LegalFix
Sign In

§68-2385.29. Pass-through entities – Definitions.

68 OK Stat § 68-2385.29 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

As used in Sections 23 through 25 of this act:

1. “Member” means any person who is a shareholder of an S Corporation, a partner in a general partnership, a limited partnership, or limited liability partnership, a member of a limited liability company, or a beneficiary of a trust;

2. “Nonresident” means an individual who is not a resident of or domiciled in this state, a business entity that does not have its commercial domicile in this state, or a trust not organized in this state; and

3. “Pass-through entity” means a corporation that for the applicable tax years is treated as an S Corporation under the Internal Revenue Code, general partnership, limited partnership, limited liability partnership, trust, or limited liability company that for the applicable tax year is not taxed as a corporation for federal income tax purposes.

Added by Laws 2003, c. 472, § 23.

Previous Section
§68-2385.28. Remitters - Fiduciary duty - Penalties.
Next Section
§68-2385.30. Withholding by pass-through entities – Returns – Quarterly estimated payments – Written statement of taxable income upon which withholding was based and tax withheld.