{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-2359","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-2359","heading":"Exempted organizations","body":"A. A person or organization exempt from federal income taxation\n\nunder the provisions of the Internal Revenue Code shall also be\n\nexempt from the tax imposed by Section 2351 et seq. of this title in\n\neach year in which such person or organization satisfies the\n\nrequirements of the Internal Revenue Code for exemption from federal\n\nincome taxation. If the exemption applicable to any person or\n\norganization under the provisions of the Internal Revenue Code is\n\nlimited or qualified in any manner, the exemption from taxes imposed\n\nby this article shall be limited or qualified in a similar manner.\n\nB. Notwithstanding the provisions of subsection A of this\n\nsection, the unrelated business taxable income or other income\n\nsubject to tax, as computed under the provisions of the Internal\n\nRevenue Code, of any person or organization exempt from the tax\n\nimposed by Section 2351 et seq. of this title and subject to the tax\n\nimposed on such income by the Internal Revenue Code shall be subject\n\nto the tax which would have been imposed by this act but for the\n\nprovisions of subsection A of this section.\n\nC. Insurance companies paying, during or for the taxable year,\n\na tax to this state on gross premium income shall be exempt from the\n\nprovisions of this article and the taxes levied thereby.\n\nD. Royalty earned by an inventor from products developed and\n\nmanufactured in this state shall be exempt from the tax imposed by\n\nSection 2355 of this title for a seven-year period, pursuant to the\n\nprovisions of Section 5064.7 of Title 74 of the Oklahoma Statutes.\n\nE. Tenants of small business incubators shall be exempt for the\n\ntax imposed by Section 2355 of this title, pursuant to the\n\nprovisions of Section 5078 of Title 74 of the Oklahoma Statutes.","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":"5c5312659d21efb2ce23d765051967110687ecb90c092ce65b0d74b46af4dbb1","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-2358v3","next":"us-ok/okla.-stat.-tit.-68-68-236"},"notice":"GroundRules: Original legal text. Not legal advice."}