CHICKASHA FED. SAV. & LOAN ASS'N v. OKLAHOMA TAX COMM'N

No. 46050.

528 P.2d 1384 (1974)

CHICKASHA FEDERAL SAVINGS AND LOAN ASSOCIATION et al. and Norman Savings and Loan Association, a State Savings and Loan Association, Appellees, v. OKLAHOMA TAX COMMISSION, Appellant.

Supreme Court of Oklahoma.

Rehearing Denied December 10, 1974.


Attorney(s) appearing for the Case

McAfee, Taft, Cates, Mark, Bond & Rucks by Richard G. Taft and Frank D. Hill, Oklahoma City, for Chickasha Federal Savings & Loan Ass'n. et al.

Benedum & Benedum by Tom R. Benedum, Norman, for Norman Savings and Loan Assn.

Albert D. Lynn, E.J. Armstrong, Lester D. Hoyt, John T. Weller, Legal Intern, Oklahoma City, for appellant.


BERRY, Justice.

Appellees are federal savings and loan associations and an Oklahoma savings and loan association which is insured by the Federal Savings and Loan Insurance Corporation. In computing their Oklahoma taxable income for the fiscal year ending June 30, 1971, appellees included amounts paid to holders of "savings deposits" and "savings" or "share accounts" for use of deposited funds. They paid taxes on these amounts...

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