HB2507 Summary

• Amends Oklahoma tax law regarding assessment and collection of unpaid sales taxes, withheld income taxes, and motor fuel taxes from responsible individuals within corporations and limited liability companies

• Expands personal liability standards to include any individual with direct control, supervision, or responsibility for filing returns and making tax payments, rather than limiting liability to specific officer/manager positions

• Modifies penalty provisions by extending the time period to remit unpaid taxes with interest from 30 to 60 days before penalties are assessed for income taxes and certain other tax types

• Changes the deadline for demanding a hearing on denied refund claims from 30 days to 60 days after denial notice is mailed

• Establishes effective date of November 1, 2014