Tax Amnesty Program
The Oklahoma Legislature has enacted legislation authorizing the Oklahoma Tax Commission (“OTC”) to administer a tax amnesty program. The tax amnesty program applies to most of the taxes administered by the OTC. Under the tax amnesty program, for qualified taxpayers who comply with the program’s requirements, the OTC will waive penalties, accrued interest and other costs and fees on unpaid eligible taxes which were due and payable for any tax period prior to January 1, 2015. The tax amnesty program runs from September 14, 2015 through November 13, 2015. It may be possible to pay the tax amount over a six month period.
Eligible taxes include corporate and personal income tax, sales and use tax, withholding tax, gasoline and diesel taxes, gross production and petroleum excise taxes, mixed beverage taxes and privilege taxes for credit unions and banking association. It is anticipated that this tax amnesty program will produce revenue of approximately $35,000,000.00.
For assistance with the tax amnesty program or any other tax issues, contact Tim Larason, Jesse Chapel, or Ryan Duffy at 405-272-9241.
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Posted on Tue, September 1, 2015
by Andrews Davis filed under