HB2962

Oklahoma HB2962 removes time and amount limitations on tax refund claims for overpayments, especially for federally recognized Indian tribes.

Oklahoma HB2962 amends the state's tax refund laws by removing time and amount limitations on claims for refund due to overpayment. This change applies specifically to federally recognized Indian tribes, allowing them to recover taxes illegally collected from tax-exempt lands. The bill also mandates that interest at a rate of six percent per annum be paid on all refunds issued after January 1, 1996, from the date of payment by the taxpayer to the date of the refund.