142.80 FILING NET PROFIT TAXES; ELECTION TO BE SUBJECT TO PROVISIONS OF CHAPTER.

   (a)   A taxpayer may elect to be subject to Sections 142.80 to 142.95 of the Codified Ordinances in lieu of the provisions set forth in the remainder of this chapter. Notwithstanding any other provision of this chapter, upon the taxpayer's election, both of the following shall apply:

      (1)   The state tax commissioner shall serve as the sole administrator of the municipal net profit tax for which the taxpayer as defined in Section 142.81(c) of the Codified Ordinances is liable for the term of the election;

      (2)   The state tax commissioner shall administer the tax pursuant to Ohio R.C. 718.80 to 718.95, Sections 142.80 to 142.95 of the Codified Ordinances, and any applicable provision of Chapter 5703 of the Revised Code.

   (b)   (1)   A taxpayer shall make the initial election on or before the first day of the third month after the beginning of the taxpayer’s taxable year by notifying the state tax commissioner and the Municipality, on a form prescribed by the state tax commissioner.

      (2)   A.   The election, once made by the taxpayer, applies to the taxable year in which the election is made and to each subsequent taxable year until the taxpayer notifies the state tax commissioner and the Municipality of its termination of the election.

         B.   A notification of termination shall be made, on a form prescribed by the state tax commissioner, on or before the first day of the third month of any taxable year.

         C.   Upon a timely and valid termination of the election, the taxpayer is no longer subject to Sections 142.80 to 142.95, and is instead subject to the provisions set forth in the remainder of this chapter.

   (c)   The state tax commissioner shall enforce and administer Sections 142.80 to 142.95. In addition to any other powers conferred upon the state tax commissioner by law, the state tax commissioner may:

      (1)   Prescribe all forms necessary to administer those sections;

      (2)   Adopt such rules as the state tax commissioner finds necessary to carry out those sections;

      (3)   Appoint and employ such personnel as are necessary to carry out the duties imposed upon the state tax commissioner by those sections.

   (d)   The state tax commissioner shall not be considered a tax administrator, as that term is defined in Ohio R.C. 718.01 and Section 142.03(44) of the Codified Ordinances.

(Ord. A-2921. Passed 2-12-18.)