Section 351.10. Cancellation of Oil Company Franchise Tax account

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An oil company assigned an Oil Company Franchise Tax account which believes that it is not required to file a report or wishes to terminate its election to be deemed an oil company, may apply to the Department in writing requesting a review of its account and cancellation of its number. No Oil Company Franchise Tax account will be cancelled without the approval of the Department. A person having an Oil Company Franchise Tax account number is required to file a monthly report, whether or not tax is due, until the time that the account number has been withdrawn.

                    
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