Oklahoma Administrative Code
Title 710 - Oklahoma Tax Commission
Chapter 50 - Income
Subchapter 3 - Returns and Reports
Part 7 - OTHER REQUIRED REPORTING
Section 710:50-3-52 - "Reports," "records" defined

Universal Citation: OK Admin Code 710:50-3-52

Current through Vol. 42, No. 1, September 16, 2024

(a) For the purposes of assessing penalties set out for refusal or failure to file, the "reports " required by statute from persons making production payments means each record, containing the information concerning each individual recipient of payments.

(b) The term "record " shall mean each document, if reported on Oklahoma Form 500-A, as amended, or Federal Form 1099, or each individual recipient, if reported on magnetic media or listed on a "computer listing".

(c) The term "report" or "record" does not refer cumulatively to all payments made, if made to more than one single recipient. Furthermore, each corporation, if a part of a consolidated group, must separately report for purposes of this subsection, regardless of their filing status for Income Tax Returns.

Amended at 16 Ok Reg 2646, eff 6-25-99; Amended at 18 Ok Reg 2810, eff 6-25-01

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