Okla. Stat. tit. 68, § 68-2367
This is the official text of Okla. Stat. tit. 68, § 68-2367, part of Oklahoma’s Stat. tit. 68, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 68,." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Consolidated returns
Official statutory text
The provisions of the Internal Revenue Code, 26 U.S.C., Section
1 et seq., applicable to consolidated corporate income tax returns,
shall not apply to taxpayers under this act, except that:
1. If two or more corporations file federal income tax returns
on a consolidated basis, and if all of such corporations derive all
of their income from sources within Oklahoma, then such corporations
shall be required to file consolidated returns for purposes of
determining their Oklahoma income tax liability.
2. If two or more corporations file federal income tax returns
on a consolidated basis, and if one or more of such corporations
derive a portion of their income from sources outside the State of
Oklahoma, then such corporations shall not be required to file
consolidated returns for purposes of determining their Oklahoma
income tax liability except as hereinafter provided in subsection 3
of this section.
3. The Oklahoma Tax Commission shall permit an affiliated group
of corporations described in subsection 2 of this section to elect
to file a consolidated return for Oklahoma income tax purposes
provided such group files an appropriate election in accordance with
regulations to be promulgated by the Tax Commission. If an
affiliated group of corporations elects to file a consolidated
Oklahoma income tax return under the provisions of this section,
such election shall be binding and the affiliated group of
corporations shall be required to file a consolidated Oklahoma
income tax return for future tax years unless the Oklahoma Tax
Commission releases the affiliated group of corporations from such
election. If an affiliated group of corporations elects to file a
consolidated Oklahoma income tax return under the provisions of this
subsection, the group's consolidated income, loss or deductions
shall be determined on a component member by component member basis
in accordance with the provisions of Sections 2358 and 2362 of this
title.
1 et seq., applicable to consolidated corporate income tax returns,
shall not apply to taxpayers under this act, except that:
1. If two or more corporations file federal income tax returns
on a consolidated basis, and if all of such corporations derive all
of their income from sources within Oklahoma, then such corporations
shall be required to file consolidated returns for purposes of
determining their Oklahoma income tax liability.
2. If two or more corporations file federal income tax returns
on a consolidated basis, and if one or more of such corporations
derive a portion of their income from sources outside the State of
Oklahoma, then such corporations shall not be required to file
consolidated returns for purposes of determining their Oklahoma
income tax liability except as hereinafter provided in subsection 3
of this section.
3. The Oklahoma Tax Commission shall permit an affiliated group
of corporations described in subsection 2 of this section to elect
to file a consolidated return for Oklahoma income tax purposes
provided such group files an appropriate election in accordance with
regulations to be promulgated by the Tax Commission. If an
affiliated group of corporations elects to file a consolidated
Oklahoma income tax return under the provisions of this section,
such election shall be binding and the affiliated group of
corporations shall be required to file a consolidated Oklahoma
income tax return for future tax years unless the Oklahoma Tax
Commission releases the affiliated group of corporations from such
election. If an affiliated group of corporations elects to file a
consolidated Oklahoma income tax return under the provisions of this
subsection, the group's consolidated income, loss or deductions
shall be determined on a component member by component member basis
in accordance with the provisions of Sections 2358 and 2362 of this
title.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.