OK HB1858

Increases the excise tax on low-point beer (0.5% to 3.2% alcohol by volume) from $11.25 to $45.00 per barrel of 31 gallons or less, effective July 1, 2015.

Allocates the tax revenue as follows: $11.25 per barrel to the General Revenue Fund, and the remaining $33.75 apportioned to state, municipalities, and counties based on their proportional sales tax collections in the preceding month.

Grants wholesalers a 1% collection allowance on tax remittances to the Oklahoma Tax Commission.

Exempts machinery and equipment used directly in low-point beer manufacturing from all state sales and use taxes.

Adds low-point beer to the list of products exempt from Oklahoma sales tax when the corresponding excise tax has been paid, and declares an emergency for immediate enactment upon passage and approval.