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The Oklahoma Tax Commission (OTC) is the Oklahoma state government agency that collects taxes and enforces the taxation and revenue laws of the state. The Commission is composed of three members appointed by the Governor of Oklahoma and confirmed by the Oklahoma Senate. The Commissioners are charged with oversight of the agency but appoint an ...
While in many ways similar to other forms of bankruptcy reorganization (esp. Chapter 11), [15] Chapter 9 has a number of unique characteristics. Because municipalities are entities of State governments, the power of the bankruptcy court is limited to some extent by the Tenth Amendment to the United States Constitution. [16]
The last instance of such a default took place during the Great Depression, in 1933, when the state of Arkansas defaulted on its highway bonds, which had long-lasting consequences for the state. [1] Current U.S. bankruptcy law, an area governed by federal law, does not allow a state to file for bankruptcy under the Bankruptcy Code. [2]
The courts hear civil and criminal cases, and each is paired with a bankruptcy court. [2] Appeals from the district courts are made to one of the 13 courts of appeals , organized geographically. The number of district courts in a court of appeals' circuit varies between one and thirteen, depending on the number of states in the region and the ...
Here's what Oklahoma should be aware of. What is Chapter 11 bankruptcy? According to USCourts.gov, Chapter 11 bankruptcy "is frequently referred to as a 'reorganization' bankruptcy. Usually, the ...
Tax returns for federal and Oklahoma state income taxes are due April 15. To file for an extension, taxpayers can fill out Form 4868 by April 15, giving you six more months to complete your tax ...
The bankruptcy was caused by a tax debt of nearly $5,200,000 related to his handling of a client's stock shares, which also led to his disbarment in 2001. [317] [316] Dean Windass: English footballer IA 1986 [318] 2016 [318] [319] He was made bankrupt by the HMRC, to which he owed £150,000. [318] [319] Boris Becker: German tennis player IA ...
In February 2009, Rocketplane vacated its Oklahoma City headquarters building. According to Oklahoma State Representative David Dank, Rocketplane no longer has any presence in the state, but they left with no debt owing to Oklahoma. Rocketplane filed for Chapter 7 bankruptcy and liquidation in July 2010. [4]