Okla. Admin. Code § 612:25-6-21

Current through Vol. 42, No. 7, December 16, 2024

Section 612:25-6-21 - Business expenses

Business expenses calculated as a flat-rate percentage of gross sales may be deducted from gross sales on the licensed manager's monthly report to the SLA. The percentage of gross sales which may be reported as a business expense deduction shall be set by the Business Enterprise Program SLA in consultation with the Elected Committee of Licensed Managers and shall be determined using available historical data and industry standards. The percentage rate will be reviewed annually to ensure it continues to reflect average monthly expenditures attributable to standard business expenses.

Added at 14 Ok Reg 1472, eff 7-1-97; Amended at 16 Ok Reg 1713, eff 4-13-99 through 7-14-00 (emergency)¹; Amended at 19 Ok Reg 1838, eff 7-1-02; Amended at 20 Ok Reg 1808, eff 7-1-03; Amended at 29 Ok Reg 1447, eff 7-1-12

Amended by Oklahoma Register, Volume 32, Issue 23, August 17, 2015, eff. 8/27/2015

¹This emergency action expired without being superseded by a permanent action. Upon expiration of an emergency amendatory action, the last effective permanent text of the Section is reinstated. Therefore, on 7-15-00 (after the 7-14-00 expiration of the emergency action), the text of 612:25-6-21 reverted back to the permanent text that became effective on 7-1-97, as was last published in the 1999 OAC Supplement, and remained as such until amended by permanent action on 7-1-02.