710:50-3-52 "Reports," "records" defined

Official source

(a) For the purposes of assessing penalties set out for refusal or failure to file, the " reports " required by statute from persons making production payments means each record, containing the information concerning each individual recipient of payments. (b) The term " record " shall mean each document, if reported on Oklahoma Form 500-A, as amended, or Federal Form 1099, or each individual recipient, if reported on magnetic media or listed on a "computer listing". (c) The term "report" or "record" does not refer cumulatively to all payments made, if made to more than one single recipient. Furthermore, each corporation, if a part of a consolidated group, must separately report for purposes of this subsection, regardless of their filing status for Income Tax Returns.

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710:50-3-52 "Reports," "records" defined

Official source

(a) For the purposes of assessing penalties set out for refusal or failure to file, the " reports " required by statute from persons making production payments means each record, containing the information concerning each individual recipient of payments. (b) The term " record " shall mean each document, if reported on Oklahoma Form 500-A, as amended, or Federal Form 1099, or each individual recipient, if reported on magnetic media or listed on a "computer listing". (c) The term "report" or "record" does not refer cumulatively to all payments made, if made to more than one single recipient. Furthermore, each corporation, if a part of a consolidated group, must separately report for purposes of this subsection, regardless of their filing status for Income Tax Returns.