For the Purpose of Local Income Tax Liability, Does "Net Profits" Include Proceeds from Exercise of Stock Options?

James L. Gessler [sic] and Angeline O. Gessler [sic] v. City of Worthington Income Tax Board of Appeals and Steven R. Gandee [Molly Roberts], Finance Director, Case no. 2012-2105

Ohio Board of Tax Appeals

ISSUE: Did the Ohio Board of Tax Appeals err when it determined that the definition of "net profits" in the City of Worthington's income tax ordinance exceeded the limitations imposed on the taxing authority of municipalities in Ohio Revised Code Chapter 718 and, in so doing, upheld a decision by the City of Worthington Income Tax Board of Appeals that denied a request for refund of taxes paid by a Worthington couple?