The Oklahoma Tax Commission (OTC) is responsible for collecting taxes and enforcing tax laws in Oklahoma. The Commission has three members appointed by the Governor and confirmed by the Senate. An Executive Director serves as the chief officer overseeing general practices. The Tax Commission was created in 1931 during Governor William H. Murray’s term.
The Oklahoma Tax Commission (OTC) can force closure if you fail to pay required sales taxes. Allegations of failure to pay sales tax in Oklahoma should be taken seriously. As a business owner, you may collect sales tax from customers and pay the state. If you do not pay, the OTC will come after you for money owed. The OTC has authority to take your sales tax permit, causing loss of business. Whether allegations seem true or not, the OTC will aggressively pursue failure to pay state sales tax. Your role resembles a trustee of state revenues. Expect Oklahoma, through the OTC, to seek money owed if you do not pay collected taxes to the state.
Does an LLC have to file an Oklahoma franchise tax return?