Oklahoma HB1204 modifies interest rates on delinquent taxes and refunds.
Oklahoma HB1204 amends the state's tax laws to change the interest rates on delinquent taxes and refunds. It sets the interest rate for delinquent taxes at one and one-quarter percent (1 1/4%) per month from the date of delinquency until paid, plus two (2) percentage points. For refunds, the bill specifies that interest should be paid if a refund is not issued within 45 days for electronically filed returns and 90 days for all other returns. The changes apply to tax years 1987 and subsequent years.
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