Tax Form 310 - For Storage Only -- Non-Public Warehouse - 1998
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1
2Tax Form 310
1998
M
A
P
.
ERCHANDISE OR
GRICULTURAL
RODUCT
F
S
O
OR
TORAGE
NLY
"Merchandise" or agricultural product (inventory)
inventory will be assessed at a lower percentage of
shipped into Ohio from outside Ohio, which are (1) held
true value. For tax year 1998, qualifying inventories
in a place of storage that is either owned or controlled
will be assessed at 5% of true value (see substitute
by the same party owning the subject "merchandise"
calculation on the next page).
or agricultural product (inventory); (2) are subsequently
shipped to "customers" outside of this state; and (3)
This percentage may be further reduced in future tax
while in Ohio are not further manufactured or pro-
years and eventually reach a listing percentage of zero.
cessed, are "used in business" and therefore taxable
The minimum length of time in which this can occur is
tangible personal property, ORC 5701.08, OAC Rule
five years. Each tax year's reduction is contingent upon
5703-3-21.
an increase in the total statewide collection of ad valo-
rem taxes by an amount greater than 4% or the infla-
With the enactment of Sub. H.B. No. 630 (120th Gen-
tion rate, in comparing the 2nd preceding year over
eral Assembly), effective July 22, 1994, such taxable
the 3rd preceding year.
Outside
Source
Ohio
Ohio
Taxable
Taxable
Public
Private
Warehouse
Warehouse
Customer
Customer
Taxable
Taxable
Customer Taxable
Customer
at Reduced %
Exempt
of True Value
Sub. H.B. No. 630
Self or Consignee
Exempt
"Merchandise" or agricultural product, shipped into Ohio for storage only in a facility not owned or controlled by
the owner of the inventory, and subsequently shipped out of Ohio to anyone, is not used in business and
therefore not taxable tangible personal property, ORC 5701.08, OAC Rule 57303-3-21.
NOTES:
"Merchandise" includes all items of property in salable form.
"Customer" as used herein includes all persons with whom a taxpayer normally and usually deals
as a matter of established business practice or policy. The term, however, does not include consign-
ees or bailees.
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