Oklahoma Statutes (Last Updated: September 18, 2014)

§ 68-1216. Purpose - Apportionment of monies.

Latest version.

A. It is hereby declared to be the purpose of the Oklahoma Business Activity Tax Code to establish a revenue-neutral mechanism to provide a more fair and simplified taxation of businesses and individuals in this state while maintaining revenue levels for support of general governmental functions of the State of Oklahoma.
B. All monies collected pursuant to the provisions of subsection A of Section 5 of this act shall be apportioned and distributed monthly in the same manner as provided in paragraph 1 of Section 2352 of Title 68 of the Oklahoma Statutes.
C. All monies collected pursuant to the provisions of subsections B and C of Section 5 of this act shall be transmitted monthly to the State Treasurer of the State of Oklahoma to be placed to the credit of the General Revenue Fund of the state, to be paid out only pursuant to direct appropriations of the Legislature.

Added by Laws 2010, S.J.R. No. 61, § 3.

                    
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