§ 219.1. Abatement of tax liability and interest and penalties accruing thereto--Settlement agr...
Oklahoma Statutes AnnotatedTitle 68. Revenue and TaxationEffective: July 1, 2018
Effective: July 1, 2018
68 Okl.St.Ann. § 219.1
§ 219.1. Abatement of tax liability and interest and penalties accruing thereto--Settlement agreement--Considerations
A. In accordance with the provisions of the amendment to Section 5 of Article X of the Oklahoma Constitution as set forth in Senate Joint Resolution No. 32 of the 2nd Session of the 48th Oklahoma Legislature, the Oklahoma Tax Commission is hereby authorized to abate all or any portion of tax liability and interest and penalties accruing thereto, pursuant to a settlement agreement entered into with a taxpayer, if the Tax Commission finds, by clear and convincing evidence, that:
D. Any abatement of tax liability authorized by this section shall only be granted by a unanimous vote of the members of the Tax Commission. The decision of the members of the Tax Commission in denying the abatement of any tax liability pursuant to this section shall be final and no right of appeal to any court may be taken from such decision.
E. In any case where the amount of tax liability to be abated pursuant to an agreement entered into pursuant to the provisions of this section exceeds Twenty-five Thousand Dollars ($25,000.00), the agreement shall not become effective until it shall have been approved by one of the judges of the district court of Oklahoma County, after a full hearing thereon. Such judge shall be assigned to the matter by the chief judge on a rotating basis.
F. The provisions of this section shall not be construed to grant any legal right to any taxpayer for the abatement of any tax liability. A decision to grant abatement of tax liability pursuant to the provisions of this section shall be a discretionary act within the authority of the members of the Tax Commission.
Credits
Laws 2002, c. 162, § 1, emerg. eff. April 30, 2002; Laws 2005, c. 362, § 2, eff. Nov. 1, 2005; Laws 2018, c. 66, § 3, eff. July 1, 2018.
68 Okl. St. Ann. § 219.1, OK ST T. 68 § 219.1
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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