Bill > SB474

This bill introduces a new requirement for businesses in Oklahoma to obtain a sale for resale exemption permit from the Oklahoma Tax Commission in order to claim sales tax exemption on purchases made for resale. The permit will be free and can cover multiple business locations, and the Tax Commission may provide electronic or other methods for permit access. Vendors must honor valid sale for resale permits, and sales to businesses with such permits will be exempt from sales tax. The bill specifically prohibits certain vendor groups from claiming sale for resale exemption without a permit, and violations will be considered a misdemeanor punishable by a fine up to $1,000. Sale for resale permits will expire annually on June 30th, and the Tax Commission is authorized to develop an electronic verification system to help sellers confirm the validity of permit numbers. If sellers use this verification system, there will be a presumption that the sale was a valid resale transaction. The bill is set to take effect on June 1, 2026, giving businesses and the Tax Commission time to prepare for the new permit requirements.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb474&Session=2500