SECTION 710:95-4-4. Collection, reporting, remittance of the tax; interest and penalties

(a)   The tax is to be collected by the rental business at the time of the payment of the rental agreement.

(b)   The following filing requirements apply to all taxpayers required to report and remit tax on motor vehicle rentals:

(1)   Taxpayers must report the tax on forms prescribed and furnished by the Oklahoma Tax Commission.

(2)   Returns are due on the 20^th day of each month, for the liability incurred the previous calendar month. However, taxpayers who are permitted to file semiannual sales tax reports pursuant to 68 O.S. §1365(E) may file semiannual Rental Tax Reports and remit taxes due thereunder to the Tax Commission on or before the 20^th day of January and July of each year for the preceding six-month period.

(c)   If payment of the tax is not postmarked or delivered to the Oklahoma Tax Commission on or before the 20^th of the month, the tax shall be delinquent from that date. Reports timely mailed shall be considered timely filed. If a remittance is not timely made, interest at the rate of one and one-fourth percent (1 ¼ %) per month shall be charged from the date the remittance should have been made until the tax is actually paid.

(d)   If payment of the tax due is not made within thirty (30) days of the due date, a ten percent (10%) penalty will be applied.

[Source: Added at 30 Ok Reg 1870, eff 7-11-13; Amended at 31 Ok Reg 2453, eff 9-12-14]