SB 240 Summary

• Amends Oklahoma sales tax law to clarify that newspapers and periodicals are exempt from the 4.5% excise tax on tangible personal property.

• Defines a periodical as exempt if an issue is published at least once each year or if issues appear at stated or regular intervals.

• Requires Group Three vendors to include notice in all print or electronic advertisements that sales are subject to Oklahoma sales tax, unless specifically exempt.

• Becomes effective November 1, 2015.