For Immediate Release
February 10, 2003
OKLAHOMA VOTERS APPROVE ABATEMENT OF TAXES IN HARDSHIP CASES
In the November 2002 elections, Oklahomans passed a measure allowing the legislature to abate certain taxes in cases of economic hardship.
The Oklahoma legislature will be allowed to pass laws providing for the abatement or partial abatement of taxes. However, taxes will be abated only if:
- the collection of tax, penalty and
interest would cause the taxpayer to declare bankruptcy;
- the tax is un-collectible due to the
taxpayer’s insolvency which is beyond its control;
- the tax results from actions of a
person other than the taxpayer, whereby it would be unfair to hold the
taxpayer liable; or
- the tax is a trust tax, the tax was not collected and the taxpayer, in good faith, believed that collection was not required.
If you would like additional information
on this topic or have any questions, please contact J. Lynne Fontana,
Regional Vice President - Sales & Use Tax Group at (281) 578-3700. E-mail
lfontana@thesaltgroup.com
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