{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-2357.401","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-2357.401","heading":"Electronic fund transfer tax credit","body":"\n\nA. Except as otherwise provided by subsections B and C of this\n\nsection, for taxable years beginning January 1, 2009, and ending\n\nbefore January 1, 2017, there shall be allowed a credit against the\n\ntax imposed pursuant to Section 2355 of this title in the amount of\n\nall electronic funds transfers fees paid by an individual or entity\n\npursuant to Section 2-503.1j of Title 63 of the Oklahoma Statutes.\n\nB. For any fees paid by a person or entity for the taxable year\n\nbeginning January 1, 2009, the credit otherwise authorized by this\n\nsection shall not be claimed for an individual prior to January 1,\n\n2011. Subject to the requirements of this subsection, an individual\n\ntaxpayer shall be able to claim the credit authorized by this\n\nsection for all fees paid during the tax year ending December 31,\n\n2009, and the tax year ending December 31, 2010, on the income tax\n\nreturn filed for the tax year ending December 31, 2010.\n\nC. For any fees paid by an entity other than a natural person\n\nfor the taxable year beginning January 1, 2009, the credit otherwise\n\nauthorized by this section shall not be claimed on an income tax\n\nreturn prior to January 1, 2011. Subject to the requirements of\n\nthis subsection, an entity other than a natural person shall be able\n\nto claim the credit authorized by this section for all fees paid\n\nduring a tax year ending at any time during calendar year 2009 and\n\nfor all fees paid during calendar year 2010 on the income tax return\n\nfiled for the tax year ending not later than December 31, 2010.\n\nD. The credit authorized by this section shall not be used to\n\nreduce the income tax liability of the taxpayer to less than zero\n\n(0).\n\nE. To the extent not used in any taxable year, the credit\n\nauthorized by this section may be carried over, in order, to each of\n\nthe five (5) succeeding taxable years.","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":"9edb7615ee696656d8791752f23e9032ccc7f4052b9e967c283c1d9ab09f2aeb","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-2357.4","next":"us-ok/okla.-stat.-tit.-68-68-2357.403"},"notice":"GroundRules: Original legal text. Not legal advice."}