us-ok/stat
Okla. Stat. tit. 68, § 500.23
Election to defer motor fuel tax remittances - Rescission of eligibility and election by Commission
# A.
Each purchaser that desires to make an election under
Section 500.22 of this title shall submit a request to the Oklahoma
Tax Commission for approval, setting forth such information as the
Tax Commission may require.
# B.
The Tax Commission may require a purchaser which pays the tax to a supplier to file with the Tax Commission a surety bond payable to the state, upon which the purchaser is the obligor or other financial security, in an amount satisfactory to the Tax Commission. The Tax Commission may require that the bond indemnify the Tax Commission against uncollectible tax credits claimed by the supplier under Section 500.24 of this title.
# C.
The Tax Commission shall have the authority to rescind a purchaser's eligibility and election to defer motor fuel tax remittances after a hearing and upon a showing of good cause, including failure to make timely tax-deferred payment of tax to a supplier under Section 500.22 of this title, by sending written notice to all suppliers or publishing notice of the revocation pursuant to regulations. The Tax Commission may require further assurance of the financial responsibility of the purchaser, or may increase the bond requirement for that purchaser, or any other action that the Tax Commission may require to ensure remittance of the motor fuel tax. The Tax Commission shall follow the cancellation procedures as provided in Section 212 of this title in rescinding eligible purchaser status.
Amendment history
Added by Laws 1996, c. 345, § 23, eff. Oct. 1, 1996. Amended by Laws 2005, c. 479, § 9, eff. July 1, 2005.
Source: view the official text
Nearby sections (25 sections)
- 500.11 · Perfecting exemption for exports
- 500.12 · Regulations for exempt use of kerosene
- 500.13 · Procedures for tax exempt sales of motor fuel to governmental…
- 500.14 · Perfection of certain exemptions by refund claim
- 500.15 · Perfecting exemptions for suppliers, tank wagon importers and…
- 500.16 · Procedures for claiming refund - Investigations - Credit in…
- 500.17 · Interest on refund
- 500.18 · Payment of tax by licensed occasional importers and licensed…
- 500.19 · Election regarding fuel removals from out-of-state terminals
- 500.20 · Precollection and remittance of tax by suppliers
- 500.21 · Joint and several liability of termianl operators - Remittance…
- 500.22 · Election by eligible purchasers to defer motor fuel tax…
- 500.23 · Election to defer motor fuel tax remittances - Rescission of…
- 500.24 · Suppliers' entitlement to credit for uncollectible taxes
- 500.25 · Remittance of motor fuel taxes by licensed tank wagon…
- 500.26 · Remittance by electronic funds transfer required
- 500.27 · Retainage of 0.1% of tax for administrative costs
- 500.28 · Collection of tax - Liability wholesaler, retailer, end-user,…
- 500.29 · Diversions of motor fuel - Payment of tax
- 500.30 · Deferred payment by vendors without eligible purchaser
- 500.31 · Blending untaxed materials with taxed fuels - Remittance of tax
- 500.32 · Importation of motor fuel in tank wagons - Destination within…
- 500.33 · Licenses
- 500.34 · License application process
- 500.35 · Bond - Alternative proof of financial responsibility -…