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) "Association" means a partnership, limited partnership, limited liability company, S corporation, or any other form of unincorporated enterprise, owned by two or more persons.
(b) "Business" means an enterprise, activity, profession or undertaking of any nature conducted for profit or ordinarily conducted for profit, whether by an individual, partnership, association, corporation or any other entity.
(c) "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.
(d) “Domicile" means the principal place of residence that a taxpayer intends to use for an indefinite period of time and to which the taxpayer intends to return whenever he or she is absent. A taxpayer has only one domicile even though he or she may have more than one residence.
(e) "Employee" means one who works for wages, salary, commission or other type of compensation in the service of an employer.
(f) "Employer" means an individual, 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 salary, wage, commission or other compensation basis.
(g) "Estimated tax liability" means the amount that a taxpayer estimates to be the taxpayer's liability for the income taxes levied in this chapter for a year prior to applying any credits, estimated tax payments, or withheld taxes for the year.
(h) "Fiscal Year" means an accounting period of twelve months or less ending on any day other than December 31.
(i) “Fiscal Year taxpayer" means a taxpayer that reports the Municipal income taxes levied under this chapter on the basis of a twelve-month period that does not coincide with the calendar year.
(j) "Generic form" means an electronic or paper form designated for reporting estimated Municipal income tax and annual Municipal income tax liability under this chapter that is not prescribed by the Municipality for reporting the income tax levied in this chapter, provided that the generic form, once completed and filed, contains all of the information required to be submitted with the Municipality's prescribed returns, reports, or documents.
(k) “Gross receipts" means the total income from any source whatsoever.
(l) “Income from a Pass-Through Entity" means partnership income of partnership, distributive shares or shareholders of an S corporation, membership interests of members of a limited liability company, or other distributive or other proportionate ownership shares of other pass-through entities.
(m) "In the Municipality" includes all Municipally owned lands not situated within the boundaries of another municipality.
(n) "Limited Liability Company" means a limited liability company formed under Chapter 1705 of the Ohio Revised Code or under similar laws of another state.
(o) "Net Profits" means the Federal Taxable Income (FTI), before net operating losses and special deductions, (currently line 28 of the federal 1120) and then making the following adjustments:
(1) Deduct intangible income to the extent it is included in FTI;
(2) Add 5% of the amount deducted as intangible income but not the portion of the intangible income related to the sale, exchange or disposition of property described in section 1221 of the Internal Revenue Code (IRC);
(3) Add any losses allowed in the computation of FTI if the losses relate to the sale, exchange, or disposition of property described in Section 1221 or 1231 of IRC;
(4) Except for depreciation recapture described in section 12454 or 1220 of IRC, deduct income and gain included in FTI to the extent the income and gain relate to the sale, exchange or disposition of any asset described in section 1221 or 1231 of IRC;
(5) Add taxes on or measured by net income allowed as a deduction in the computation of FTI;
(6) In the case of a real estate investment trust or regulated investment company, add all dividends, distributions, or amounts set aside for the benefit of investors and allowed as a deduction in the computation of FTI;
(7) ln the case of a taxpayer that is not a C corporation and is not an individual, the taxpayer shall compute FTI as if the taxpayer were a C corporation and, in addition to the above adjustments, shall not be allowed a deduction for guaranteed payments, payments to a qualified self-employed retirement plan, payments for health or life insurance for an owner or owner-employee, or federal self-employment tax.
(8) Uses apportionment formula to apportion profit to each municipality using an equally weighed formula of property, payroll, and sales (the property factor uses original cost instead of net book value). If the apportionment formula does not produce an equitable result another basis may be substituted under uniform regulations.
(p) “Nonresident" means an individual domiciled outside of the Municipality of an unincorporated business entity not having an office or place of business within the Municipality.
(q) "Other compensation" includes tips, gratuities, all types of income upon which federal or state income taxes are deferred, sick pay, supplemental unemployment payments, non transferrable employee stock options intended as wages, executor's, administrator's and guardian's fees, lottery winnings, gambling winnings and similar winnings, and/or other prizes in excess of $5,000.00.
(r) “Other Equity" means any person or unincorporated body not previously named or defined and includes, inter alia, fiduciaries located within the Municipality.
(s) "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.
(t) "Pass-Through Entity" means a partnership, S corporation, Limited liability company, or any other class of entity, the income or profits from which are given pass-through treatment under the Internal Revenue Code.
(u) “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 unincorporated entity, shall mean the partners or members thereof and as applied to corporations, the officers thereof.
(v) “Place of business" means any bona fide office, other than a mere statutory office, any factory, warehouse or other space which is occupied and used by the taxpayer in carrying on any business activity individually or through one or more of his or her regular employees regularly in attendance.
(w) "Resident" means an individual domiciled in the Municipality or an unincorporated business entity having an office or place of business within the Municipality.
(x) “S Corporation" means a corporation that has made an election under Sub-chapter S or Chapter 1 of Sub Title A of the Internal Revenue Code for its taxable year.
(y) "Tax Administrator'' means the individual designated by this chapter (Auditor of the Municipality), whether appointed or elected, and who is charged with direct responsibility for the administration and enforcement of the provisions of this chapter.
(z) "Taxable Income" means wages, salaries and other compensation paid by an employer or employers before any deductions and/or the net profits from the operation of a business, profession or other enterprise or activity adjusted in accordance with the provisions of this chapter.
(aa) "Taxable year" means the calendar year, or the fiscal year ending during such calendar year, upon the basis of which the net profits are to be computed under this chapter and in the case of a return for a fractional part of a year, the period for which such return is required to be made. Unless approved by the Tax Administrator, the taxable year of an individual shall be a calendar year.
(bb) "Taxpayer" means a person, whether an individual, fiduciary, partnership, limited partnership, association, corporation, or any other entity, required hereunder to file a return or pay a tax.
(cc) The singular shall include the plural, and the masculine shall include the feminine and the neuter.
(Ord. 877. Passed 11-22-04.)
(Ord. 877. Passed 11-22-04.)