Ohio § 5711.30 Penalty assessment for declaring a nominal dividend or to evade taxes

Ohio Statutes

§ 5711.30 — Penalty assessment for declaring a nominal dividend or to evade taxes

Ohio § 5711.30

Title 57Taxation

Ch. 5711Listing Personal Property

This text of Ohio § 5711.30 (Penalty assessment for declaring a nominal dividend or to evade taxes) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 5711.30 (2026).

Text

If any corporation, incorporated under the laws of this state or authorized to do business in this state, declares a nominal dividend or distribution for the purpose of enabling its shareholders residing in this state to return its shares as productive investments, the tax commissioner, upon finding such to be the fact, shall assess against such corporation a penalty equal to a tax of two mills on the dollar of the true value in money of its share of stock owned by shareholders residing in this state. Such penalty shall be collected and distributed in the same manner as taxes levied by section5707.03of the Revised Code.

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If any corporation, incorporated under the laws of this state or authorized to do business in this state, declares a nominal dividend or distribution for the purpose of enabling its shareholders residing in this state to return its shares as productive investments, the tax commissioner, upon finding such to be the fact, shall assess against such corporation a penalty equal to a tax of two mills on the dollar of the true value in money of its share of stock owned by shareholders residing in this state. Such penalty shall be collected and distributed in the same manner as taxes levied by section5707.03of the Revised Code.