SB 1628 Summary

• Amends 68 O.S. 2011, Section 1365 regarding sales tax remittance requirements for vendors in Oklahoma.

• Allows vendors to request a permanent exception from the requirement to remit sales tax by electronic funds transfer (EFT), though they must still participate in the electronic data interchange program.

• Exception applies to vendors subject to subsections B, C, or D of Section 1365 (those owing average monthly sales taxes of $100,000 or more, $25,000 or more, or $2,500 or more respectively).

• Authorizes the Oklahoma Tax Commission to prescribe rules for alternative remittance procedures for vendors granted exceptions from EFT requirements.

• Effective November 1, 2014.