Like most other states in the union, Oklahoma relies on sales taxes to fund government operations, especially the educational system. Today, sales taxes supply nearly one-third of the state's expenditures, meaning they're a vital cash lifeline for basic government services. This is why the Oklahoma Tax Commission does not look favorably on businesses that “forget” to pay their sales taxes, or fail to keep up with their quarterly payments by claiming that “times are tough” need to look to their own needs first. If every small, medium, and large business in the state behaved this way, Oklahoma would go bankrupt overnight!
If you have fallen behind in your sales tax payments, the OTC (once you show up on its radar) will pursue you relentlessly until the debt is paid. If you don't come to terms with this government bureaucracy, it can revoke your sales permit, effectively putting you out of business—and if you close your business, claiming poverty, the commission can prevent you from opening a new one until your debt is paid.
Whether you have failed to pay your Oklahoma sales taxes because of the recession, or because you'd just like to buy yourself a second car, you need to settle your bill sooner rather than later, lest the repercussions pursue you for the rest of your life. A good first step would be to contact the Oklahoma sales tax experts at Travis W. Watkins, PC; we can negotiate with the OTC on your behalf and secure the best possible outcome to your tax problem. Intrigued? Call us today at 800-721-7054 to find out what we can do for you!