(a) The portion of the net profits attributable to the City from a taxpayer conducting a business, profession or other activity both within and outside of the boundaries of the City shall be determined as provided in Ohio R.C. 718.02 and in accordance with the rules and regulations adopted by the Tax Commissioner pursuant to this chapter.
(b) Net profits from a business, profession or other activity conducted both within and outside of the boundaries of the City shall be considered as having a taxable situs in the City for the purposes of this chapter in the same proportion as the average ratio of:
(1) The average original cost of the real and tangible personal property owned or used by the taxpayer in the business, profession or other activity in the City during the taxable period to the average original cost of all real and tangible personal property owned or used by the taxpayer in the business, profession or other activity during the same period, wherever situated. As used in this section, "real property" includes property rented or leased by the taxpayer, the value of such property to be determined by multiplying the annual rental thereon by eight.
(2) Wages, salaries and other compensation paid during the taxable period to persons employed in the business, profession or other activity for services performed in the City to wage, salaries and other compensation paid during the same period to persons employed in the business, profession or other activity, wherever their services are performed. For tax year 2004 and subsequent tax years, wages, salaries, and other compensation shall be included to the extent that they represent qualifying wages.
(3) Gross receipts of the business profession or other activity from sales made and services performed during the taxable period in the City to gross receipts of the business, profession or other activity during the same period from sales and services, wherever made or performed.
If the formula in Section 181.05(b) does not produce an equitable result, another basis (including the books and records method) may, under uniform regulations, be substituted so as to produce such result. (Ord. 7087. Passed 11-10-09.)