[DOWNLOAD] "City of Oklahoma City v. Oklahoma Tax Comn" by South Carolina Supreme Court " Book PDF Kindle ePub Free
eBook details
- Title: City of Oklahoma City v. Oklahoma Tax Comn
- Author : South Carolina Supreme Court
- Release Date : January 27, 1990
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 84 KB
Description
1 The issues presented are: 1) whether a municipality which contracts with the Oklahoma Tax Commission for the collection of municipal taxes under the authority of 68 O.S.Supp. 1986 ? 2702 is entitled to interest earned by taxes deposited in the State Treasury; and 2) if the municipality is entitled to investment interest, whether it may recover interest deposited to the states general revenue fund. We find that: 1) the interest earned on municipal sales tax revenues is an accretion or increment to the principal tax. Pursuant to the Okla. Const. art. 10, ? 19 , the total i.e., principal and interest, must be expended for the purpose levied; and 2) because the fund representing interest earned on the investment of the municipal sales taxes has been appropriated, it is not recoverable.
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