Okla. Admin. Code § 710:30-1-10

Current through Vol. 42, No. 7, December 16, 2024

Section 710:30-1-10 - Duties and responsibilities of the county clerk

County clerks are responsible for selling documentary stamps to the taxpayers and have the duty of accounting for the stamps to the Oklahoma Tax Commission. For the purpose of collecting the stamp tax, the county clerks act as agents of the Oklahoma Tax Commission.

(1) Documentary stamps are to be purchased only from the county clerk of the county in which the realty conveyed is located. If the property being conveyed by the deed is located in more than one county, the stamps will be purchased from the county in which the original deed is filed. Certified copies of such deed, showing stamps affixed, can then be filed with the other county or counties where the property is located.

(2) In order to make a correct determination of tax due, the county clerks shall have the duty to request taxpayers to produce satisfactory documentation which correctly discloses the value of the property. The total value of the consideration paid can be determined from a real estate purchase contract, closing statement, bill of sale, completed, signed and dated OTC Form 961, or any other documentation showing the total price of the property sold.

(3) County clerks shall make sure that the documentary stamps are not sold over the counter. The stamps can only be sold when the tax is paid and the stamps affixed to the deed. Stamps are to be sold only when the deed is offered for recording.

(4) County clerks shall make sure that the proper amount of stamps are affixed. Metering machines may not be used to collect an odd tax amount or, in other words, to collect an amount of tax that is not a multiple of 75 cents. Stamps worth 75 cents must be affixed for each $500.00 (or any fractional part thereof) of the consideration. When a metering machine is used, a single stamp can be printed for the total tax amount rather than attaching multiple stamps. However, whether a metering machine is used or not does not change the tax amount. Thus 75 cents is still required for each $500.00 of consideration or fractional part thereof. This can be illustrated by the following example: The selling price of Blackacre is $30,250.00. Based on this consideration paid, the deed will require 61 documentary stamps at 75 cents each, which computes to a tax amount of $45.75. It is improper to use a metering machine to calculate the tax on 60.5 documentary stamps, or $45.38.

(5) If the taxpayer claims exemption from the payment of the documentary stamp tax, and there is no notation on the deed indicating the reason for the claiming of the exemption, the county clerk shall require documentation detailing the reason for claiming the exemption.

Okla. Admin. Code § 710:30-1-10

Amended at 11 Ok Reg 3493, eff 6-26-94; Amended at 11 Ok Reg 3943, eff 7-11-94

Amended by Oklahoma Register, Volume 40, Issue 22, August 1, 2023, eff. 8/11/2023