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What is a “business trust?” Since the rules specify that business trusts doing business in Oklahoma are required to pay BAT of $25, does that mean any other Oklahoma trust with only investment income or BAT excluded income must file the return but does not pay the tax?

Business Trust has the same meaning as used in the Franchise Tax Code which defined the term to mean and include “common law trusts, such as Massachusetts trusts and every other business organization consisting essentially of an arrangement whereby property is conveyed to one or more trustees for purposes other than the protection and conservation of assets or the protection of debtholders;” 68 O.S. § 202(g)(4).  Non business trusts which are not doing business in Oklahoma are not required to file the BAT return or pay the corresponding tax. For example, trusts established for estate planning purposes are not required to file and pay BAT.



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