{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-3659","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-3659","heading":"Remitted withholding taxes - Transfer and apportionment","body":"A. Beginning on the later date of July 1, 2009, or the first\n\ndate upon which the revenues payable to the Authority from the\n\nQuality Jobs Program Incentive Leverage Fund are no longer committed\n\nto the payment of debt service requirements and related costs in\n\nconnection with obligations issued by the Authority pursuant to the\n\nQuality Jobs Incentive Leverage Act prior to the effective date of\n\nthis act, and for each fiscal year thereafter during which any\n\nobligations issued by the Oklahoma Development Finance Authority\n\nissued pursuant to Section 3654 of this title remain unpaid as a\n\nresult of a second irrevocable election, the Oklahoma Tax Commission\n\nshall identify an establishment that makes the second irrevocable\n\nelection authorized by Section 3658 of this title and shall compute\n\nthe amount of withholding taxes imposed pursuant to Section 2385.2\n\nof Title 68 of the Oklahoma Statutes attributable to employees of\n\nthat establishment whose wages are subject to the levy.\n\nB. Beginning on the later date of July 1, 2009, or the first\n\ndate upon which the revenues payable to the Authority from the\n\nQuality Jobs Program Incentive Leverage Fund are no longer committed\n\nto the payment of debt service requirements and related costs in\n\nconnection with obligations issued by the Authority pursuant to the\n\nQuality Jobs Incentive Leverage Act prior to the effective date of\n\nthis act, and for each fiscal year thereafter during which any\n\nobligations issued by the Oklahoma Development Finance Authority\n\nissued pursuant to Section 3654 of this title as a result of a\n\nsecond irrevocable election remain unpaid, the Oklahoma Tax\n\nCommission shall transfer to the Quality Jobs Program Incentive\n\nLeverage Fund an amount of withholding taxes remitted by an\n\nestablishment which has made the second irrevocable election equal\n\nto the amount required pursuant to subsection E of Section 3658 of\n\nthis title. With respect to the withholding taxes remitted by an\n\nestablishment that makes the second irrevocable election pursuant to\n\nSection 3658 of this title, the Tax Commission shall continue to\n\ntransfer such taxes to the Quality Jobs Program Incentive Leverage\n\nFund for any period of time after which the establishment files the\n\nsecond irrevocable election. If the Oklahoma Development Finance\n\nAuthority does not issue obligations as a result of the second\n\nirrevocable election, the establishment shall notify the Tax\n\nCommission and the Oklahoma Development Finance Authority that\n\nfurther transfers of withholding taxes remitted by the establishment\n\nto the Quality Jobs Program Incentive Leverage Fund are not\n\nrequired.\n\nC. Subject to the provisions of Section 11, Chapter 299, O.S.L.\n\n2002, if the amount of the withholding taxes remitted by the\n\nestablishment is less than the amount required pursuant to\n\nsubsection E of Section 3658 of this title, the proceeds from the\n\nguaranty required by subsection M of Section 3654 of this title\n\nshall be paid to the Quality Jobs Program Incentive Leverage Fund.\n\nD. After the amount of withholding taxes required to be\n\ntransmitted to the Quality Jobs Program Incentive Leverage Fund has\n\nbeen computed, the remaining withholding tax remitted by a qualified\n\nestablishment shall be apportioned in the manner prescribed by law.\n\nE. The amount of withholding taxes transferred to the Quality\n\nJobs Program Incentive Leverage Fund pursuant to this section shall\n\nbe deemed not to have accrued to the State Treasury for purposes of\n\ncertifications required by the State Board of Equalization pursuant\n\nto Section 23 of Article X of the Oklahoma Constitution and shall be\n\ndeemed to be monies held in trust for the benefit of the Oklahoma\n\nDevelopment Finance Authority in order to repay obligations issued\n\nby the Authority pursuant to Section 3654 of this title.\n\nF. The withholding taxes attributable to the wages of employees\nof\n\ncertifications required by the State Board of Equalization pursuant\n\nto Section 23 of Article X of the Oklahoma Constitution and shall be\n\ndeemed to be monies held in trust for the benefit of the Oklahoma\n\nDevelopment Finance Authority in order to repay obligations issued\n\nby the Authority pursuant to Section 3654 of this title.\n\nF. The withholding taxes attributable to the wages of employees\n\nof an establishment which has made the second irrevocable election\n\nprovided for by Section 3658 of this title shall be apportioned in\n\nthe manner prescribed by law as soon as all of the obligations of\n\nthe Oklahoma Development Finance Authority issued pursuant to\n\nSection 3654 of this title have been fully repaid and after such\n\ntime the provisions of this section shall cease to have the force\n\nand effect of law.","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":"af70da3e7a05cad61fb539810ac044f2a789df403690a453030ef7805b4cd3b8","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-3658","next":"us-ok/okla.-stat.-tit.-68-68-3660"},"notice":"GroundRules: Original legal text. Not legal advice."}