{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-2367","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-2367","heading":"Consolidated returns","body":"The provisions of the Internal Revenue Code, 26 U.S.C., Section\n\n1 et seq., applicable to consolidated corporate income tax returns,\n\nshall not apply to taxpayers under this act, except that:\n\n1. If two or more corporations file federal income tax returns\n\non a consolidated basis, and if all of such corporations derive all\n\nof their income from sources within Oklahoma, then such corporations\n\nshall be required to file consolidated returns for purposes of\n\ndetermining their Oklahoma income tax liability.\n\n2. If two or more corporations file federal income tax returns\n\non a consolidated basis, and if one or more of such corporations\n\nderive a portion of their income from sources outside the State of\n\nOklahoma, then such corporations shall not be required to file\n\nconsolidated returns for purposes of determining their Oklahoma\n\nincome tax liability except as hereinafter provided in subsection 3\n\nof this section.\n\n3. The Oklahoma Tax Commission shall permit an affiliated group\n\nof corporations described in subsection 2 of this section to elect\n\nto file a consolidated return for Oklahoma income tax purposes\n\nprovided such group files an appropriate election in accordance with\n\nregulations to be promulgated by the Tax Commission. If an\n\naffiliated group of corporations elects to file a consolidated\n\nOklahoma income tax return under the provisions of this section,\n\nsuch election shall be binding and the affiliated group of\n\ncorporations shall be required to file a consolidated Oklahoma\n\nincome tax return for future tax years unless the Oklahoma Tax\n\nCommission releases the affiliated group of corporations from such\n\nelection. If an affiliated group of corporations elects to file a\n\nconsolidated Oklahoma income tax return under the provisions of this\n\nsubsection, the group's consolidated income, loss or deductions\n\nshall be determined on a component member by component member basis\n\nin accordance with the provisions of Sections 2358 and 2362 of this\n\ntitle.","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":"121229c39a4bb8b026cc7016ff028a97569fffaddee4ba4081df470147e90214","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-2366","next":"us-ok/okla.-stat.-tit.-68-68-2368"},"notice":"GroundRules: Original legal text. Not legal advice."}