§ 5725.25 — Tax on real estate of domestic insurance company

Ohio § 5725.25

• Jurisdiction: Ohio
• Title 57: Taxation
• Ch. 5725: Financial Institutions; Dealers In Intangibles; Insurance Companies

Text

(A) The real estate of a domestic insurance company shall be taxed in the place where it is located, the same as the real estate of other persons is taxed, but the tax provided for by sections5725.01to5725.26of the Revised Code, shall be in lieu of all other taxes on the other property and assets of such domestic insurance company, except as provided in division (B) of this section, and of all other taxes, charges, and excises on such domestic insurance companies, and all other taxes on the stockholders, members, or policyholders of such company by reason of their stock or other interest in such insurance company, except as to annuities or the right to receive the proceeds of a policy payable after its maturity in installments, or left with the company at interest. Sections5725.01to5725.26of the Revised Code do not assess any tax on any foreign insurance company or affect any tax on a foreign insurance company under any laws of this state.

(B) Tangible personal property taxable under Chapter 5711. of the Revised Code shall be subject to taxation if it is owned by a domestic insurance company and leased or held for the purpose of leasing to a person other than an insurance company for use in business.

(C) For reports required to be filed under section5725.14of the Revised Code in 2003 and thereafter, nothing in this section shall be construed to exempt the property of any dealer in intangibles under section5725.13of the Revised Code from the tax imposed under section5707.03of the Revised Code.

Legislative History

Effective: December 13, 2001 | Latest Legislation: House Bill 405 - 124th General Assembly