OK HB2939

Amends Oklahoma sales tax law to add a new exemption (paragraph 43) for core charges on automobile parts, where the core charge is only exempt if the customer trades in the old part for the new one.

If the customer does not trade in the old part, the sales tax is due on the full core charge amount.

The exemption applies specifically to "that portion of the gross receipts or gross proceeds derived from the sale of automobile parts which constitutes core charges which are received for the purpose of securing a trade-in for the article purchased."

Effective date is July 1, 2014, with an emergency clause declaring the law effective immediately upon passage and approval.