Okla. Stat. tit. 68, § 68-2807.12
This is the official text of Okla. Stat. tit. 68, § 68-2807.12, 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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Recovery fee — Annual report to Tax Commission
Official statutory text
Annually, on or before February 15, each rental business that
collects the equipment rental recovery fee shall be required to
electronically submit to the Oklahoma Tax Commission a consolidated
report showing the aggregated personal property taxes paid in the
state during the previous calendar year and the aggregated recovery
collections in the state during the previous calendar year. If the
aggregated recovery collections in the state exceed the aggregated
taxes paid in the state, the aggregate excess shall be paid to the
county treasurers. The amount of excess paid to each county
treasurer shall be a pro rata distribution based on the amount of
personal property tax paid by the business to each county in the
previous calendar year in relation to the total personal property
tax paid in this state in the previous calendar year. No excess
collections shall be retained by the business.
collects the equipment rental recovery fee shall be required to
electronically submit to the Oklahoma Tax Commission a consolidated
report showing the aggregated personal property taxes paid in the
state during the previous calendar year and the aggregated recovery
collections in the state during the previous calendar year. If the
aggregated recovery collections in the state exceed the aggregated
taxes paid in the state, the aggregate excess shall be paid to the
county treasurers. The amount of excess paid to each county
treasurer shall be a pro rata distribution based on the amount of
personal property tax paid by the business to each county in the
previous calendar year in relation to the total personal property
tax paid in this state in the previous calendar year. No excess
collections shall be retained by the business.
Status: in_force · Read it on the official government site
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