Okla. Admin. Code § 710:45-5-5

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

Section 710:45-5-5 - Waiver of penalty

(a) The Oklahoma Tax Commission, or a designee, may waive penalties assessed by statute for failure to timely file certain required reports, or respond to demands for information. The penalties are assessed at the rate of Five Dollars ($5.00) per day but may be waived by the Commission if the following criteria are met:

(1) All taxes due on products subject to the Gross Production Tax were timely paid, if the penalty is being waived for failure to file Monthly Production Reports or amended reports; and,

(2) The delinquent filing of the Monthly Production Reports or amended reports did not prevent timely apportionment of the tax revenues paid or remitted without such report; and,

(3) The tax reporter made written request for waiver of the penalty; and,

(4) The tax reporter showed good cause for the delinquent filing of the report, amended report, or answer to written demand for information.

(b) Waiver of the penalties in (a) of this Section shall be in writing and shall include a statement of the reasons therefor. [See: 68 O.S. § 1010 ]

Okla. Admin. Code § 710:45-5-5

Amended at 13 Ok Reg 3095, eff 7-11-96; Amended at 15 Ok Reg 2416, eff 6-11-98