Exempt business transfers.
Oklahoma City Municipal Code § 52-28
in effect§ 52-28. - Exempt business transfers.
The transfer of tangible personal property exempted from the Oklahoma Sales Tax Code (68 O.S. § 1350 et seq.) shall be exempted from the tax levied in this article. Such transfers include, but are not limited to, the following transfers:
(1) from one corporation to another corporation pursuant to a reorganization. As used in this Subsection the term "reorganization" means:
a. a statutory merger or consolidation;
b. the acquisition by a corporation of substantially all of the properties of another corporation when the consideration is solely all or a part of the voting stock of the acquiring corporation, or of its parent or subsidiary corporation;
(2) in connection with the winding up, dissolution or liquidation of a corporation if there is a distribution in kind to the shareholders of the property of such corporation;
(3) to a corporation for the purpose of organization of such corporation if the former owners of the property transferred are in control of the corporation immediately after the transfer and the stock of securities received by each is substantially in proportion to this interest in the property prior to the transfer;
(4) to a partnership in the organization of such partnership if immediately after the transfer the former owners of the property transferred are members of such partnerships and the interest in the partnership, received by each, is substantially in proportion to his interest in the property prior to the transfer;
(5) from a partnership to the members thereof if made in kind in the dissolution of such partnership.
(Code 1970, § 14-10; Code 1980, § 52-25)
Source: City of Oklahoma City, Municipal Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/ok/oklahoma_city/codes/code_of_ordinances?nodeId=OKMUCO2020_CH52TA_ARTIISATACO_S52-28EXBUTRFetched: 10/28/2026