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OK SB1286

Bill

Official Source

Status

Introduced

2/3/2014

Primary Sponsor

Jerry Ellis

Click for details

Origin

Senate

2014 Regular Session

AI Summary

  • Amends 68 O.S. Section 1357 to add a new exemption (paragraph 43) from Oklahoma sales tax for core charges on rebuilt automobile parts.

  • Defines "core charges" as deposits required by sellers to ensure buyers of rebuilt parts will exchange or trade-in a part capable of being rebuilt.

  • Exemption applies only when the buyer actually exchanges or trades in a part capable of being rebuilt for the rebuilt part purchased.

  • Effective date is November 1, 2014.

Legislative Description

Sales tax; providing exemption for certain sale of automobile parts. Effective date.

Revenue and Taxation

Last Action

coauthored by Ortega (principal House author)

2/12/2014

Committee Referrals

Finance2/4/2014

Full Bill Text

No bill text available