figures; this provision does not affect any law relating to signatures. See Ohio Code 1.59
• Internal Revenue Code: means the "Internal Revenue Code of 1986" 100 Stat. See Ohio Code 5745.01
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Ohio net income: means the amount determined under division (B) of section 5745. See Ohio Code 5745.01
• Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
• Personal property: All property that is not real property.
• Property: means real and personal property. See Ohio Code 1.59
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Rule: includes regulation. See Ohio Code 1.59
• state: means the state of Ohio. See Ohio Code 1.59
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Taxpayer: means either of the following:

  (1) An electric light company subject to taxation by a municipal corporation in this state for a taxable year, excluding an electric light company that is not an electric company or a combined company and for which an election made under section 5745. See Ohio Code 5745.01

• United States: includes all the states. See Ohio Code 1.59