Okla. Stat. tit. 36, § 36-624.1: Tax credit for taxes paid by domestic insurer in foreign

state.

If, by the laws of any state other than this state, or by the

action of any public official of another state, any insurer or

company, as defined in Section 624 of this Code, organized or

domiciled in this state, shall be required to pay taxes for the

privilege of doing business in such other state, and such amounts

are imposed or assessed so that the taxes which are or would be

imposed against Oklahoma domestic insurance companies are greater

than those taxes required of insurers organized or domiciled in such

other states, to the extent such amounts are legally due to such

other states, an insurer or company organized or domiciled in this

state may claim a credit against the tax payable pursuant to this

article for any calendar year prior to 1989 of a sum not to exceed

one hundred percent (100%) of such amount. Provided, for the tax

attributed to premiums collected prior to July 1, 1988, the credit

shall not be greater than the tax payable for such premiums; for the

tax attributed to premiums collected on or after July 1, 1988

through December 31, 1988, the credit authorized by this section and

the investment credit authorized by Section 625 of this title shall

not reduce the tax payable for such premiums to less than one

percent (1%).

Beginning with the taxes payable for calendar year 1989, the

premium tax levied by Section 624 of this title shall not be reduced

by the credit provided for in this section.