Oklahoma City, OK – Tax refund bill to take effect
OKLAHOMA CITY (AP) Legislation designed to speed up Oklahomans' state tax refunds takes effect on Jan. 1.
The measure by Sen. Jay Paul Gumm of Durant was passed by the Legislature last spring. It requires the Oklahoma Tax Commission to make speedy refunds to taxpayers or pay them the same interest that taxpayers would have to pay on delinquent tax payments.
Gumm says that if the state is going to charge taxpayers who make late payments, it's only fair that state government be held to the same standard when it's late returning taxpayers' money to them.
Under the law, the Tax Commission will pay interest if refunds are not made within 20 days for state tax returns filed electronically and 90 days returns filed by mail.