If you owe the state of Oklahoma any back tax, you’re going to love this news! The state of Oklahoma is forgiving any penalties, interest and other collection fees due on eligible taxes, but there’s a big IF. They’ll only do it if you pay your back taxes between September 14, 2015 and November 13, 2015.
Tax types eligible for amnesty under the Voluntary Compliance Initiative include:
- Income tax
- Sales tax
- Use tax
- Mixed beverage tax
- Gasoline and diesel tax
- Gross production and petroleum excise tax
- Withholding tax
- Privilege tax
All eligible taxes must have been due and payable for any tax period or periods ending before January 1, 2015. Eligible taxpayers will receive a waiver of The Tax Commission’s authority to launch the initiative is subject to the availability of funds required to carry out the program.
This piece of tax amnesty legislation is called House Bill 2236 and was signed back in May by Oklahoma Governor Mary Fallin. The state could collect $35 million from taxpayers during this program.
If you have any questions, please call us at 405-341-7044.