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Chapter 1321: SMALL LOANS. 1321.01 Small loan definitions. As used in sections 1321.01 to 1321.19 of the Revised Code: "Person" includes individuals, partnerships, associations, trusts, corporations, and all other legal entities.
Installment sale. An installment sale is a sale of property where you receive at least one payment after the tax year of the sale. If you realize a gain on an installment sale, you may be able to report part of your gain when you receive each payment.