On May 3, 2021, Governor Kevin Stitt signed HB 1060, which amends the Oklahoma Sales Tax Code. Oklahoma levies a state sales tax of 4.5% on the gross proceeds received from all sales of tangible personal property unless...more
As businesses look to reopen and recover from the COVID-19 pandemic, they should be attentive to Oklahoma tax incentives previously awarded to them to ensure all requirements are met to continue to avail themselves of these...more
5/1/2020
/ Coronavirus/COVID-19 ,
Income Taxes ,
Investment Tax Credits ,
Property Tax ,
Sales Tax ,
State Taxes ,
Tax Deductions ,
Tax Exemptions ,
Tax Incentives ,
Tax Liability ,
Tax Refunds ,
Tax Returns
Oklahoma statutes provide that the sales tax is to be paid by the consumer to the seller. The seller is specifically prohibited from absorbing or paying the tax on behalf of the consumer and is required to collect the sales...more
Effective November 1, 2019, remote sellers no longer have the option to collect and remit Oklahoma tax or report sales information to the Oklahoma Tax Commission. However, SB 513, enacted in May of 2019, raises the annual...more