Ohio Code § 5733.054
Ohio Code § 5733.054. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 5733.054.
(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.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 5733.054
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
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Common questions
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