Okla. Stat. tit. 68, § 68-500.24
This is the official text of Okla. Stat. tit. 68, § 68-500.24, 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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Suppliers' entitlement to credit for uncollectible
Official statutory text
taxes.
A. In computing the amount of motor fuel tax due, the supplier
shall be entitled to a credit against the tax payable the amount of
tax paid by the supplier that has become uncollectible from an
eligible purchaser.
B. The supplier shall provide notice to the Commission of a
failure to collect tax within ten (10) business days following the
date on which the supplier was earliest entitled to collect the tax
from the eligible purchaser under Section 22 of this act.
C. The Commission shall adopt rules establishing the evidence a
supplier must provide to receive the credit.
D. The credit shall be claimed on the first return following
the expiration of the ten-day period as provided in this section if
the payment remains unpaid as of the filing date of that return or
the credit shall be disallowed.
E. The claim for credit shall identify the defaulting eligible
purchaser and any tax liability that remains unpaid.
F. If an eligible purchaser fails to make a timely payment of
the amount of tax due, the credit of the supplier shall be limited
to the amount due from the purchaser, plus any tax that accrues from
that purchaser for a period of ten (10) days following the date of
failure to pay.
G. No additional credit shall be allowed to a supplier under
this section until the Commission has authorized the purchaser to
make a new election under Section 23 of this act.
A. In computing the amount of motor fuel tax due, the supplier
shall be entitled to a credit against the tax payable the amount of
tax paid by the supplier that has become uncollectible from an
eligible purchaser.
B. The supplier shall provide notice to the Commission of a
failure to collect tax within ten (10) business days following the
date on which the supplier was earliest entitled to collect the tax
from the eligible purchaser under Section 22 of this act.
C. The Commission shall adopt rules establishing the evidence a
supplier must provide to receive the credit.
D. The credit shall be claimed on the first return following
the expiration of the ten-day period as provided in this section if
the payment remains unpaid as of the filing date of that return or
the credit shall be disallowed.
E. The claim for credit shall identify the defaulting eligible
purchaser and any tax liability that remains unpaid.
F. If an eligible purchaser fails to make a timely payment of
the amount of tax due, the credit of the supplier shall be limited
to the amount due from the purchaser, plus any tax that accrues from
that purchaser for a period of ten (10) days following the date of
failure to pay.
G. No additional credit shall be allowed to a supplier under
this section until the Commission has authorized the purchaser to
make a new election under Section 23 of this act.
Status: in_force · Read it on the official government site
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