Oklahoma Administrative Code
Title 710 - Oklahoma Tax Commission
Chapter 40 - Franchise Tax
Section 710:40-1-10 - Inter-company balances
Universal Citation: OK Admin Code 710:40-1-10
Current through Vol. 41, No. 13, March 15, 2024
Inter-company balances shall be eliminated from the computation of capital employed on the Franchise Tax Return. A reporting entity with an inter-company receivable account or note shall eliminate such amount from the value of its assets. A reporting entity with an inter-company payable account or note shall eliminate such amount from its current liabilities. The requirements of this Section shall apply solely to inter-company eliminations between a parent and its subsidiary corporation. [See: 68 O.S. § 1209(b) ]
Amended at 20 Ok Reg 2158, eff 6-26-03
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