us-oh/stat
Ohio Rev. Code § 5733.054
Deduction or addition where portion of certain gains or losses is allocated or apportioned to Ohio
# (A)
If any gain that is added to net income pursuant to divisions (I)(12)(a) and (b) of section 5733.04 of the Revised Code is allocated or apportioned to this state in accordance with divisions (B)(1) and (2) of section 5733.05 of the Revised Code, a deduction from the corporation's net income allocated and apportioned to this state shall be allowed to the extent that the sum of such gain allocated and apportioned to this state, when added to the amount of such gain actually allocated and apportioned to other states imposing a tax on or measured by net income, in accordance with the other states' allocation and apportionment rules, exceeds the amount of such gain added to net income pursuant to divisions (I)(12)(a) and (b) of section 5733.04 of the Revised Code. However, in no event shall the deduction provided by this division exceed the amount of such gain allocated or apportioned to this state.
# (B)
If any loss which is deducted from net income pursuant to divisions (I)(12)(a) and (b) of section 5733.04 of the Revised Code is allocated or apportioned to this state in accordance with divisions (B)(1) and (2) of section 5733.05 of the Revised Code, an addition to the corporation's net income allocated and apportioned to this state shall be made to the extent that the sum of such loss allocated and apportioned to this state, when added to the amount of such loss actually allocated and apportioned to other states imposing a tax on or measured by net income, in accordance with the other states' allocation and apportionment rules, exceeds the amount of such loss deducted from net income pursuant to divisions (I)(12)(a) and (b) of section 5733.04 of the Revised Code. However, in no event shall the addition provided by this division exceed the amount of such loss allocated or apportioned to this state.
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In this chapter (25 sections)
- 5733.01 · Tax charged against corporations
- 5733.02 · Annual taxpayer report and remittance - report on dissolution…
- 5733.03 · Annual report
- 5733.04 · Corporation franchise tax definitions
- 5733.05 · Determination of value of issued and outstanding stock and…
- 5733.06 · Computing tax
- 5733.021 · Declaration of estimated tax report
- 5733.022 · Tax payment by electronic funds transfer
- 5733.031 · Taxable year; method of accounting; amended report;…
- 5733.041 · Net income defined for tax years 1984 to 1993
- 5733.042 · Computing net income of member of affiliated group
- 5733.051 · Allocating and apportioning of net income of corporation
- 5733.052 · Combining net incomes of corporations
- 5733.053 · Transferee corporation subject to transferor's tax liability
- 5733.054 · Deduction or addition where portion of certain gains or…
- 5733.055 · Deducting expenses and costs paid to related member
- 5733.056 · Determining value of issued and outstanding shares of stock
- 5733.057 · Ownership interest in pass-through entity
- 5733.058 · Adjusting for equity investment in an exempted investment
- 5733.059 · Allocating sales of electric transmission and distribution…
- 5733.061 · Credit allowed for investment in property used in refining…
- 5733.064 · Credit for recycling and litter prevention program donations
- 5733.065 · Additional tax on corporations for privilege of…
- 5733.0510 · Reducing net income for qualifying assets
- 5733.0511 · Net income for qualifying telephone company taxpayer