Form Fit Ref - Application For Financial Institutions Tax Refund Page 2
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1
2FIT REF
Information and Pertinent Law Sections
Prescribed 4/13
To the extent that a refund is granted on this application, either
payment relates shall be deemed to have been made on
in whole or in part, the Department of Taxation will calculate
the due date of the report.
and include the appropriate amount of interest in the refund
(B) Upon the fi ling of a refund application, the tax com-
payment made to the applicant. The applicant should not
missioner shall determine the amount of refund to which
include such interest in the "Total amount of refund claimed."
the applicant is entitled. If the amount is not less than
Financial institutions tax refunds are governed by R.C. section
that claimed, the commissioner shall certify the amount
5726.30, which provides in pertinent part as follows:
to the director of budget and management and treasurer
of state for payment from the tax refund fund created un-
(A) The tax commissioner shall refund the amount of tax-
der section 5703.052 of the Revised Code. If the amount
es imposed under this chapter that a person overpaid,
is less than that claimed, the commissioner shall proceed
paid illegally or erroneously, or paid on an illegal or er-
in accordance with section 5703.70 of the Revised Code.
roneous assessment. The person shall fi le an applica-
tion for refund with the tax commissioner, on the form
(C)(1) Except as provided in division (C)(2) of this sec-
prescribed by the commissioner, within four years after
tion, interest on a refund applied for under this section,
the date of the illegal or erroneous payment of the tax, or
computed at the rate provided for in section 5703.47 of
within any additional period allowed under division (B) of
the Revised Code, shall be allowed from the later of the
section 5726.20 of the Revised Code. The applicant shall
date the tax was paid or the date the tax payment was
provide the amount of the requested refund along with
due until the refund is paid.
the claimed reasons for, and documentation to support,
(2) No interest shall be allowed under this section on an
the issuance of a refund.
amount refunded to a person to the extent that the refund
For purposes of this division, a payment that an applicant
results from the allowance of a refundable credit against
made before the due date for fi ling the report to which the
the tax imposed by section 5726.02 of the Revised Code.
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