Oklahoma § 63-485.10 - Annuity contracts - Purchases as salary payments
Full text of Oklahoma Oklahoma Statutes § 63-485.10 — Annuity contracts - Purchases as salary payments, with citation guidance and answers to common questions.
§ 63-485.10. Annuity contracts - Purchases as salary payments
A part of the salary, not to exceed the exclusion allowances
provided in Section 403(b)(2), Internal Revenue Code, payable to any
employee of the J.D. McCarty Center for Children with Developmental
Disabilities may, at the request of the employee, be paid by the
purchase of an annuity contract from any insurance company
authorized to do business in Oklahoma by the J.D. McCarty Center for
Children with Developmental Disabilities for the employee, and the
employee shall be entitled to have such annuity contract continued
in force in succeeding years by the J.D. McCarty Center for Children
with Developmental Disabilities. The amounts so contributed or paid
by the J.D. McCarty Center for Children with Developmental
Disabilities for the annuity contract, or to continue it in force,
shall be considered as payment of salary, for the same amounts, to
the employee for State Retirement purposes, State Aid purposes, or
Social Security purposes, but not for State Income Tax purposes.
Provided that the amount received under such annuity contracts shall
be income subject to state income tax when actually received.
Laws 1967, c. 243, § 3, emerg. eff. May 8, 1967; Laws 1981, c. 71, §
4, operative July 1, 1981; Laws 1992, c. 307, § 18, eff. July 1,
1992.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 63-485.10
What does Oklahoma Statutes § 63-485.10 cover?
Section 63-485.10 ("Annuity contracts - Purchases as salary payments") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 63-485.10?
A common citation format is "Oklahoma Statutes § 63-485.10" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 63-485.10 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.