As used in this chapter, the following words shall have the meaning ascribed to them in this section, except as and if the context clearly indicates or requires a different meaning:
(a) “Taxpayer” means a person, whether an individual, partnership, limited partnership, corporation, association or other entity, required hereunder to file a return or to pay a tax hereunder. “Taxpayer” does not include any person that is a disregarded entity or a qualifying subchapter S subsidiary for federal income tax purposes, but “taxpayer” includes any other person who owns the disregarded entity or qualifying subchapter S subsidiary. All residents of the Village of Byesville who receive taxable earnings or are employed outside of the Village, are required to file an annual Byesville Income Tax Return pursuant to Section 181.13 even if local taxes are withheld from the taxpayer’s earnings by another municipality.
(b) “Association” means a partnership, limited partnership, S corporation or any other form of unincorporated enterprise, owned by two or more persons.
(c) “Business” means an enterprise, activity, profession or undertaking of any nature conducted for profit or ordinarily conducted for profit, whether by an individual, partnership, limited partnership, corporation, association or any other entity, including but not limited to the renting or leasing of property, real, personal or mixed.
(d) “Corporation” means a corporation or joint stock association organized under the laws of the United States, the State of Ohio, or any other state, territory, foreign country or dependency.
(e) “Employee” means one who works for wages, salary, commission or other types of compensation in the service of an employer.
(f) “Employer” means an individual, partnership, limited partnership, association, corporation, governmental body, unit or agency, or any other entity, whether or not organized for profit, who or that employs one or more persons on a qualified wage, salary, commission or other compensation basis.
(g) “Net profit” for a taxpayer other than an individual means adjusted federal taxable income and “net profit” for a taxpayer who is an individual means the individual’s profit required to be reported on schedule C, schedule E, or schedule F.
(h) “Nonresident” means an individual, partnership, limited partnership, corporation, association or other entity domiciled outside the Village.
(i) “Person” means every natural person, partnership, limited partnership, corporation, fiduciary or association. Whenever used in any clause prescribing and imposing a penalty, the term “person” as applied to any association, shall mean the partners or members thereof, and as applied to corporation, officers thereof.
(j) “Resident” means an individual, partnership, limited partnership, corporation, association or other entity domiciled in the Village.
(k) “Other entity” means any person or unincorporated body not previously named or defined and includes, among other things, fiduciaries located within the Village.
(l) “Domicile” means a principal residence that the taxpayer intends to use for an indefinite time and to which whenever he is absent intends to return. A taxpayer has only one domicile even though he may have more than one residence.
(m) “Intangible Income” means income of any of the following types: income but not limited to, investments, deposits, money, or credits as those terms are defined in Chapter 5701 of the Ohio Revised Code, and patents, copyrights, trademarks, trade names, investments in real estate investment trusts, investments in investment companies, and appreciation on deferred compensation. “Intangible Income” does not include prizes, awards, or other income associated with any lottery winnings or other similar games of chance.
(n) “Qualifying wages’ means wages, as defined in Section 3121(a) of the Internal Revenue Code, without regard to any wage limitations, adjusted in accordance with Section 718.03(A) of the Ohio Revised Code.
(o) “Adjusted federal taxable income” means a C corporation’s federal taxable income before net operating losses and special deductions as determined under the Internal Revenue Code, adjusted as follows:
(1) Deduct intangible income to the extent included in federal taxable income. The deduction shall be allowed regardless of whether the intangible income relates to assets used in a trade of business or assets held for the production of income;
(2) Add an amount equal to five percent (5%) of intangible income deducted under division (o)(1) of this section, but excluding that portion of intangible income directly related to the sale, exchange, or other disposition of property described in Section 1221 of the Internal Revenue Code;
(3) Add any losses allowed as a deduction in the computation of Federal taxable income if the losses directly relate to the sale, exchange, or other disposition of an asset described in Section 1221 or 1231 of the Internal Revenue Code;
(4) A. Except as provided in this division (o)(4)B. of this section, deduct income and included federal taxable income to the extent the income and gain directly relate to the sale, exchange, of other disposition of an asset described in Section 1221 or 1231 of the Internal Revenue Code;
B. Division (o)(4)A. of this section does not apply to the extent the income or gain is income or gain described in Section 1245 or 1250 of the Internal Revenue Code;
(5) In the case of real estate investment trust and regulated investment company, and all amounts with respect to dividends to, distributions to, or amounts set aside for or credited to the benefit of investors and allowed as a deduction in the computation of federal taxable income;
(6) If the taxpayer is not a C corporation and is not an individual, the taxpayer shall compute adjusted federal taxable income as if the taxpayer were a C corporation, except;
A. Guaranteed payments and other similar amounts paid of accrued to a partner, member, or former member shall not be allowed as a deductible expense; and
B. Amounts paid or accrued to a qualified self-employed retirement plan with respect to an owner of owner-employee of the taxpayer, amounts paid or accrued to or for health insurance for an owner or owner-employee, and amounts paid or accrued to or nothing in division (o)(1) of this section shall be construed as allowing the taxpayer to add or deduct any amount more than once or shall be construed as allowing any taxpayer to deduct any amount to or accrued for purposes of federal self-employment tax.
Nothing in this chapter shall be construed as limiting or removing the ability of any municipal corporation to administer, audit, and enforce the provisions of its municipal tax.
(p) “Municipality” means the Village of Byesville.
(q) “Nonqualified deferred compensation plan” means a compensation plan described in Section 3121(v)(2)(C) of the Internal Revenue Code.
(r) “Resident” means an individual domiciled in the Municipality.
(s) “Joint Economic Development District” means districts created under the Ohio Revised Code Sections 715.70 through 715.83, as amended from time to time.
The singular shall include the plural and the masculine shall include the feminine and the neuter, and all periods set forth shall be inclusive of the first and last mentioned dates.
(Ord. 2004-07. Passed 9-29-04; Ord. 2008-16. Passed 6-25-08.)