Oklahoma § 68-1205 - Minimum and maximum taxes
Full text of Oklahoma Oklahoma Statutes § 68-1205 — Minimum and maximum taxes, with citation guidance and answers to common questions.
§ 68-1205. Minimum and maximum taxes
A. In determining the amount of tax to be levied, assessed and
collected under the terms of this Article, the maximum amount shall
not exceed Twenty Thousand Dollars ($20,000.00).
B. If, as a result of the computation of tax required by
Section 1209 of this title, the resulting liability is Two Hundred
Fifty Dollars ($250.00) or less, the corporation or other entity
shall be exempt from the tax levied by Section 1203 or Section 1204
of this title for such reporting period.
Added by Laws 1963, c. 366, § 2, eff. July 1, 1963. Renumbered from
§ 12-1205 of this title by Laws 1965, c. 215, § 2. Amended by Laws
2005, c. 388, § 1, eff. July 1, 2006; Laws 2007, c. 136, § 1, eff.
Jan. 1, 2008.
Frequently Asked Questions About Oklahoma § 68-1205
What does Oklahoma Statutes § 68-1205 cover?
Section 68-1205 ("Minimum and maximum taxes") 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 § 68-1205?
A common citation format is "Oklahoma Statutes § 68-1205" (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 § 68-1205 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.