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OK SB1623
Bill
Status
2/3/2014
Primary Sponsor
Frank Simpson
Click for details
AI Summary
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Amends 68 O.S. 2011, Section 1357 to expand the sales tax exemption for certain disabled veterans to include surviving spouses receiving Dependency and Indemnity Compensation (DIC) from the U.S. Department of Veterans Affairs.
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Surviving spouses receiving DIC benefits who have not remarried become eligible for sales tax exemptions on purchases, with an annual limit of $1,000 (compared to the $25,000 annual limit for living disabled veterans).
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The exemption applies to tangible personal property and services purchased by or for eligible spouses, including purchases made by authorized household members on the spouse's behalf.
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Eligible individuals must provide sworn statements to the Oklahoma Tax Commission confirming that exempt sales do not exceed annual limits; excess sales become taxable and may be collected with penalties and interest.
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Effective date: November 1, 2014.
Legislative Description
Sales tax; expanding specified exemption to spouses in receipt of compensation from the US Department of Veterans Affairs. Effective date.
Revenue and Taxation
Last Action
coauthored by Hardin (principal House author)
2/6/2014