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Legal Opinion

Armour & Co. v. Kosydar

Ohio Supreme Court

Decided June 23, 1976No. 75-601PublishedCited by 4 opinions

1Per curiam

The franchise tax provided by R. C. 5733.-01 through 5733.27 is computed by applying a “property” fraction to one-half of the share value of the company, and a “business done” fraction to the remaining one-half of the share value of the company. The share value of a company, under R. C. 5733.05, consists of the total book value of that company’s capital, surplus, undivided profits, and reserves, with certain specified exceptions.

The Tax Commissioner is directed by R. C. 5733.05 to compute the property factor, to be applied against one-half of this total share value, by fashioning a fraction…

2Cases cited3 opinions

  1. International Harvester Co. v. EvattSupreme Court of the United States · 1947
  2. New York v. LatrobeSupreme Court of the United States · 1929
  3. Petrocon, Inc. v. KosydarOhio Supreme Court · 1974

3Cited by4 opinions

  1. Bush & Cook Leasing, Inc. v. TracyOhio Supreme Court · 1997
  2. Burger Iron Co. v. TracyOhio Supreme Court · 1998
  3. Burger Iron Co. v. TracyOhio Supreme Court · 1998
  4. Bush & Cook Leasing, Inc. v. TracyOhio Supreme Court · 1997

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