The Enid News and Eagle, Enid, OK

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August 23, 2011

Wade Patterson named to tax reform task force

By Robert Barron, Staff Writer Enid News and Eagle

ENID — Garfield County Assessor Wade Patterson has been named to a statewide Task Force on Comprehensive Tax Reform by Gov. Mary Fallin.

The task force makes recommendations on how to simplify the Oklahoma tax code for individuals and businesses. The task force will conclude its work in August 2012.

Patterson already was a member of the committee, appointed last year by former Gov. Brad Henry, but the panel never met. The task force was set up to study the tax status of intangibles following a Oklahoma Supreme Court ruling publicly traded companies’ intangibles were taxable. Intangibles include a company’s trademark, patents and software.

“That’s where so much ... value comes in their program, the way they do business. You are valuing a unit as a whole, not the assets,” Patterson said.

The Supreme Court ruling applies to publicly traded companies, such as Enid’s Continental Resources.

The task force then was expanded to find ways to improve the tax code. Patterson said he does not know any of the members of the committee and has not been notified when the first meeting will be. He said the task force also may discuss tax incentives provided by the state.

“The original purpose was to simplify the Oklahoma tax code for individuals and businesses, that’s the broad stroke,” he said.

Also named to the task force are:

• Rick Dowell, of Norman, president of Dowell Properties.

• Don Millican, of Broken Arrow, chief financial officer for Kaiser-Francis Oil Co.

• Chuck Mills, of Shawnee, president of Mills Machine Co.

• Dana Weber, of Tulsa, president of Webco Industries.

• Nick Tricinella, of Edmond, a tax attorney with Chesapeake Energy.

• Bryan Gonterman, of Edmond, president of AT&T Oklahoma.

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