Ohio § 5725.221

§ 5725.221.

For the purposes of this section, interest shall be computed at a rate per calendar

month, rounded to the nearest one-hundredth of one per cent, equal to one-twelfth

of the rate per annum prescribed by section 5703.47 of the Revised Code for the calendar year that includes the month for which the interest accrues. (A) When taxes levied by section 3737.71 , 5707.03 , or 5725.18 of the Revised Code are assessed as the result of a tax return being filed late, the treasurer of state

or tax commissioner, as appropriate, shall add interest to the taxes due.  The interest shall accrue from the first day of the month following the last day

on which such taxes were required to be paid, had the assessment been certified by

the date prescribed, to the last day of the month preceding the date on which the

assessment was certified, and shall be computed on the taxes due. (B) If an assessment has been certified pursuant to section 5711.13 , 5725.08 , 5725.16 , 5725.20 , or 5725.222 of the Revised Code and an amended or final assessment is certified for the same taxpayer and the same

tax year, the treasurer of state or tax commissioner, as appropriate, shall add interest

to the deficiency or excess.  The interest shall be computed on the excess or deficiency, and shall be accrued

in the following manner: (1) On a deficiency, interest shall accrue from the first day of the month following

the last day on which the previous assessment was required to be paid, to the last

day of the month preceding the date on which the amended or final assessment is certified; (2) On an excess, interest shall be allowed from the first day of the month following

the date of payment of the previous assessment, to the last day of the month preceding

the date on which the amended or final assessment is certified.