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<blockquote data-quote="Babagounj" data-source="post: 5759089" data-attributes="member: 12952">Now is the time for talk about &quot;Remittances&quot;.In 2019, for instance, it was <a href="https://www.fairus.org/issue/publications-resources/united-states-loses-150-billion-annually-remittances" target="_blank">estimated</a> that the United States lost $150 billion a year from the economy as foreigners sent that money back to their home countries.That is money stripped out of our economy, never to be seen again.Oklahoma taxes remittances. If migrants don&#039;t file tax returns then they don&#039;t see this tax refund.TAX CREDIT NOTICE TO OKLAHOMA TAXPAYERS&nbsp;This fee is $5.00 for the first $500.00 and 1% thereafter. If you file an Oklahoma Tax Return, you may be eligible for a tax credit equal to the amount of the fee remitted. To qualify for the tax credit you must maintain your receipt with the transaction number for the purpose of filing your Oklahoma income tax return.In 2016, pursuant to the Annual Report of the Oklahoma Tax Commission (Fiscal Year Ended June 30, 2016), the Wire Transmitter Fee collected was US $12,696,879.25 .Now if only other states also taxed remittances, they could afford the costs associated with housing all these new migrants.Bush loosen restrictions on remittances, Trump tighten them, only to see Biden reverse them.</blockquote>

[QUOTE="Babagounj, post: 5759089, member: 12952"] Now is the time for talk about "Remittances". In 2019, for instance, it was [URL='https://www.fairus.org/issue/publications-resources/united-states-loses-150-billion-annually-remittances']estimated[/URL] that the United States lost $150 billion a year from the economy as foreigners sent that money back to their home countries. That is money stripped out of our economy, never to be seen again. Oklahoma taxes remittances. If migrants don't file tax returns then they don't see this tax refund. TAX CREDIT NOTICE TO OKLAHOMA TAXPAYERS This fee is $5.00 for the first $500.00 and 1% thereafter. If you file an Oklahoma Tax Return, you may be eligible for a tax credit equal to the amount of the fee remitted. To qualify for the tax credit you must maintain your receipt with the transaction number for the purpose of filing your Oklahoma income tax return. In 2016, pursuant to the Annual Report of the Oklahoma Tax Commission (Fiscal Year Ended June 30, 2016), the Wire Transmitter Fee collected was US $12,696,879.25 . Now if only other states also taxed remittances, they could afford the costs associated with housing all these new migrants. Bush loosen restrictions on remittances, Trump tighten them, only to see Biden reverse them. [/QUOTE]

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