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OK HB1674

Bill

Official Source

Status

Introduced

2/2/2015

Primary Sponsor

Steve Kouplen

Click for details

Origin

House of Representatives

2015 Regular Session

AI Summary

  • Amends 68 O.S. 2011, Section 2104 to add exception for salvage title vehicle valuation in excise tax calculations
  • Vehicle excise tax values for salvage-eligible vehicles shall be calculated at 50% of the actual sales price when ownership was last legally transferred prior to the vehicle becoming eligible for a salvage title
  • Maintains existing requirement that vehicle values must be within 20% of average retail price listed in automotive reference material prescribed by the Oklahoma Tax Commission
  • Bill of sale or Tax Commission form must include actual sales price, number of tires, and tire rim diameters as basis for motor vehicle excise tax
  • Act becomes effective November 1, 2015

Legislative Description

Revenue and taxation; excise tax calculation for salvage title vehicles; effective date.

Motor Vehicles and Transportation

Last Action

Referred to Appropriations and Budget Revenue and Taxation Subcommittee

2/3/2015

Committee Referrals

Appropriations and Budget2/3/2015

Full Bill Text

No bill text available