SB614 Summary

• Amends 11 O.S. Section 14-111 to authorize municipalities to impose criminal sanctions on vendors who willfully fail to collect or remit sales or use taxes owed under municipal ordinances.

• Establishes maximum criminal fines of $1,250 plus costs for vendors who fail to comply with municipal sales and use tax ordinances or who appropriate collected taxes for unauthorized purposes.

• Requires vendors to remit all applicable taxes and penalties directly to the Oklahoma Tax Commission if the municipality participates in the Streamlined Sales and Use Tax Agreement.

• Allows municipalities to enact ordinances prescribing penalties and interest on unpaid sales and use tax amounts collected by vendors.

• Effective date: November 1, 2011.