Ohio § 5739.025
Full text of Ohio Ohio Revised Code § 5739.025, with citation guidance and answers to common questions.
§ 5739.025.
(A) A vendor shall compute the tax on each sale by multiplying the price by the aggregate
rate of taxes in effect under sections 5739.02 and 5741.02 , and sections 5739.021 , 5739.023 , 5739.026 , 5741.021 , 5741.022 , and 5741.023 of the Revised Code . The computation shall be carried out to three decimal places. If the result is a fractional amount of a cent, the calculated tax shall be rounded
to a whole cent using a method that rounds up to the next cent whenever the third
decimal place is greater than four. A vendor may elect to compute the tax due on a transaction on an item or an invoice
basis. (B) In auditing a vendor, the tax commissioner shall consider the method prescribed by
this section that was used by the vendor in determining and collecting the tax due
under this chapter on taxable transactions. If the vendor correctly collects and remits the tax due under this chapter in accordance
with the computation prescribed in division (A) of this section, the commissioner
shall not assess any additional tax on those transactions. (C)(1) With respect to a sale of a fractional ownership program aircraft used primarily
in a fractional aircraft ownership program, including all accessories attached to
such aircraft, the tax shall be calculated pursuant to division (A) of this section,
provided that the tax commissioner shall modify those calculations so that the maximum
tax on each program aircraft is eight hundred dollars. In the case of a sale of a fractional interest that is less than one hundred per
cent of the program aircraft, the tax charged on the transaction shall be eight hundred
dollars multiplied by a fraction, the numerator of which is the percentage of ownership
or possession in the aircraft being purchased in the transaction, and the denominator
of which is one hundred per cent. (2) Notwithstanding any other provision of law to the contrary, the tax calculated under
division (C)(1) of this section and paid with respect to the sale of a fractional
ownership program aircraft used primarily in a fractional aircraft ownership program
shall be credited to the general revenue fund.
Frequently Asked Questions About Ohio § 5739.025
What does Ohio Revised Code § 5739.025 cover?
Section 5739.025 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 § 5739.025?
A common citation format is "Ohio Revised Code § 5739.025" (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 § 5739.025 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.