Oklahoma Administrative Code (Last Updated: March 11, 2021)

SECTION 710:40-1-10. Inter-company balances

Latest version.

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)]

[Source: Amended at 20 Ok Reg 2158, eff 6-26-03]

                    
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