Ohio Code § 5711.14

§ 5711.14.

A corporation which owns or controls at least fifty-one percent of the common stock

of another corporation may, under uniform regulations prescribed by the tax commissioner,

make a consolidated return for the purpose of sections 5711.01 to 5711.36, inclusive, of the Revised Code .  In such case all the taxable property mentioned in section 5709.01 of the Revised Code , belonging to the corporation making the return and to each of its subsidiaries shall

be listed and assessed in the name of the separate owners thereof;  but the parent

corporation making such return shall not be required to list any of its investments

in the stocks, securities, and other obligations of its subsidiaries, and in computing

the amount of taxable credits inter-company accounts shall be eliminated.  The commissioner may adopt regulations to govern the use of consolidated returns

authorized by this section, but a corporation which avails itself of the option permitted

or authorized by this section shall thereafter continue to file consolidated returns

until the parent corporation notifies the commissioner in writing, on or before the

twentieth day of April of the year in which the return is due, that it does not intend

to file a consolidated return for such year. A husband and wife living together may, under uniform regulations prescribed by the

commissioner, make a joint return for the purpose of sections 5711.01 to 5711.36, inclusive, of the Revised Code .  In such case investments of either spouse in the obligations of the other shall

not be required to be listed therein, and in computing the amount of taxable credits

such obligations shall be eliminated.