OK SB834

Vendors must collect and remit sales tax on all transactions except those specifically exempted under Sections 1355, 1356, paragraph 34 of Section 1357, 1357.6, and 1357.10 of Title 68.

Vendors who accept properly completed exemption documentation certified by the Oklahoma Tax Commission are relieved of liability for sales tax collection on exempt transactions.

Establishes a sales tax refund process for qualified purchasers who paid tax on exempt transactions, with refunds made no later than September 30 following the fiscal year of the exempt transaction.

Oklahoma Tax Commission must develop rules by December 31, 2011 for eligible consumers to claim refunds for taxes actually paid on exempt purchases.

Penalties established for vendors who willfully refuse to honor valid exemptions: $500 administrative fine for first offense, and misdemeanor charges for repeat violations.