UBS Financial Services, Inc. v. Levin

{¶ 1} UBS Financial Services, Inc., formerly known as Paine Webber, Inc., appeals from a decision of the Board of Tax Appeals (“BTA”). The BTA ruled against UBS both as to jurisdiction and on the merits.

{¶ 2} As a securities broker/dealer, UBS is subject to the “dealers in intangibles” tax (“DIT”). R.C. 5725.13. UBS asserts that it overpaid DIT based on the returns it originally filed for tax years 1999, 2000, and 2001 because it had made a legal error when it computed the percentage of its business done in Ohio. The BTA ruled that it lacked jurisdiction to grant UBS relief on this claim.…