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STATE OF OKLAHOMA
1st Session of the 59th Legislature (2023)
SENATE BILL 591 By: Montgomery
AS INTRODUCED
An Act relating to sales and use tax; aut horizing
specified deduction from sales t ax due for seller or
vendor; prohibiting deduction under specified
circumstances and providing exception thereto;
limiting dollar amount of deduction; authorizing
specified deduction from use tax due for seller or
vendor; providing for codification; and pr oviding an
effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 1367.2 of Title 68, unless there
is created a duplication in numbering, reads as follows:
A. For the purpose of compensating the seller or vendor in
keeping sales tax records, filing reports, and remitting the tax
when due, a seller or vendor shall be allowed a deduction of two
percent (2%) of the tax due under the applicable provisions of Title
68 of the Oklahoma Statutes; provided, such deduction shall not be
allowed with respect to a direct payment permit.
B. No deductions from tax shall be allowed if the filing of a
report or payment of tax is deli nquent; provided, the deduction
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shall be allowed if the Oklahoma Tax Commission determines that the
delinquency was due to a natural disa ster for which a Presidential
Major Disaster Declaration was issued.
C. Notwithstanding the formula provided by subsec tion A of this
section, the deduction provid ed by this section shall be limited to
a maximum of Three Thousand Three Hundred Dollars ($3, 300.00) per
month per sales tax permit. A sales tax permit holder shall not
change sales tax permit status in order to avoid the provisions of
this subsection.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 1410.2 of Title 68, unless there
is created a duplication in numb ering, reads as follows:
For the purpose of compensating the seller or vendor in keep ing
use tax records, filing reports , and remitting the tax when due, a
seller or vendor shall be allowed a deduction e qual to the formula
provided in Section 1 of this act.
SECTION 3. This act shall become effective November 1, 2023.
59-1-1424 QD 1/17/2023 6:26:46 PM