HB 1900 Summary

• Increases the vendor sales tax threshold triggering semimonthly remittance requirements from $5,000.00 to $25,000.00 average monthly sales tax liability in the previous fiscal year, effective October 1, 2016.

• Requires vendors owing $2,500.00 or more per month in average sales taxes to compute and remit taxes monthly accompanied by reports, participating in electronic funds transfer and electronic data interchange programs, effective October 1, 2016.

• Oklahoma Tax Commission must provide written notice to taxpayers whose remittances will subject them to new semimonthly requirements, with no penalties or interest imposed for 60 days after notice receipt.

• Preserves existing exemptions for lumber and building materials dealers (except home centers classified as NAICS 444110) to remit and report under basic monthly requirements.

• Effective date: October 1, 2015.