OH HB104

Amends Ohio Revised Code section 5739.121 to allow vendors to claim refunds of sales tax remitted on "accounts or receivables bad debt" when private label credit accounts are charged off as uncollectible by lenders on or after January 1, 2018.

Defines "accounts or receivables bad debt" as unpaid balances on private label credit accounts that are charged off by a lender, allowing vendors to claim deductions or refunds regardless of when the original debt became worthless, with the debt's deductibility determined based on the lender's books instead of the vendor's.

Restricts the refund to vendors whose name is carried, referred to, or branded on the private label credit account, or from purchases made from the vendor's affiliates or franchisees.

Requires vendors claiming the deduction or refund to maintain books and records verifying the bad debt for inspection by the tax commissioner, and to pay tax on any subsequently collected amounts.

Establishes that credit sale transactions outstanding in an account at the time it is charged off must all be included in calculating the deduction or refund, regardless of individual transaction dates.