SECTION 260:40-21-3. Inclusion in income

Latest version.

If any portion or all of a benefit or benefits becomes taxable, by reason of the Flexible Benefits Plan being deemed discriminatory, the benefit(s) shall be treated as received or accrued in the taxable year of the participant in which the Plan year ends unless applicable law requires inclusion in income at some other time, in which case, such law shall be controlling.

[Source: Added at 31 Ok Reg 1358, eff 9-12-14]

                    
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