OK SB812

Tax Commission may grant reasonable extensions for filing state tax returns upon written request and good cause, with records maintained for each extension granted.

Extensions for non-corporate returns may not exceed one-half the filing period under applicable state tax law and may not extend the payment due date.

Corporation income and franchise tax returns may receive extensions up to 7 months, with the corporate income tax extension automatically covering franchise tax returns if filed simultaneously.

No extension may extend the date when state tax payments are due, regardless of filing deadline extensions granted.

Taxpayers with extensions may file tentative returns showing estimated tax liability on the original due date and pay estimated tax without incurring interest or penalties.

Effective date: January 1, 2016.