Oklahoma § 68-2370.2 Subchapter S elections.

Oklahoma Statutes

§ 68-2370.2 — Subchapter S elections.

Oklahoma § 68-2370.2

Title 68Revenue And Taxation

This text of Oklahoma § 68-2370.2 (Subchapter S elections.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 68, § 68-2370.2 (2026).

Text

Except as otherwise provided for in the Pass-Through Entity Tax Equity Act of 2019, a state banking association or national banking association having an election in effect under subchapter S of the Internal Revenue Code for any tax year beginning after December 31, 1996, in reporting items of income, loss, deductions and credits proportionately to its shareholders for inclusion in their taxable incomes, shall use as a basis items of income, loss, deductions and credits of such banking association as shown on its federal income tax return, subject to modifications as set forth in Sections 2358 and 2362 of this title.

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Except as otherwise provided for in the Pass-Through Entity Tax Equity Act of 2019, a state banking association or national banking association having an election in effect under subchapter S of the Internal Revenue Code for any tax year beginning after December 31, 1996, in reporting items of income, loss, deductions and credits proportionately to its shareholders for inclusion in their taxable incomes, shall use as a basis items of income, loss, deductions and credits of such banking association as shown on its federal income tax return, subject to modifications as set forth in Sections 2358 and 2362 of this title.

Legislative History

Added by Laws 2000, c. 5, § 2, emerg. eff. March 14, 2000. Amended by Laws 2001, c. 319, § 2, eff. July 1, 2001; Laws 2019, c. 201, § 8, emerg. eff. April 29, 2019.