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175.03011 ADJUSTED FEDERAL TAXABLE INCOME. <br />"Adjusted federal taxable income" means a"C" corporation's federal <br />taxable income before net operatina losses and special deductions as <br />determined under the Internal Revenue Code, but includinq subsequent <br />adjustments from required additions and deductions. Pass-throuqh entities must <br />compute "Adjusted Federal Taxable Income" as if the pass-through entity was a <br />"C" corporation. This definition does not apply to any taxpayer required to file a <br />return under Ohio Revised Code (ORC) section 5745.03 or to the net profit from <br />a sole proprietorship. This definition is effective for tax vears beqinninq on or <br />after January 1, 2004. <br />X:\Mayfield\MFV Legis\2005 Legis1175.03011.doc