Bill > HB1202

This bill introduces a new provision for sales and use tax vendors in Oklahoma, allowing them to retain a small percentage of collected taxes as compensation for administrative work. Specifically, vendors can deduct 1% of the sales tax they collect, with a maximum monthly cap of $2,500 per sales tax permit. If a vendor's 1% deduction exceeds $2,500, the excess amount will be retained by the state and deposited into the General Revenue Fund. The deduction is only available for timely filed and paid tax reports, and vendors cannot manipulate their sales tax permit status to circumvent the $2,500 limit. For use taxes, vendors will be allowed a deduction equivalent to what is permitted under the Oklahoma Sales Tax Code. The bill is set to become effective on July 1, 2025, and includes an emergency clause, which means it can take effect immediately upon passage and approval. This legislation aims to provide a modest incentive for vendors who diligently collect and remit sales and use taxes while also ensuring that the state recovers administrative costs.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1202&Session=2600