Pursuant to the Pass-Through Entity Tax Equity Act of 2019 (68 O.S. § 2355.lP-1 et seq.), a Subchapter S Corporation may elect to pay income tax at the entity level, effective for tax year 2019 and subsequent tax years. The Oklahoma income, gains, losses or deductions of a Subchapter S Corporation that is an electing pass-through entity shall not be used to calculate the Oklahoma taxable income of the partners, members or shareholders. [See: 710:50-3-47]

Added at 38 Ok Reg 1527, eff 9-1-21

Amended at 42 Ok Reg, Number 20, effective 7-15-25