§ 2362. Oklahoma taxable income of a part-year resident individual, nonresident individual, a n...
Oklahoma Statutes AnnotatedTitle 68. Revenue and Taxation
68 Okl.St.Ann. § 2362
§ 2362. Oklahoma taxable income of a part-year resident individual, nonresident individual, a nonresident trust and a nonresident estate
A. For tax years beginning on or after January 1, 1994, the Oklahoma taxable income of a part-year resident individual, nonresident individual, a nonresident trust and a nonresident estate shall be calculated following the provisions of Section 2358 of this title as if all income were earned in Oklahoma.
D. Part-year resident individuals, nonresident individuals, nonresident trusts and nonresident estates shall divide adjusted gross income from Oklahoma sources by the adjusted gross income from all sources to arrive at the applicable percentage that Oklahoma adjusted gross income represents of all adjusted income received by the taxpayer in the income year.
E. Part-year resident individuals, nonresident individuals, nonresident trusts and nonresident estates shall multiply the amount of Oklahoma tax computed by the applicable percentage calculated in the preceding paragraph in order to determine the amount of income tax which must be paid to the State of Oklahoma. Nothing in this section shall be construed to allow for greater than one hundred percent (100%) of a taxpayer's income to be taxed.
6. Income from intangible personal property, including annuities, dividends, interest and gains from the disposition of intangible personal property to the extent that such income is from property employed in a trade, business, profession or occupation carried on in Oklahoma. A part-year resident individual, nonresident individual, nonresident trust or nonresident estate, other than a dealer holding property primarily for sale to customers in the ordinary course of trade or business, shall not be deemed to carry on a business, trade, profession or occupation in Oklahoma solely by reason of the purchase and sale of property for its own account;
Credits
Laws 1971, c. 137, § 12, emerg. eff. May 11, 1971; 1971 H.J.R. No. 1026, p. 1043, § 2A18, emerg. eff. June 22, 1971; Laws 1972, c. 252, § 3, emerg. eff. April 7, 1972; Laws 1989, c. 249, § 30, eff. Jan. 1, 1990; Laws 1990, c. 339, § 6, emerg. eff. May 31, 1990; Laws 1991, c. 342, § 21, eff. Jan. 1, 1992; Laws 1994, c. 278, § 27, eff. Sept. 1, 1994; Laws 2003, c. 472, § 20.
68 Okl. St. Ann. § 2362, OK ST T. 68 § 2362
Current with legislation of the Second Regular Session of the 59th Legislature (2024) effective as of July 1, 2024. Some sections may be more current, see credits for details.
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