Bill > HB3548

This bill, titled the "Oklahoma Youth Entrepreneurs Promotion and Development Act of 2026," introduces several provisions aimed at supporting young entrepreneurs. Primarily, it exempts sales of tangible personal property and services made by businesses owned and operated by individuals under 18 years old, provided these businesses are sole proprietorships with limited adult assistance, generate less than $1,000 in gross revenue annually, and operate on private property or at registered community events, ensuring no adult exercises primary control or benefits materially from the business. Additionally, the bill exempts $1,000 of income derived from lawful business activities conducted by individuals under 18 as sole proprietors from Oklahoma adjusted gross income, with similar conditions regarding adult involvement and revenue limits. It also removes the business license requirement for individuals under 18 operating as sole proprietors for up to 90 days per year, unless their work is regulated by specific state laws requiring licenses. Finally, the bill establishes an effective date of November 1, 2026.