Lakengren, Inc. v. Kosydar

The only question presented in this ease is whether the amendment to R. C. 5733.05, adopted December 20, 1971, whereby the income of a corporation was made an alternative basis for computing the corporate franchise tax, is a retroactive law as to accounting years already closed prior to the enactment of the statute. The amendment applies the tax rate to the net income of the corporation earned during the accounting year “preceding the date of commencement of its annual accounting period which includes the first day of January of the tax year” (R. C. 5733.05[B]), so that this taxpayer’s…