Oklahoma Administrative Code
Title 710 - Oklahoma Tax Commission
Chapter 50 - Income
Subchapter 15 - Oklahoma Taxable Income
Part 5 - OTHER ADJUSTMENTS TO INCOME
Section 710:50-15-65 - Discharge of indebtedness - individuals engaged in production agriculture

For taxable years beginning after December 31, 1999, individuals engaged in production agriculture who filed a Schedule F form with the taxpayer's federal income tax return for such taxable year, may exclude from Oklahoma taxable income, any amount that was included in federal taxable income or federal adjusted gross income, which consisted of the discharge of an obligation by a creditor of the taxpayer incurred to finance the production of agricultural products. [See: 68 O.S. § 2358(E)(15) ]

Added at 18 Ok Reg 2810, eff 6-25-01