{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-1209","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-1209","heading":"Capital - Computation","body":"(a) For the purpose of computing the amount of annual franchise\n\ntax levied upon and payable by the corporations, associations and\n\norganizations enumerated in Sections 1203 and 1204 of this title,\n\nthe word \"capital\" shall be construed to include the following:\n\nOutstanding capital stock, surplus and undivided profits, which\n\nshall include any amounts designated for the payment of dividends\n\nuntil such amounts are definitely and irrevocably placed to the\n\ncredit of stockholders subject to withdrawal on demand, plus the\n\namount of bonds, notes, debentures or other evidences of\n\nindebtedness maturing and payable more than three (3) years after\n\nissuance. The term \"capital\" stock where herein used shall include\n\nall written evidence of interest or ownership in the control or\n\nmanagement of a corporation or other organization. The term\n\n\"evidence of indebtedness\" where herein used shall not include any\n\ndeposit made in any bank.\n\n(b) Advances made by a parent to a subsidiary or by a subsidiary\n\nto a parent corporation, organization or association shall be\n\neliminated by both the parent and subsidiary from the calculations\n\nnecessary to determine the amount of taxable capital employed in the\n\nbusiness of either or both the parent and subsidiary. Provided,\n\nhowever, advances made for purely operating expenses may, upon\n\nproper showing, satisfactory to the Tax Commission, be included in\n\nsuch calculations.\n\n(c) The amount of capital employed in this state is hereby\n\ndeclared to be that portion of the capital of the corporation,\n\nassociation or organization which equals the proportion which the\n\nproperty owned, or property owned and business done, in Oklahoma\n\nbears to the total property owned, or total property owned and total\n\nbusiness done, by the corporation, association or organization.\n\n(d) In the determination of the amount of tax payable under this\n\narticle where intangibles are involved, such as notes, accounts\n\nreceivable, stocks, bonds, and other securities, including cash, and\n\nthe business of the corporation is managed, directed and controlled\n\nfrom within the State of Oklahoma, the value of such intangibles\n\nshall be apportioned wholly to Oklahoma, unless a commercial or\n\nbusiness situs for such intangibles has been established elsewhere.\n\n(e) Management, direction and control of the corporation's\n\nbusiness shall be deemed to be within the State of Oklahoma where\n\n(1) the corporation is incorporated under the laws of Oklahoma, or\n\n(2) where any corporation organized under the laws of some other\n\nstate transacts in Oklahoma its principal business, or maintains in\n\nthis state its \"business domicile\" or \"commercial domicile\".\n\n(f) The portion of capital of any corporation, association or\n\norganization employed in this state, shall be segregated, and its\n\nvalue stated, based upon the proportions herein prescribed, and\n\nshall be reported to the Tax Commission; and the amount of said\n\ncapital so reported shall be prima facie the measure of the value of\n\nthe capital of such corporation, association or organization,\n\napportioned to this state, for the purposes of this article.\n\n(g) The capital of a bank holding company or multi-bank holding\n\ncompany shall not include the capital, as defined in this article,\n\nof the owned bank or banks. Such banks, bank holding companies and\n\nmulti-bank holding companies each shall comply with the terms of\n\nthis article as separate corporations.","path":["OK Code","Title 68"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os68.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"9a54f75b35c6c23c6997c0a5c8a1a083c38f0ef1cbfa6268d7170b60d7737d86","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-1208","next":"us-ok/okla.-stat.-tit.-68-68-1210"},"notice":"GroundRules: Original legal text. Not legal advice."}