Okla. Admin. Code § 710:40-1-5
Current through Vol. 42, No. 7, December 16, 2024
The information contained on the balance sheet of the Franchise Tax Return shall be taken from the federal or Oklahoma Income Tax Return for the income tax year of the reporting entity immediately preceding the taxable year for which the Franchise Tax Report is being filed. If the reporting entity has not had an Oklahoma income tax year close prior to the July 1 date then the reporting entity shall indicate at the top of the balance sheet "NO INCOME TAX YEAR END" and the reporting entity shall pay the minimum tax required by the Oklahoma Franchise Tax Code. [See: 68 O.S. § 1205 ]
Okla. Admin. Code § 710:40-1-5