Oklahoma City ? Be careful when you boast.

Oklahoma college students who bragged on MySpace that their party business had served thousands of revelers have been hit with a state tax bill of $320,000.

The Oklahoman reported Sunday that 2007 tax documents indicate that the party business Kegheadz hosted more than 100 events over nearly five years.

But co-founder Julius Baroi estimates his business hosted just over 20 parties in 1 1/2 years, netting less than $2,000. Another co-founder, Jordan Glover, says tax officials were misled by “hype” on the business’ MySpace site that was designed to attract more partiers.

The site boasts that Kegheadz has “over 1 billion served.”

Tax Commission spokeswoman Paula Ross says she cannot comment.