Oklahoma 2023 Regular Session

Oklahoma Senate Bill SB752 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	SENATE FLOOR VERSION - SB752 SFLR Page 1
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29		-	SENATE FLOOR VERSION
30		-	March 1, 2023
	53	+	STATE OF OKLAHOMA
31	54
	55	+	1st Session of the 59th Legislature (2023)
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33		-	SENATE BILL ~~NO.~~ 752 By: Murdock
	57	+	SENATE BILL 752 By: Murdock
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39		-	[ sales tax exemption - property - codification -
40		-	effective date ]
	63	+	AS INTRODUCED
	64	+
	65	+	An Act relating to sales tax exemption; prov iding
	66	+	exemption for the occasional sale o f certain
	67	+	property; defining terms; providing for c odification;
	68	+	and providing an effective date .
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45	73		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
46	74		SECTION 1. NEW LAW A new sectio n of law to be codified
47	75		in the Oklahoma Statutes as Section 1357.11 of Title 68, unless
48	76		there is created a duplication in numb ering, reads as follows:
49	77		A. The occasional sale of tangible personal propert y is hereby
50	78		exempt from the tax levied by Section 135 0 et seq. of Title 68 of
51	79		the Oklahoma Statutes.
52	80		B. As used in this section:
53	81		1. “Nonrecurring sale” means no more than two sales or series
54	82		of sales of tangible personal property subject to the tax levied by
55	83		Section 1350 et seq. of Title 68 of the Oklahoma Statutes during a
56	84		twelve-month period. Provided, the sale of all or substantially all
57	85		of the property of a business or of a separate division, branch, or
58	86		identifiable segment of a business shall not be limited to no more
59		-	than two sales or series of sales during a twelve-month period to be
60		-	considered a nonrecurring sale ;
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62		-	SENATE FLOOR VERSION - SB752 SFLR Page 2
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	138	+	than two sales or series of sales during a twelve-month period to be
	139	+	considered a nonrecurring sale ;
88	140		2. “Occasional sale” means a nonrecurring sale and:
89	141		a. shall include:
90	142		(1) sales by an individual who, at the time of the
91	143		sale, is not engaged in the business of selling
92	144		tangible personal property,
93	145		(2) the sale of all or subst antially all of the
94	146		property of a business or of a separate division,
95	147		branch, or identifiable segment of a business. A
96	148		separate division, branch, or identifiable
97	149		segment of a business shall exist if before the
98	150		sale of property the income and expenses
99	151		attributable to the separate division, branch, or
100	152		identifiable segment could be ascertained from a
101	153		record utilizing generally accepted accounting
102	154		principles or another comprehensive basis of
103	155		accounting, and
104	156		(3) sales by an individual if the property was
105	157		originally purchased by the individual or a
106	158		member of the individual’s family for the
107	159		personal use of the indi vidual or individual’s
108	160		family, and if:
109		-	(a) the individual does not possess a sales tax
110		-	permit issued pursuant to Section 1364 of
111		-	Title 68 of the Oklahoma Statutes, and
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113		-	SENATE FLOOR VERSION - SB752 SFLR Page 3
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	212	+	(a) the individual does not possess a sales tax
	213	+	permit issued pursuant to Section 1364 of
	214	+	Title 68 of the Oklahoma Statutes, and
139	215		(b) the individual is not a “marketplace seller”
140	216		as defined in Section 1 391 of Title 68 of
141	217		the Oklahoma Statutes, and
142	218		b. shall not include:
143	219		(1) any sale that is made, supervis ed, or aided by an
144	220		auctioneer, or agent or employee of an
145	221		auctioneer,
146	222		(2) sellers of tangible personal property held on
147	223		consignment,
148	224		(3) the rental or lease of tangible personal
149	225		property, and
150	226		(4) the sale of motor vehicles; and
151	227		3. “Series of sales” means any multiple sales of tangi ble
152	228		personal property, for a limi ted duration not to exceed thirty (30)
153	229		consecutive days. Each individual sale of the multiple sales shall
154	230		meet the definition of occasional sale as provided in this
155	231		subsection.
156	232		SECTION 2. This act shall be come effective November 1, 2023.
157		-	~~COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS~~
158		-	~~March~~ 1, 2023 ~~- DO PASS~~
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	234	+	59-1-1194 QD 1/18/2023 5:16:37 PM