OK SB1170

Amends 68 O.S. 2011, Section 2357.401 to limit the electronic fund transfer tax credit to taxable years beginning January 1, 2009 and ending before January 1, 2017.

Allows individuals to claim the credit for fees paid during tax years 2009 and 2010 on the income tax return filed for the tax year ending December 31, 2010.

Allows entities other than natural persons to claim the credit for fees paid during calendar year 2009 and 2010 on the income tax return filed no later than December 31, 2010.

Prohibits the credit from reducing income tax liability below zero and allows unused credits to be carried over for up to five succeeding taxable years.

Effective date is November 1, 2014.