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OK SB548
Bill
Status
2/7/2011
Primary Sponsor
Anthony Sykes
Click for details
AI Summary
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Adds exemption from state, county, and municipal sales tax for school supplies, school art supplies, and school instructional materials with purchase price under $100
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Exemption applies only during annual three-day tax-free period beginning first Friday in August through following Sunday, consistent with existing clothing and footwear exemption
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Excludes computers and school computer supplies from exemption and establishes definitions for school supplies, art supplies, and instructional materials
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Requires Oklahoma Tax Commission rules on school supply exemptions to comply with Streamlined Sales and Use Tax Agreement
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Effective date: November 1, 2011
Legislative Description
Sales tax exemption; modifying certain sales tax exemption to include certain school supplies; providing for application to various sales tax levies; modifying definition; requiring certain rule to be in compliance with specified agreement. Effective date.
Revenue and Taxation
Last Action
Second Reading referred to Finance
2/8/2011