Ohio § 5733.054
Full text of Ohio Ohio Revised Code § 5733.054, with citation guidance and answers to common questions.
§ 5733.054.
(A) If any gain that is added to net income pursuant to divisions (I)(12)(a) and (b)
of section 5733.04 of the Revised Code is allocated or apportioned to this state in
accordance with divisions (B)(1) and (2) of section 5733.05 of the Revised Code, a
deduction from the corporation's net income allocated and apportioned to this state
shall be allowed to the extent that the sum of such gain allocated and apportioned
to this state, when added to the amount of such gain actually allocated and apportioned
to other states imposing a tax on or measured by net income, in accordance with the
other states' allocation and apportionment rules, exceeds the amount of such gain
added to net income pursuant to divisions (I)(12)(a) and (b) of section 5733.04 of
the Revised Code. However, in no event shall the deduction provided by this division exceed the amount
of such gain allocated or apportioned to this state. (B) If any loss which is deducted from net income pursuant to divisions (I)(12)(a) and
(b) of section 5733.04 of the Revised Code is allocated or apportioned to this state
in accordance with divisions (B)(1) and (2) of section 5733.05 of the Revised Code,
an addition to the corporation's net income allocated and apportioned to this state
shall be made to the extent that the sum of such loss allocated and apportioned to
this state, when added to the amount of such loss actually allocated and apportioned
to other states imposing a tax on or measured by net income, in accordance with the
other states' allocation and apportionment rules, exceeds the amount of such loss
deducted from net income pursuant to divisions (I)(12)(a) and (b) of section 5733.04
of the Revised Code. However, in no event shall the addition provided by this division exceed the amount
of such loss allocated or apportioned to this state.
Frequently Asked Questions About Ohio § 5733.054
What does Ohio Revised Code § 5733.054 cover?
Section 5733.054 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 § 5733.054?
A common citation format is "Ohio Revised Code § 5733.054" (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 § 5733.054 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.