Okla. Stat. tit. 68, § 68-2370.2
This is the official text of Okla. Stat. tit. 68, § 68-2370.2, 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.
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Subchapter S elections
Official statutory 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.
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.
Status: in_force · Read it on the official government site
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