Funds
Oklahoma Tax Commission

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The following funds are available in a definition format on this page:

Occupational Health and Safety Fund

Underground Storage Leakage Fund

Workman's Compensation Fund

Occupational Health and Safety Fund
This levy is 3/4 of one percent of each disability award excluding medical and temporary total disability compensation. Every insurance carrier including self-insured and "no insurance" employers is subject to this tax.

Underground Storage Leakage Fund
The Corporation Commission assesses a one cent fee upon all gasoline or diesel fuel for the Petroleum Storage Tank Release Environmental Clean Up Indemnity Fund. This special assessment is a fee on gasoline and diesel which is used to fund the removal and/or replacement of leaking underground storage tanks.

Workman's Compensation Fund
For the purpose of providing funds for the workers’ compensation administration fund, each mutual or interinsurance association, stock company, the State Insurance Fund or other insurance carrier writing workers’ compensation insurance in this state is taxed at a rate of one percent of all gross direct premiums written during each quarter of the calendar year for workers’ compensation insurance on risks located in this state after deducting from the gross direct premiums, return premiums, unabsorbed portions of any deposit premiums, policy dividends, safety refunds, savings and other similar returns paid or credited to policyholders.

When an employer is authorized to become a self-insurer, the Oklahoma Tax Commission then assesses and collects from the employers carrying their own risk, a tax at the rate of two percent of the total compensation for permanent total disability awards, permanent partial disability and death benefits paid out during each quarter of the calendar year by the employers.

The Oklahoma Tax Commission's World Wide Web site is developed, designed and maintained by the Communications Division of the OTC.
If you have any questions and/or comments, please direct them to:
otcmaster@oktax.state.ok.us
Web Page last modified 01/07/2005 3:00 p.m.