All taxes imposed by this chapter shall be collectible, together with any interest and penalties thereon, by suit, as other debts of like amount are recoverable. No additional assessment of taxes shall be made after the period described in Ohio R.C. 718.06, except in the case of fraud, omission of twenty-five percent (25%) or more of the income subject to this tax, or failure to file a return; unless that taxpayer has waived his rights under such Ohio Revised Code Section; provided, however, in those cases in which the Commissioner of Internal Revenue and the taxpayer have executed a waiver of the federal statute of limitation, the period within which an additional assessment may be made by the Commissioner of Taxation shall be three years from the time of the final determination of the Federal tax liability.
(Ord. 86-459. Passed 7-22-86.)