A. In determining the amount of tax to be levied, assessed and collected under the terms of this Article, the maximum amount shall not exceed Twenty Thousand Dollars ($20,000.00). B. If, as a result of the computation of tax required by Section 1209 of this title, the resulting liability is Two Hundred Fifty Dollars ($250.00) or less, the corporation or other entity shall be exempt from the tax levied by Section 1203 or Section 1204 of this title for such reporting period.Added by Laws 1963, c. 366, § 2, eff. July 1, 1963. Renumbered from § 12-1205 of this title by Laws 1965, c. 215, § 2. Amended by Laws 2005, c. 388, § 1, eff. July 1, 2006; Laws 2007, c. 136, § 1, eff. Jan. 1, 2008.
Oklahoma Legal Code