Okla. Stat. tit. 68, § 68-2385.23
This is the official text of Okla. Stat. tit. 68, § 68-2385.23, part of Oklahoma’s Stat. tit. 68, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 68,." Browse the sections below, each linked to its official government source.
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Employer's surety bond
Official statutory text
A. The Oklahoma Tax Commission may require every employer who
is delinquent or becomes delinquent in the withholding and remitting
of taxes as required by the provisions of Sections 2385.1 through
2385.22 of Title 68 of the Oklahoma Statutes to furnish to the Tax
Commission a bond from a surety company chartered or authorized to
do business in this state, cash bond, certificates of deposits,
certificates of savings or U.S. Treasury bonds, or an assignment of
negotiable stocks or bonds, as the Tax Commission may deem necessary
to secure the withholding and remitting of taxes levied pursuant to
the Oklahoma Income Tax Act.
B. Any surety bond furnished pursuant to this section shall be
a continuing instrument and shall constitute a new and separate
obligation in the sum stated therein for each calendar year or a
portion thereof while such bond is in force. Such bond shall remain
in effect until the surety or sureties are released and discharged
by the Tax Commission.
C. The Tax Commission shall fix the amount of such bond or
other security required in each case after considering the estimated
tax liability of such employer. Such bond shall not be greater than
an amount equal to three times the amount of the average quarterly
tax liability of such employer. Any bond or security shall be such
as will protect this state against failure of an employer to
withhold and remit the taxes levied pursuant to the Oklahoma Income
Tax Act.
is delinquent or becomes delinquent in the withholding and remitting
of taxes as required by the provisions of Sections 2385.1 through
2385.22 of Title 68 of the Oklahoma Statutes to furnish to the Tax
Commission a bond from a surety company chartered or authorized to
do business in this state, cash bond, certificates of deposits,
certificates of savings or U.S. Treasury bonds, or an assignment of
negotiable stocks or bonds, as the Tax Commission may deem necessary
to secure the withholding and remitting of taxes levied pursuant to
the Oklahoma Income Tax Act.
B. Any surety bond furnished pursuant to this section shall be
a continuing instrument and shall constitute a new and separate
obligation in the sum stated therein for each calendar year or a
portion thereof while such bond is in force. Such bond shall remain
in effect until the surety or sureties are released and discharged
by the Tax Commission.
C. The Tax Commission shall fix the amount of such bond or
other security required in each case after considering the estimated
tax liability of such employer. Such bond shall not be greater than
an amount equal to three times the amount of the average quarterly
tax liability of such employer. Any bond or security shall be such
as will protect this state against failure of an employer to
withhold and remit the taxes levied pursuant to the Oklahoma Income
Tax Act.
Status: in_force · Read it on the official government site
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