{"data":{"id":"us-ok/okla.-stat.-tit.-63-63-2-503.1j","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 63, § 63-2-503.1j","heading":"Money and wire transmission fee - Quarterly","body":"remittance - Notice of income tax credit - Enforcement.\n\nA. Any licensee of a money transmission, transmitter or wire\n\ntransmitter business pursuant to the Oklahoma Financial Transaction\n\nReporting Act and their delegates shall collect a fee of Five\n\nDollars ($5.00) for each transaction not in excess of Five Hundred\n\nDollars ($500.00) and in addition to such fee an amount equal to one\n\npercent (1%) of the amount in excess of Five Hundred Dollars\n\n($500.00).\n\nB. The fee prescribed by subsection A of this section shall be\n\nremitted quarterly to the Oklahoma Tax Commission on such forms as\n\nthe Commission, with the assistance of the Oklahoma State Bureau of\n\nNarcotics and Dangerous Drugs Control, may prescribe for such\n\npurpose. All required forms and remittances shall be filed with the\n\nTax Commission not later than the fifteenth day of the month\n\nfollowing the close of each calendar quarter.\n\nC. The Oklahoma Tax Commission shall apportion all revenues\n\nderived from the fee to the Drug Money Laundering and Wire\n\nTransmitter Revolving Fund.\n\nD. Every licensee and their delegates shall post a notice on a\n\nform prescribed by the Director of the Oklahoma State Bureau of\n\nNarcotics and Dangerous Drugs Control that notifies customers that\n\nupon filing an individual income tax return with either a valid\n\nsocial security number or a valid taxpayer identification number the\n\ncustomer shall be entitled to an income tax credit equal to the\n\namount of the fee paid by the customer for the transaction.\n\nE. The Oklahoma Tax Commission shall be afforded all provisions\n\ncurrently under law to enforce the provisions of subsection B of\n\nthis section. If a licensee fails to file reports or fails to remit\n\nthe fee authorized by subsection B of this section, the Oklahoma Tax\n\nCommission shall have the authority pursuant to Section 212 of Title\n\n68 of the Oklahoma Statutes to suspend the license of the licensee\n\nand its delegates. A notification of the suspension shall also be\n\nsent to the State Banking Commissioner and the Director of the\n\nOklahoma State Bureau of Narcotics and Dangerous Drugs Control. The\n\nlicensee and its delegates may not reapply for a license until all\n\nrequired reports have been filed and all required fee amounts have\n\nbeen remitted.\n\nF. Upon request from the Oklahoma Tax Commission, the State\n\nBanking Commissioner may make a claim against the surety bond of the\n\nlicensee on behalf of the State of Oklahoma.\n\nG. The Oklahoma State Bureau of Narcotics and Dangerous Drugs\n\nControl and its attorneys may assist the Oklahoma Tax Commission in\n\nconducting audits and the prosecution and/or seeking of legal\n\nremedies to ensure compliance with this act.","path":["OK Code","Title 63"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os63.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"7af79c7ce78b773f882b4c93cefc1302762ed1d27a70c3679c80418ada425694","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-63-63-2-503.1i","next":"us-ok/okla.-stat.-tit.-63-63-2-503.1k"},"notice":"GroundRules: Original legal text. Not legal advice."}