OK SB883

Changes language in tax collection contracts from "shall" to "are authorized to" for both county and municipal sales tax agreements with the Oklahoma Tax Commission, making contracts voluntary rather than mandatory.

Modifies Section 1371 regarding county sales tax collection to authorize (rather than require) the Tax Commission to enter into contracts with counties for assessing, collecting, and enforcing sales taxes at a 1% fee rate.

Modifies Section 2702 regarding municipal sales tax collection to authorize (rather than require) the Tax Commission to enter into contracts with municipalities at a retention fee rate of up to 1.75% of collected taxes.

Adds new provisions allowing municipalities to contract with private auditors or audit firms approved by the Oklahoma Tax Commission to conduct municipal sales tax enforcement audits, with audit-generated collections excluded from the Tax Commission's retention fee calculation.

Clarifies that municipal sales tax funds collected by vendors are held in trust and vendors have fiduciary duties to municipalities under state trust law.