Okla. Stat. tit. 68, § 68-2370.2: Subchapter S elections

Except as otherwise provided for in the Pass-Through Entity Tax

Equity Act of 2019, a state banking association or national banking

association having an election in effect under subchapter S of the

Internal Revenue Code for any tax year beginning after December 31,

1996, in reporting items of income, loss, deductions and credits

proportionately to its shareholders for inclusion in their taxable

incomes, shall use as a basis items of income, loss, deductions and

credits of such banking association as shown on its federal income

tax return, subject to modifications as set forth in Sections 2358

and 2362 of this title.