HB 1625 Summary

• Adds a new sales tax exemption for automobile parts core charges, which are fees charged when a customer does not trade in their old part when purchasing a replacement

• The exemption applies only to the portion of the gross receipts that constitutes the core charge; if the article is not traded in, sales tax is due on the core charge amount

• Amends Section 1357 of Title 68 (Oklahoma Sales Tax Code) to include this new exemption as item 43 in the list of specific exemptions

• Effective date is July 1, 2013, with emergency clause declaring the act effective immediately upon passage and approval