SB 1436 Summary

• Extends the implementation timeline for the Oklahoma Business Activity Tax Code by one year, delaying the 1% net revenue tax from tax year 2012 to 2013

• Maintains the $25 annual flat tax on persons doing business in Oklahoma for tax years 2010-2013

• Implements tiered tax discounts beginning January 1, 2014, ranging from 100% discount for businesses with net revenue under $50,000 to 20% discount for those with revenue between $200,000-$250,000

• Requires consolidated federal tax filers to file consolidated returns for Oklahoma business activity tax purposes and allows affiliated groups engaged in unitary business to file combined group reports

• Changes the expiration date of the Oklahoma Business Activity Tax Code contingent on voter approval of Enrolled Senate Joint Resolution No. 52 of the 2nd Session of the 53rd Oklahoma Legislature