(a) “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 or foreign country or dependency.
(b) “S Corporation” means a corporation that has made an election under subchapter S of Chapter 1 of subtitle A of the Internal Revenue Code for its taxable year.
(c) “Limited liability company” means a limited liability company formed under Ohio R.C. Chapter 1705 or under the laws of another state.
(d) “Income from a pass-through entity” means partnership income or partners, distributive shares of an S corporation, membership interests of members of a limited liability company.
(e) “Owner” means a partner of a partnership, a shareholder of an “S” corporation, a member of a limited liability company, or other person with an ownership interest in a pass- through entity. (Ord. 2000-111. Passed 10-24-00.)