SB437 Summary

• Amends Oklahoma sales tax law (68 O.S. 2011, Section 1356) to modify and expand exemptions for governmental and nonprofit entities from state sales tax.

• Adds exemptions for aquariums exempt under Internal Revenue Code Section 501(c)(3) to admission ticket sales, allowing tax amounts to be used for debt servicing and promoting out-of-state visitation.

• Expands exemptions to include sales to various nonprofit organizations and groups including youth athletic teams, cultural organizations, community service organizations, and Second Amendment advocacy groups.

• Clarifies procedures for certification and refunds related to exempt sales, with penalties including double the sales tax amount or up to 60 days incarceration for false certification.

• Effective date: November 1, 2015.