us-ok/stat
Okla. Stat. tit. 68, § 2381
Applicability of act to taxable years
The provisions of this act shall apply to all taxpayers whose taxable year begins on and after January 1, 1971; provided, however, that in respect to any taxpayer whose taxable year begins in 1970 and ends in 1971, such taxpayer may, at his option, determine his tax under this act or compute his tax liability for such fiscal year ending in 1971, by using the sum of the computations of 1, and 2, as follows:
# 1.
The tax computed under the provisions of the law applicable to the calendar year 1970, multiplied by the ratio of the number of months of the year in 1970, to the total number of months of the taxable year.
# 2.
The tax computed under the provisions of this law applicable to the calendar year 1971, multiplied by the ratio of the number of months of the year in 1971, to the total number of months of the taxable year.
Amendment history
Added by Laws 1971, c. 137, § 30, emerg. eff. May 11, 1971.
Source: view the official text
Nearby sections (25 sections)
- 2370 · In lieu taxes for state, national banking associations and…
- 2370.1 · Credit against tax imposed by Section 2370
- 2370.2 · Subchapter S elections
- 2370.3 · Repealed by Laws 2013, c. 363, § 19, eff. Jan. 1, 2014
- 2372 · Returns by banking institutions
- 2373 · Claim for refund — Return required — Limitation period
- 2374 · Interest
- 2375 · Payment of tax - Delinquency - Penalties and interest -…
- 2376 · False return - Failure to return - Prosecution - Penalty
- 2377 · Prosecutions for failure to file income tax return or for filing…
- 2378 · Other taxes not in lieu of income tax
- 2379 · Taxes levied by prior laws
- 2381 · Applicability of act to taxable years
- 2382 · Invalidity clause
- 2385 · Specified tax return preparers – Electronic filing
- 2385.1 · Definitions
- 2385.2 · Amount to be withheld
- 2385.3 · Payment of taxes to Tax Commission - Statement to employee -…
- 2385.4 · Overpayments
- 2385.5 · Credit as taxes paid
- 2385.6 · Penalty for failure to pay over or file return - Failure to…
- 2385.7 · Declaration of estimated tax
- 2385.8 · Repealed by Laws 2000, c. 314, § 31, eff. July 1, 2000
- 2385.9 · Payment of estimated tax
- 2385.10 · Refunds - Filing of return as constituting claim