Okla. Stat. tit. 68, § 68-2357.401

Oklahoma Statutes - Title 68. Revenue and Taxation Page 898

A. Except as otherwise provided by subsections B and C of this

section, for taxable years beginning January 1, 2009, and ending

before January 1, 2017, there shall be allowed a credit against the

tax imposed pursuant to Section 2355 of this title in the amount of

all electronic funds transfers fees paid by an individual or entity

pursuant to Section 2-503.1j of Title 63 of the Oklahoma Statutes.

B. For any fees paid by a person or entity for the taxable year

beginning January 1, 2009, the credit otherwise authorized by this

section shall not be claimed for an individual prior to January 1,

2011. Subject to the requirements of this subsection, an individual

taxpayer shall be able to claim the credit authorized by this

section for all fees paid during the tax year ending December 31,

2009, and the tax year ending December 31, 2010, on the income tax

return filed for the tax year ending December 31, 2010.

C. For any fees paid by an entity other than a natural person

for the taxable year beginning January 1, 2009, the credit otherwise

authorized by this section shall not be claimed on an income tax

return prior to January 1, 2011. Subject to the requirements of

this subsection, an entity other than a natural person shall be able

to claim the credit authorized by this section for all fees paid

during a tax year ending at any time during calendar year 2009 and

for all fees paid during calendar year 2010 on the income tax return

filed for the tax year ending not later than December 31, 2010.

D. The credit authorized by this section shall not be used to

reduce the income tax liability of the taxpayer to less than zero

(0).

E. To the extent not used in any taxable year, the credit

authorized by this section may be carried over, in order, to each of

the five (5) succeeding taxable years.