{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-1360","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-1360","heading":"Exemptions - Corporations - Partnerships","body":"Exemptions - Corporations - Partnerships.\n\nThere are hereby specifically exempted from the tax levied in\n\nSection 1350 et seq. of this title:\n\n1. The transfer of tangible personal property, as follows:\n\na. from one corporation to another corporation pursuant\n\nto a reorganization. As used in this subparagraph the\n\nterm \"reorganization\" means a statutory merger or\n\nconsolidation or the acquisition by a corporation of\n\nsubstantially all of the properties of another\n\ncorporation when the consideration is solely all or a\n\npart of the voting stock of the acquiring corporation,\n\nor of its parent or subsidiary corporation,\n\nb. between wholly owned subsidiaries of a parent company\n\nand between a parent company and its wholly owned\n\nsubsidiary,\n\nc. in connection with the winding up, dissolution or\n\nliquidation of a corporation only when there is a\n\ndistribution in kind to the shareholders of the\n\nproperty of such corporation,\n\nd. to a corporation for the purpose of organization of\n\nsuch corporation where the former owners of the\n\nproperty transferred are immediately after the\n\ntransfer in control of the corporation, and the value\n\nof the stock or securities received by each is\n\nsubstantially in proportion to the value of such\n\nperson's interest in the property transferred by all\n\nthe former owners,\n\ne. to a partnership in the organization of such\n\npartnership if the former owners of the property\n\ntransferred are, immediately after the transfer,\n\nmembers of such partnership and the value of the\n\ninterest in the partnership, received by each, is\n\nsubstantially in proportion to the value of such\n\nperson's interest in the property transferred by all\n\nformer owners,\n\nf. from a partnership to the members thereof when made in\n\nkind in the dissolution of such partnership,\n\ng. to a limited liability company in the organization of\n\nthe limited liability company if the former owners of\n\nthe property transferred are, immediately after the\n\ntransfer, members of the limited liability company and\n\nthe value of the interest in the limited liability\n\ncompany received by each is substantially in\n\nproportion to the value of the interest in the\n\nproperty transferred by all the former owners, and\n\nh. from a limited liability company to the members\n\nthereof when made in kind in the dissolution of the\n\nlimited liability company; and\n\n2. Sale of an interest in tangible personal property to a\n\npartner or other person who after such sale owns a joint interest in\n\nsuch tangible personal property where the Oklahoma Sales or Use Tax\n\nhas previously been paid on such tangible personal property.","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":"496a5838861b60b6d768a1869a1561efd26c89f511058d7cceac2914b8e5b3ad","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-1359.2","next":"us-ok/okla.-stat.-tit.-68-68-1361"},"notice":"GroundRules: Original legal text. Not legal advice."}