Oklahoma § 68-2366 - Allocation of income and deductions
Full text of Oklahoma Oklahoma Statutes § 68-2366 — Allocation of income and deductions, with citation guidance and answers to common questions.
§ 68-2366. Allocation of income and deductions
The Tax Commission may allocate gross income, gains, losses,
deductions, credits or allowances between two or more organizations,
trades or businesses (whether or not incorporated, or organized in
the United States or affiliated) owned or controlled directly or
indirectly by the same interests, if the Tax Commission reasonably
determines such allocation is necessary to prevent evasion of taxes
or to clearly reflect income of the organizations, trades or
businesses. Each such organization shall be deemed to be
transacting business in Oklahoma and subject to all the provisions
of this act. This section shall apply only with respect to related
organizations, trades or businesses which in the aggregate derive
income both within and outside the State of Oklahoma and then only
Oklahoma Statutes - Title 68. Revenue and Taxation
with respect to such income, deductions, credits or allowances
related thereto.
Added by Laws 1971, c. 137, § 16, emerg. eff. May 11, 1971.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 68-2366
What does Oklahoma Statutes § 68-2366 cover?
Section 68-2366 ("Allocation of income and deductions") 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 § 68-2366?
A common citation format is "Oklahoma Statutes § 68-2366" (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 § 68-2366 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.