Statutes, codes, and regulations
Oklahoma Administrative Code
Title 710 - Oklahoma Tax CommissionChapter 50 - Income
Subchapter 21 - Oklahoma Taxable Income for Subchapter "S" Corporations
Section 710:50-21-4 - S Corporations that make an election under the Pass-Through Entity Tax Equity Act of 2019

Okla. Admin. Code § 710:50-21-4

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Current through Vol. 42, No. 4, November 1, 2024
Section 710:50-21-4 - S Corporations that make an election under the Pass-Through Entity Tax Equity Act of 2019

Pursuant to the Pass-Through Entity Tax Equity Act of 2019 (68 O.S. S 2355.lP-1 et seq.), a Subchapter S Corporation may elect to pay income tax at the entity level, effective for tax year 2019 and subsequent tax years. The Oklahoma income, gains, losses or deductions of a Subchapter S Corporation that is an electing pass-through entity shall not be used to calculate the Oklahoma taxable income of the partners, members or shareholders. [See: 710:50:3-49]

Okla. Admin. Code § 710:50-21-4

Adopted by Oklahoma Register, Volume 38, Issue 23, August 16, 2021, eff. 9/1/2021