Oklahoma Administrative Code
Title 710 - Oklahoma Tax Commission
Chapter 50 - Income
Subchapter 15 - Oklahoma Taxable Income
Part 5 - OTHER ADJUSTMENTS TO INCOME
Section 710:50-15-54 - Federal tax deduction
Universal Citation: OK Admin Code 710:50-15-54
Current through Vol. 42, No. 1, September 16, 2024
Federal income tax deduction shall include federal income tax, foreign income tax, surtaxes imposed on income or excess profits taxes, less any credits allowed by the Internal Revenue Service. The deduction for federal income taxes allowed on the Oklahoma income tax return is computed as though the taxpayer were on the accrual basis of accounting. [See: 68 O.S. § 2358(E)(7)(c) ]
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