Okla. Stat. tit. 68, § 68-1407.1: Tax paid on worthless or uncollectible gross receipts -

Credit.

Any taxes paid by vendors pursuant to Sections 1406 and 1407 of

Title 68 of the Oklahoma Statutes on gross receipts represented by

accounts receivable which, on or after December 31, 1990, are found

to be worthless or uncollectible and that are eligible to be claimed

if the taxpayer kept accounts on a cash basis or could be eligible

to be claimed if the taxpayer kept accounts on an accrual basis, as

a deduction pursuant to Section 166 of the Internal Revenue Code, or

the unpaid portion of any account at the time repossession is

accomplished under the terms of a conditional sales contract, may be

credited upon subsequent reports and remittances of the tax levied

in this article, in accordance with the rules and regulations of the

Tax Commission. If such accounts are thereafter collected, the same

shall be reported and the tax shall be paid upon the amount so

collected.