Ohio § 5701.14
Full text of Ohio Ohio Revised Code § 5701.14, with citation guidance and answers to common questions.
§ 5701.14.
For purposes of Title LVII of the Revised Code: (A) In order to determine a limited liability company's nonprofit status, an entity is
operating with a nonprofit purpose under section 1705.02 of the Revised Code or carrying on any nonprofit activity under section 1706.05 of the Revised Code if that entity is organized other than for the pecuniary gain or profit of, and its
net earnings or any part of its net earnings are not distributable to, its members,
its directors, its officers, or other private persons, except that the payment of
reasonable compensation for services rendered, payments and distributions in furtherance
of its nonprofit purpose, and the distribution of assets on dissolution permitted
by section 1702.49 of the Revised Code are not pecuniary gain or profit or distribution of net earnings. In no event shall payments and distributions in furtherance of an entity's nonprofit
purpose deprive the entity of its nonprofit status as long as all of the members of
that entity are operating with a nonprofit purpose. (B) A single member limited liability company that operates with a nonprofit purpose,
as described in division (A) of this section, shall be treated as part of the same
legal entity as its nonprofit member, and all assets and liabilities of that single
member limited liability company shall be considered to be that of the nonprofit member. Filings or applications for exemptions or other tax purposes may be made either
by the single member limited liability company or its nonprofit member.
Frequently Asked Questions About Ohio § 5701.14
What does Ohio Revised Code § 5701.14 cover?
Section 5701.14 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 5701.14?
A common citation format is "Ohio Revised Code § 5701.14" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 5701.14 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.