04-18 Amend Municipal Net Profit Taxes 128.22 - 128.2215

Home Browse Search

for the immediate preservation of the public property, health, and safety and to provide for the usual daily operation of municipal departments, in that these new code sections must be in effect no later than the date the municipal income tax provisions of H.B. 49 become effective by operation of law; now, therefore BE IT ORDAINED BY THE CITY OF LAKEWOOD, OHIO: Section 1. New sections 128.22 through 128.2215 of the Codified Ordinances, authorizing state officials to collect and administer municipal net profit taxes, are hereby enacted to read as follows: 128.22 FILING NET PROFIT TAXES; ELECTION TO BE SUBJECT TO PROVISIONS OF CHAPTER. (a) A taxpayer may elect to be subject to sections 128.22 to 128.2215 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 128.2201(c) of the Codified- Ordinances is liable for the tern of the election; (2) The commissioner shall administer the tax pursuant to sections 718.80 to 718.95 of the Revised Code, sections 128.22 to 128.2215 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 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 sections 128.22 to 128.2215 of the Codified Ordinances, and is instead subject to the provisions set forth in the remainder of this chapter. (c) The tax commissioner shall enforce and administer sections 128.22 to 128.2215 of the Codified Ordinances. 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;