MICHAEL v. BOWERS

No. 37460.

174 Ohio St. 169 (1963)

MICHAEL, APPELLANT, v. BOWERS, TAX COMMR., APPELLEE.

Supreme Court of Ohio.

Decided January 30, 1963.


Attorney(s) appearing for the Case

Messrs. Shumaker, Loop & Kendrick, Mr. G. C. Scharfy and Mr. John W. Hackett, Jr., for appellant.

Mr. Mark McElroy, attorney general, and Mr. Robert J. Kosydar, for appellee.


MATTHIAS, J.

The first question raised in this case is whether a taxpayer who elects to file his Ohio personal property tax return under the federal-election method may exclude from such return payments of amounts arising as capital gains earned by a corporation whose shareholders have elected under the federal income tax law to comply with the provisions of Subchapter S of the Internal Revenue Code.

A corporation known as a Subchapter S corporation is a corporation...

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