Oklahoma § 68-2370.2 - Subchapter S elections
Full text of Oklahoma Oklahoma Statutes § 68-2370.2 — Subchapter S elections, with citation guidance and answers to common questions.
§ 68-2370.2. Subchapter S elections
Except as otherwise provided for in the Pass-Through Entity Tax
Equity Act of 2019, a state banking association or national banking
association having an election in effect under subchapter S of the
Internal Revenue Code for any tax year beginning after December 31,
1996, in reporting items of income, loss, deductions and credits
proportionately to its shareholders for inclusion in their taxable
incomes, shall use as a basis items of income, loss, deductions and
credits of such banking association as shown on its federal income
tax return, subject to modifications as set forth in Sections 2358
and 2362 of this title.
Added by Laws 2000, c. 5, § 2, emerg. eff. March 14, 2000. Amended
by Laws 2001, c. 319, § 2, eff. July 1, 2001; Laws 2019, c. 201, §
8, emerg. eff. April 29, 2019.
Frequently Asked Questions About Oklahoma § 68-2370.2
What does Oklahoma Statutes § 68-2370.2 cover?
Section 68-2370.2 ("Subchapter S elections") 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 § 68-2370.2?
A common citation format is "Oklahoma Statutes § 68-2370.2" (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 § 68-2370.2 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.