Rules regarding determination letter procedures

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”. Added by Laws 2006, c. 281, § 24, emerg. eff. June 7, 2006.