Okla. Admin. Code § 710:90-1-11

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

Section 710:90-1-11 - Records

(a) Required records described in this Section shall be kept accurately, but no particular form is required for keeping the records. Such forms and systems of accounting shall be used as will enable the Commission to determine whether liability for tax is incurred, and if so, the amount thereof.

(b) An employer must maintain required records for at least four years after the due date of such withholding tax for the return period to which the records relate, or the date the tax is paid, whichever is the later.

(c) The specific records required to be kept are:

(1) The employer's identification number;

(2) Copies of all returns, reports, and other documents concerning Oklahoma Withholding Tax to include the business registration, employer's return of tax withheld, annual reconciliation and appropriate wage and tax statements;

(3) Copies of Internal Revenue Service Forms 940 and 941, Oklahoma Employers Quarterly Contribution Report (OESC) and Oklahoma Quarterly Wage Withholding Tax Return (OTC);

(4) The dates and amounts of Oklahoma Withholding Tax payments made and copies of cancelled checks;

(5) Each employee's name, address, occupation, social security number, and periods of employment;

(6) The total amount of and date of each wage payment and the period of time the payment covers;

(7) For each wage payment, the amount subject to withholding;

(8) The amount of Withholding Tax collected on each payment and the date it was collected;

(9) The employee's withholding allowance certificate (Federal Form W-4 executed prior to March 1, 2018 or Oklahoma Form W-4) filed by each employee;

(10) Any agreement between the employer and the employee for the voluntary withholding of additional amounts of tax or of amounts which are not required to be withheld;

(11) A chart of accounts;

(12) Copies of filed Federal and State Income Tax Returns and supporting schedules; and

(13) Books of original entry, ledgers, and any other information necessary to substantiate the amount of tax withheld and paid or to support any reason the employer may have for not withholding Income Tax.

Okla. Admin. Code § 710:90-1-11

Amended by Oklahoma Register, Volume 35, Issue 24, September 4, 2018, eff. 9/14/2018

Amended by Oklahoma Register, Volume 36, Issue 22, August 1, 2019, eff. 8/11/2019