Oklahoma 2023 Regular Session

Oklahoma Senate Bill SB591 Compare Versions

Only one version of the bill is available at this time.

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53	53	STATE OF OKLAHOMA
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55	55	1st Session of the 59th Legislature (2023)
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57	57	SENATE BILL 591 By: Montgomery
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63	63	AS INTRODUCED
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65	65	An Act relating to sales and use tax; aut horizing
66	66	specified deduction from sales t ax due for seller or
67	67	vendor; prohibiting deduction under specified
68	68	circumstances and providing exception thereto;
69	69	limiting dollar amount of deduction; authorizing
70	70	specified deduction from use tax due for seller or
71	71	vendor; providing for codification; and pr oviding an
72	72	effective date.
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77	77	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
78	78	SECTION 1. NEW LAW A new section of law to be codified
79	79	in the Oklahoma Statutes as Section 1367.2 of Title 68, unless there
80	80	is created a duplication in numbering, reads as follows:
81	81	A. For the purpose of compensating the seller or vendor in
82	82	keeping sales tax records, filing reports, and remitting the tax
83	83	when due, a seller or vendor shall be allowed a deduction of two
84	84	percent (2%) of the tax due under the applicable provisions of Title
85	85	68 of the Oklahoma Statutes; provided, such deduction shall not be
86	86	allowed with respect to a direct payment permit.
87	87	B. No deductions from tax shall be allowed if the filing of a
88	88	report or payment of tax is deli nquent; provided, the deduction
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140	140	shall be allowed if the Oklahoma Tax Commission determines that the
141	141	delinquency was due to a natural disa ster for which a Presidential
142	142	Major Disaster Declaration was issued.
143	143	C. Notwithstanding the formula provided by subsec tion A of this
144	144	section, the deduction provid ed by this section shall be limited to
145	145	a maximum of Three Thousand Three Hundred Dollars ($3, 300.00) per
146	146	month per sales tax permit. A sales tax permit holder shall not
147	147	change sales tax permit status in order to avoid the provisions of
148	148	this subsection.
149	149	SECTION 2. NEW LAW A new section of law to be codified
150	150	in the Oklahoma Statutes as Section 1410.2 of Title 68, unless there
151	151	is created a duplication in numb ering, reads as follows:
152	152	For the purpose of compensating the seller or vendor in keep ing
153	153	use tax records, filing reports , and remitting the tax when due, a
154	154	seller or vendor shall be allowed a deduction e qual to the formula
155	155	provided in Section 1 of this act.
156	156	SECTION 3. This act shall become effective November 1, 2023.
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158	158	59-1-1424 QD 1/17/2023 6:26:46 PM