Section 3003.11. Restatement of Tax Liability Under Treaties.--In the absence of an express exemption from State income taxes, no treaty of the Federal Government shall be construed to exempt a corporation from the taxes imposed under Articles IV and VI. For purposes of determining "taxable income" under Article IV, any corporation not subject to Federal income taxation or Federal reporting requirements pursuant to such a treaty shall be required to file a report with the department showing the taxable income which would have been reported to and ascertained by the Federal Government had it not been exempted by the treaty.
(3003.11 added Apr. 23, 1998, P.L.239, No.45)
Compiler's Note: Section 19 of Act 45 of 1998, which added section 3003.11, provided that the General Assembly declares that the intent of the addition of section 3003.11 is to clarify existing law. The addition of section 3003.11 shall not be construed to change existing law.