State Requirements
STATE REQUIREMENTS FOR REFUND ASSISTANCE LOAN PRODUCTS
Tax refund loan assistance programs are a great way for tax preparers to grow their business. Before offering these products, be sure you review the requirements for your state regarding registration, disclosures, and other regulations. The following states currently have regulations for tax preparers who offer these types of loans
Arkansas
Arkansas Code Title 4 Subtitle 7 Chapter 116 Refund Anticipation Loan Act
California
California Business and Professions Code Section 22253.1
Colorado
Colorado Revised Statute Title 5 Consumer Credit Code – Disclosures Required
Connecticut
Chapter 743ee Refund Anticipation Loans Special Notice 2017(8) Special Notice 2018(8)
Illinois
Tax Refund Anticipation Loan Act
Louisiana
Maine
Maryland
HB1206: Commercial Law - Consumer Protection - Refund Anticipation Loans and Checks
Michigan
Minnesota
Nevada
Chapter 604B – Refund Anticipation Loans
New Jersey
New Jersey Statute Title 17 Section 17:11 D-3 Refund Anticipation Loans
New York
Publication 58 (pages 13-15) New York Bill of Rights Concerning Tax Preparers New York State tax preparer registration
North Carolina
Refund Anticipation Loan Act Refund Anticipation Loan Facilitators Overview
Oregon
2017 ORS 673.625 017 ORS 673.712 2017 ORS 637.15
Tennessee
Tennessee Code Title 62 Chapter 29 Part 2 Refund Anticipation Loans
Texas
Texas OCCC – Refund Anticipation Loan
Virginia
Advertising; posting RAL fee schedule; and disclosures
Washington
Washington State DFI – Tax Refund Anticipation Loan
Wisconsin
Wisconsin Statute 422.310 Refund Anticipation Loans Refund Anticipation Loan