Bill > HB2730

This bill changes how interest is calculated on state tax liabilities in Oklahoma by replacing the previous fixed monthly interest rate with a new annual rate. This new rate will be determined by taking the "Wall Street Prime" rate, which is a benchmark interest rate published by major financial institutions, as of January 1st of each year, and adding three percentage points to it. This updated interest calculation method will apply to any unpaid taxes that become delinquent on or after the bill's effective date, which is November 1, 2026, and will also apply to any existing delinquent tax accounts at that time. Additionally, the bill modifies the interest rate for underpayments of estimated taxes to also use this new variable annual rate.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2730&Session=2600