Bill > HB4318

This bill allows sellers and vendors, who are businesses that sell goods or services, to deduct a small percentage of the sales tax they collect and remit to the state, specifically one percent (1%), as compensation for the administrative work involved in keeping records and filing reports, but this deduction is not permitted for those using a direct payment permit, which is a special authorization allowing certain businesses to pay use tax directly to the state rather than through a vendor. The bill also states that this deduction will not be allowed if tax reports or payments are filed late, unless the Oklahoma Tax Commission, the state agency responsible for tax collection, determines the delay was caused by a natural disaster declared by the President, and further limits this monthly deduction to a maximum of $1,000 per sales tax account. Additionally, the bill extends a similar deduction for the administrative costs of collecting and remitting use tax, which is a tax on goods purchased out-of-state for use within the state, to be equal to the amount provided for under the sales tax code, and all these changes are set to take effect on November 1, 2026.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb4318&Session=2600