Hoover Universal, Inc. v. Limbach

We hold that Hoover may claim an investment tax credit for paying personal property tax on qualifying personal property purchased by Mansfield and Rogate, transferred to Hoover in the corporate merger, and first listed for personal property tax purposes by Hoover. We also hold that Hoover may claim an investment tax credit for paying personal property tax on qualifying personal property in a short-period taxable year.

I

Investment Tax Credits of Merged Subsidiaries

A

Facts

Between January 1, 1978, the earliest qualifying date for the investment tax credit provided in former R.C. 5733.061, and…