OK SB248

Amends Oklahoma cigarette stamp tax law (68 O.S. 2011, Sections 305 and 308) to modify stamp exchange and sales procedures.

Removes the Tax Commission's authority to exchange stamps or issue new stamps to non-wholesalers; limits credit for returned cigarettes to wholesalers only.

Eliminates the provision allowing persons who receive exchanged stamps to resell them to wholesalers; restricts stamp sales to licensed manufacturers, wholesalers, warehousemen, jobbers, and retailers.

Modifies Section 308(b) to require Tax Commission approval before wholesalers can obtain credit for unstamped cigarettes returned to manufacturers or destroyed.

Becomes effective November 1, 2015.