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Title 68. Revenue and Taxation |
Oklahoma Statutes Citationized
Title 68. Revenue and Taxation
Chapter 1 - Tax Codes
Small Business Capital Formation Incentive Act
Article 23 - Income Tax
Section 2357.63E -
- Timing
Cite as: O.S. ยง, __ __
1. Such qualified investment is made prior to November 1, 2006, to satisfy a legitimate business purpose of the entity receiving such investment which is consistent with its organizational instrument, bylaws or other agreement responsible for the governance of the business venture;
2. The investor's funds were at risk; and
3. The investment was not made chiefly for the purpose of reducing tax liability.
B. Any investment in a qualified small business Capital company or an Oklahoma small business venture that occurs on or after November 1, 2006, shall be subject to all of the provisions of the Small Business Capital Formation Incentive Act as amended by the provisions of this legislative measure.
Historical Data
Added by Laws 2006, SB 1577, c. 281, A7 14, emerg. eff. June 7, 2006.
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