Ohio § 5745.09 Underpayments

Ohio Statutes

§ 5745.09 — Underpayments

Ohio § 5745.09

Title 57Taxation

Ch. 5745Municipal Taxation Of Electric Light Company Income

This text of Ohio § 5745.09 (Underpayments) 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. § 5745.09 (2026).

Text

(A)In case of any underpayment of the estimated tax under section5745.04of the Revised Code, the tax commissioner may add to the tax an amount determined at the rate per annum prescribed by section5703.47of the Revised Code upon the amount of underpayment for the period of underpayment.

(B)The amount of the underpayment shall be the excess of division (B)(1) over division (B)(2) of this section:

(1)The amount of the estimated tax payment that would be required to be paid for the taxable year if the total estimated tax were equal to the total tax shown to be due on the annual report, or if no report was filed, the tax for such year;

(2)The amount, if any, of the estimated tax paid on or before the last day prescribed for such payment.

(C)The period of the underpayment shall run fro

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(A) In case of any underpayment of the estimated tax under section5745.04of the Revised Code, the tax commissioner may add to the tax an amount determined at the rate per annum prescribed by section5703.47of the Revised Code upon the amount of underpayment for the period of underpayment.

(B) The amount of the underpayment shall be the excess of division (B)(1) over division (B)(2) of this section:

(1) The amount of the estimated tax payment that would be required to be paid for the taxable year if the total estimated tax were equal to the total tax shown to be due on the annual report, or if no report was filed, the tax for such year;

(2) The amount, if any, of the estimated tax paid on or before the last day prescribed for such payment.

(C) The period of the underpayment shall run from the date the estimated tax payment was required to be made to the date on which such payment is made. For purposes of this section, a payment of estimated tax on any payment date shall be considered a payment of any previous underpayment only to the extent such payment exceeds the amount of the payment presently due.

(D) All amounts collected under this section shall be considered as taxes collected under this chapter and shall be credited and distributed to municipal corporations in the same proportions as the taxpayer's taxes are distributed for the reporting period under section5745.05of the Revised Code or, if the taxpayer has filed the annual report for the year under section5745.03of the Revised Code, in the amounts found to be due to such municipal corporations on the basis of the annual report.

Last updated July 17, 2025 at 1:09 PM