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(iv) Any amount of a net operating loss used to reduce a taxpayer's net profit for a taxable year
<br />shall reduce the amount of net operating loss that may be carried forward to any subsequent year for use
<br />by that taxpayer. In no event shall the cumulative deductions for all taxable years with respect to a
<br />taxpayer's net operating loss exceed the original amount of that net operating loss available to that
<br />taxpayer.
<br />(b) In the case of nonresidents, all income, salaries, qualifying wages, commissions, and other
<br />compensation from whatever source earned or received by the nonresident for work done, services
<br />performed or rendered, or activities conducted in the municipal corporation, including any net profit of
<br />the nonresident, but excluding the nonresident's distributive share of the net profit or loss of only pass-
<br />through entities owned directly or indirectly by the nonresident.
<br />(c) For taxpayers that are not individuals, net profit of the taxpayer;
<br />(d) Lottery, sweepstakes, gambling and sports winnings, winnings from games of chance, and prizes
<br />and awards. If the taxpayer is a professional gambler for federal income tax purposes, the taxpayer may
<br />deduct related wagering losses and expenses to the extent authorized under the Internal Revenue Code
<br />and claimed against such winnings.
<br />(e) Intentionally left blank.
<br />(17) "Intangible income" means income of any of the following types: income yield, interest, capital
<br />gains, dividends, or other income arising from the ownership, sale, exchange, or other disposition of
<br />intangible property including, but not limited to, investments, deposits, money, or credits as those terms
<br />are defined in Chapter 5701. of the ORC, and patents, copyrights, trademarks, tradenames, investments in
<br />real estate investment trusts, investments in regulated investment companies, and appreciation on deferred
<br />compensation. "Intangible income" does not include prizes, awards, or other income associated with any
<br />lottery winnings, gambling winnings, or other similar games of chance.
<br />(18) "Internal Revenue Code" has the same meaning as in Section 5747.01 of the ORC.
<br />(19) "Limited liability company" means a limited liability company formed under Chapter 1705. of
<br />the ORC or under the laws of another state.
<br />(20) "Municipal corporation" includes a joint economic development district or joint economic
<br />development zone that levies an income tax under Section 715.691 , 715.70 , 715.71 , or 715.74 of the
<br />ORC.
<br />(21)(a) "Municipal taxable income" means the following:
<br />(i) For a person other than an individual, income reduced by exempt income to the extent
<br />otherwise included in income and then, as applicable, apportioned or sitused to the Village under Section
<br />3, and further reduced by any pre-2017 net operating loss carryforward available to the person for the
<br />Village.
<br />(ii)(a) For an individual who is a resident of the Village, income reduced by exempt income to the
<br />extent otherwise included in income, then reduced as provided in division (C)(21)(b) of this section, and
<br />further reduced by any pre-2017 net operating loss carryforward available to the individual for the
<br />municipal corporation.
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