Share “Oklahoma state Capitol briefs for July 4,...”

Oklahoma state Capitol briefs for July 4, 2013

Oklahoma state Capitol briefs for July 4, 2013
Modified: July 3, 2013 at 8:00 pm •  Published: July 4, 2013

Capitol Briefs

Commission seeks ruling review

The Oklahoma Tax Commission is asking the state Supreme Court to review an appellate court's ruling that a capital gains deduction is unconstitutional. The Oklahoma Court of Civil Appeals ruled that the deduction treats out-of-state companies differently than Oklahoma firms. The appellate court stated its ruling applies only to the 2008 tax return of the company that filed the appeal. But apparently concerned about other legal challenges, the Tax Commission is asking justices to review the ruling. The Tax Commission, in papers filed with the Supreme Court, said the Court of Civil Appeals incorrectly applied U.S. and Oklahoma Supreme Court decisions to come up with its ruling. Tax Commission attorneys also are seeking permission to make oral arguments in the case, saying the ruling, if allowed to stand, could generate as much as $450 million in claims for refunds for income tax paid. The Court of Civil Appeals ruled that the capital gains deduction, which took effect Jan. 1, 2006, violates the commerce clause of the U.S. Constitution. The court, in a 3-0 ruling, reversed an opinion by the Tax Commission, which denied an appeal from CDR Systems Corp., stating it also should have received the deduction. Capital gains include money from the sale of real estate, stocks or personal property. The appellate court found that the Oklahoma capital gains deduction discriminates against out-of-state companies because it affords state companies different treatment for similar taxable events. Tax Commission attorneys said the law allowing the deduction applies to any corporation, estate or trust and does not limit the availability of the deduction to in-state companies but limits it to gains received from the sale of certain types of property in the state.

Continue reading this story on the...


  1. 1
    Dispute: Was Cecil the lion's brother, Jericho, killed?
  2. 2
    An Oklahoma Immigrant's Experience, Recast As Noir, In 'Dragonfish'
  3. 3
    Summer well spent: Youths shadow professionals in mentoring program
  4. 4
    Norman residents disturbed after seeing vulgar, racist graffiti on homes, vehicles
  5. 5
    Vinita police chief: Extreme sunburn case still under investigation, drawing international media...
+ show more


× Trending politics Article