Bill > SB580

This bill modifies the registered agent fee collection process in Oklahoma by transferring the responsibility from the Oklahoma Tax Commission to the Secretary of State. Specifically, the bill changes Section 1142 of Title 18 to update the registered agent fee collection procedures. The annual registered agent fee remains $100, payable on July 1st each year, and if not paid by September 1st, the Secretary of State (instead of the Tax Commission) will suspend and forfeit the corporation's charter. The bill also removes language about collecting the fee in conjunction with franchise tax audits and instead directs that all collected fees be deposited into the General Revenue Fund. Additionally, the bill specifies that if a registered agent does not pay the fee, the Secretary of State will follow the suspension procedures outlined in Section 1212 of Title 68 of the Oklahoma Statutes. The changes aim to streamline the fee collection process by consolidating the responsibility under the Secretary of State's office. The bill will become effective on November 1, 2025.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb580&Session=2600