Bill > SB1110

This bill modifies the renewal period for agricultural sales tax exemption permits in Oklahoma. Currently, farmers and ranchers must renew their agricultural exemption permits every three years, but the bill changes this to a five-year renewal cycle for permits issued or renewed on or after the effective date (November 1, 2025). The agricultural exemption permit allows farmers, ranchers, and custom farming operators to purchase goods and equipment without paying sales tax, provided they meet certain eligibility requirements. To obtain the permit, individuals must list their personal property used in farming or ranching with the county assessor, who then verifies their tax status and provides certification to the Oklahoma Tax Commission. The bill also clarifies acceptable documentation for proving agricultural eligibility, which can include IRS tax forms like Schedule F, a business description form, Farm Service Agency forms, or other documents that verify active agricultural production. The goal of this bill appears to be reducing administrative burden for farmers by extending the time between permit renewals, while maintaining the existing process for verifying agricultural exemption eligibility.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1110&Session=2600