SB750 Summary

• Amends Oklahoma sales tax collection law to allow municipalities to contract with the Oklahoma Tax Commission for assessment, collection, and enforcement of municipal taxes, with the Tax Commission retaining up to 1.75% as a collection fee.

• Authorizes municipalities to implement their own tax enforcement and audits either directly or through private auditors approved by the Tax Commission, with audit costs paid from resulting tax assessments.

• Establishes a new "Tax Commission Compliance Fund" consisting of 0.75% of enhanced state sales tax collections from compliance agreements to reimburse municipalities for enhanced collections.

• Requires the Director of the Office of State Finance to form an Implementation Working Group with municipal and Tax Commission representatives to adopt an implementation plan by September 30, 2011, ensuring centralized administration and enforcement.

• Becomes effective September 1, 2011.