(A) A taxpayer may elect to be subject to this Chapter 1727 in lieu of the provisions set forth in the remainder of Part Seventeen - Title Two. Notwithstanding any other provision of Part Seventeen - Title Two, 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 1727.02(C) of the Codified Ordinances is liable for the term of the election;
(2) The commissioner shall administer the tax pursuant to Part Seventeen - Title Two, Sections 718.80 to 718.95 of the Ohio Revised Code, and any applicable provision of Chapter 5703 of the Ohio 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 tax commissioner and the City on a form prescribed by the 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 tax commissioner and the City of its termination of the election.
(b) A notification of termination shall be made, on a form prescribed by the 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 Chapter 1727, and is instead subject to the provisions set forth in the remainder of Title Two of Part Seventeen of the Codified Ordinances.
(C) The tax commissioner shall enforce and administer Chapter 1727. In addition to any other powers conferred upon the tax commissioner by law, the tax commissioner may:
(1) Prescribe all forms necessary to administer those sections;
(2) Adopt such rules as the 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 tax commissioner by those sections.
(D) The tax commissioner shall not be considered a tax administrator, as that term is defined in Section 718.01 of the Ohio Revised Code and Section 1715.01(C)(45)(a) of the Codified Ordinances. (Ord. 06-2018. Passed 2-20-18.)