Home
Blogs
Recent Updates
Known abuses
Claimed investments
Tax credits used
The financial shell games
Extent of false reporting
About this fraud flawed law
Guide to flaws in the law
Colorado land scamSECTION 24. NEW LAW A new section of law to be codified in the Oklahoma Statutes as Section 2357.74D of Title 68, unless there is created a duplication in numbering, reads as follows:
A. The Oklahoma Tax Commission shall promulgate rules establishing procedures under which:
1. A qualified rural small business capital company may, prior to making an investment in an Oklahoma rural small business venture, request a determination letter from the Tax Commission that a business in which it proposes to invest is an Oklahoma rural small business venture ;
2. A person or entity may request a determination letter that a company meets the definition of a qualified rural small business capital company ; and
3. A person or entity may request a determination letter that a transfer of funds meets the definition of a qualified investment .