{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-1368","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-1368","heading":"Bond or security","body":"Bond or Security.\n\n(A) The Tax Commission may require every person who holds a\n\nsales tax permit pursuant to the provisions of the Oklahoma Sales\n\nTax Code and is delinquent or becomes delinquent in the reporting or\n\npaying any taxes levied under this article or penalties or interest\n\nthereon to furnish to the Commission a cash bond, bond from a surety\n\ncompany chartered or authorized to do business in this state,\n\ncertificates of deposits, certificates of savings or U.S. Treasury\n\nbonds, an assignment of negotiable stocks or bonds or such other\n\nsecurity as the Commission may deem necessary to secure payment of\n\ntaxes under this article. Any surety bond furnished under this\n\nsection shall be a continuing instrument and shall constitute a new\n\nand separate obligation in the sum stated therein for each calendar\n\nyear or a portion thereof while such bond is in force. Such bond\n\nshall remain in effect until the surety or sureties are released and\n\ndischarged by the Tax Commission. The Tax Commission shall fix the\n\namount of such bond or other security required in each case after\n\nconsidering the tax liability expected to accrue, not to exceed\n\nthree times the amount of the average quarterly tax liability.\n\nProvided, any taxpayer who reports and remits taxes hereunder on a\n\nsemiannual basis and is or becomes delinquent in reporting or paying\n\nmay be required to provide a bond or other security in an amount not\n\nto exceed three times the amount of the average semiannual tax\n\nliability. Any bond or other security furnished shall be such as\n\nwill protect this state against failure of the taxpayer to pay the\n\ntax levied by this article.\n\n(B) If any vendor fails or refuses to furnish a bond or other\n\nsecurity as required by the Tax Commission within ten (10) days\n\nafter mailing of notice thereof to said vendor, any authorized agent\n\nof the Tax Commission may remove the permit issued under this\n\narticle from the taxpayer's premises and cause the same to be\n\nrevoked. The forfeiture or cancellation of such bond or security,\n\nfor any reason whatsoever, shall automatically revoke the permit\n\nissued pursuant to the provisions of the Oklahoma Sales Tax Code.\n\n(C) All persons doing business in this state, classified as\n\nGroup Three vendors under this article, shall make a sufficient cash\n\ndeposit or sufficient bond with the Tax Commission as the Tax\n\nCommission may deem necessary to secure payment of the semiannual\n\ntax liability before doing business in this state or before\n\nreceiving a permit to do business in this state as provided in this\n\narticle.","path":["OK Code","Title 68"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os68.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"b835af6473f41ac2c3d5a6312202228a84b56a24ac3164256b0f39a5f77fbef8","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-1366","next":"us-ok/okla.-stat.-tit.-68-68-1368.3"},"notice":"GroundRules: Original legal text. Not legal advice."}