Ohio Miscellaneous Regulatory Material DEPARTMENT OF INSURANCE BULLETINS Bulletin 98-2 Small business tax credit	Effective Date December 15, 1998

The purpose of this bulletin is to provide authorized insurers with a definition which will assist them in determining entitlement to the tax credit described in Section 5729.031 of the Ohio Revised Code.

R.C. 5729.031 grants a tax credit in certain circumstances to insurance companies and insurance company groups. R.C. 5729.031 defines an insurance company group as ". . . two or more insurance companies that are owned by a common owner or two or more insurance companies among which one company owns the other company or companies . . ."

For purposes of completing the Department's Tax Credit Form INS7140, one corporation owns another if it owns more than fifty per cent of the other corporation's common stock with voting rights.

Harold T. Duryee
Superintendent of Insurance

CROSS REFERENCE 5729.031

DATE NEW 1998

SUBJECT CATEGORY 520 - Acquisition of control
580 - Fees and taxes

DEFINITIONS Insurance company group

INDEX
Insurers and Small businesses and Tax credits
Controlling interests and Small businesses and Tax credits
Forms (documents) and Insurers and Tax credits