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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 68. REVENUE AND TAXATION

  § 68-1222. Discount against tax.  

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  • A.  On and after January 1, 2014, there shall be allowed a discount against the tax levied in subsection B of Section 1218 of this title as provided herein:

    1.  For a person for which the net revenue from its business activity is equal to or less than Fifty Thousand Dollars ($50,000.00), the person is entitled to a discount of one hundred percent (100%) of the tax due from its net revenue;

    2.  For a person for which the net revenue from its business activity is greater than Fifty Thousand Dollars ($50,000.00) but is equal to or less than One Hundred Thousand Dollars ($100,000.00), the person is entitled to a discount of eighty percent (80%) of the tax due from its net revenue;

    3.  For a person for which the net revenue from its business activity is greater than One Hundred Thousand Dollars ($100,000.00) but is equal to or less than One Hundred Fifty Thousand Dollars ($150,000.00), the person is entitled to a discount of sixty percent (60%) of the tax due from its net revenue;

    4.  For a person for which the net revenue from its business activity is greater than One Hundred Fifty Thousand Dollars ($150,000.00) but is equal to or less than Two Hundred Thousand Dollars ($200,000.00), the person is entitled to a discount of forty percent (40%) of the tax due from its net revenue; and

    5.  For a person for which the net revenue from its business activity is greater than Two Hundred Thousand Dollars ($200,000.00) but is equal to or less than Two Hundred Fifty Thousand Dollars ($250,000.00), the person is entitled to a discount of twenty percent (20%) percent of the tax due from its net revenue.

Added by Laws 2010, S.J.R. No. 61, § 9.  Amended by Laws 2012, c. 332, § 3, eff. Nov. 1, 2012.