Treasurer of state to maintain intangible property tax lists - collection of taxes - refunds - penalties

# (A)

The treasurer of state shall maintain a list of taxes levied by section 5725.18 of the Revised Code and certified for assessment by the superintendent of insurance pursuant to section 5725.20 of the Revised Code.

# (B)

The treasurer of state shall collect, and the taxpayer shall pay, all taxes levied under section 5725.18 of the Revised Code and any interest applicable thereto. Payments may be made electronically or by any other means authorized by the treasurer of state. Whenever the superintendent of insurance submits an electronic call for data, the treasurer of state shall electronically submit to the superintendent the data requested, including the amount of taxes collected and the name of the domestic insurance company from whom collected. The treasurer of state may adopt rules concerning the methods and timeliness of payments under this division.

# (C)

Each tax bill issued pursuant to this section shall separately reflect the taxes due, interest, if any, due date, and any other information considered necessary. The last day on which payment may be made without penalty shall be the fifteenth day of June, unless that day is not a business day as defined in section 5709.40 of the Revised Code, in which case the payment may be made on the next business day. The treasurer of state shall issue the tax bill to the taxpayer electronically through the department of insurance's web site.

The treasurer of state shall refund taxes as provided in this section, but no refund shall be made to a taxpayer having a delinquent claim certified pursuant to this section that remains unpaid. The treasurer of state may consult the attorney general regarding such claims. Refunds shall be paid from the tax refund fund created by section 5703.052 of the Revised Code.

# (D)

# (1)

Unless an exigency exists, the treasurer of state shall issue a tax bill within twenty days after receipt of an assessment certified by the superintendent of insurance under section 5725.20 of the Revised Code, but if such assessment reflects a late filed tax return, the treasurer of state shall add interest as provided in division (A) of section 5725.221 of the Revised Code and issue a tax bill. In the case of an exigency, the treasurer of state shall issue the tax bill as soon as possible and may extend the due date for payment of the tax prescribed by division (C) of this section.

# (2)

After receipt of any amended or final assessment of taxes received from the superintendent of insurance pursuant to section 5725.20 of the Revised Code, the treasurer of state shall ascertain the difference between the total taxes computed on such assessment and the total taxes computed on the most recent assessment certified for the same tax year. If the difference is a deficiency, the treasurer of state shall add interest as provided in division (B)(1) of section 5725.221 of the Revised Code and issue a tax bill, with payment due thirty days after the date of the bill is issued. If the difference is an excess, the treasurer of state shall add interest as provided in division (B)(2) of section 5725.221 of the Revised Code and certify the name of the taxpayer and the amount to be refunded to the director of budget and management for payment to the taxpayer. If the taxpayer has a deficiency for one tax year and an excess for another tax year, or any combination thereof for more than two tax years, the treasurer of state may determine the net result after adding interest, if applicable, and, depending on such result, proceed to issue a tax bill or certify a refund.

# (E)

If a taxpayer fails to pay all taxes and interest, if any, on or before the due date shown on the tax bill issued by the treasurer of state, the treasurer of state shall add a penalty equal to five hundred dollars for each month the taxpayer fails to pay all taxes and interest due. The treasurer of state may add an additional penalty, not to exceed ten per cent of the taxes and interest due, if the taxpayer fails to demonstrate that the taxpayer made a good faith effort to pay all taxes and interest on or before the due date shown on the tax bill. The treasurer of state shall prepare a delinquent claim for each tax bill on which penalties were added and certify such claims to the attorney general for collection. The attorney general shall transmit a copy of each claim certified by the treasurer of state to the superintendent of insurance. For each claim certified by the treasurer of state, the attorney general shall proceed to collect the delinquent taxes, penalties, and interest thereon in the manner prescribed by law.

Last updated September 6, 2023 at 3:07 PM