Ohio § 3956.20
Full text of Ohio Ohio Revised Code § 3956.20, with citation guidance and answers to common questions.
§ 3956.20.
(A)(1) A member insurer may offset against its premium or franchise tax liability twenty
per cent of the assessment described in division (H) of section 3956.09 of the Revised Code in each of the five calendar years following the fiscal biennium in which the assessment
was paid. The offsets shall be allowed on a year-per-year basis commencing with the first
tax payment due after the fiscal biennium in which the assessment was paid. (2) If the aggregate total of the assessments described in division (A)(1) of this section
and eligible for offset in a particular year exceeds a member insurer's tax liability
to this state for such year, the aggregate total of the remaining eligible assessments,
notwithstanding the five-year limitation set forth in division (A)(1) of this section,
may be offset against such tax liability in future years. (3) If a member insurer ceases doing business, all uncredited assessments may be credited
against its premium or franchise tax liability for the year it ceases doing business. (4) The Ohio life and health insurance guaranty association may require a member insurer
to report any offset to the association. (B) A member insurer that is exempt from taxes described in division (A) of this section
may recoup its assessments by a surcharge on its premiums in a sum reasonably calculated
to recoup the assessments over a reasonable period of time, as approved by the superintendent. Amounts recouped shall not be considered premiums for any other purpose, including
the computation of gross premium tax, the medical loss ratio, or agent commission. If a member insurer collects excess surcharges, the member insurer shall remit the
excess amount to the association, and the excess amount shall be applied to reduce
future assessments in the appropriate account. (C) Any sums that are acquired by member insurers by refund from the association pursuant
to division (F) of section 3956.09 of the Revised Code and that have been offset, prior to the refund, against premium or franchise tax
liability as provided in division (A) of this section shall be paid by such member
insurers to this state in the manner the superintendent of insurance requires. The association shall notify the superintendent that the refunds have been made.
Frequently Asked Questions About Ohio § 3956.20
What does Ohio Revised Code § 3956.20 cover?
Section 3956.20 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 § 3956.20?
A common citation format is "Ohio Revised Code § 3956.20" (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 § 3956.20 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.