SB 571 Summary

• Amends Oklahoma sales tax code (68 O.S. 2011, Section 1358) to expand and update agricultural sales tax exemptions.

• Allows sales tax exemption for agricultural products sold directly to consumers at farms, roadside stands, or farmers markets as defined by the Oklahoma Department of Agriculture, Food, and Forestry.

• Exempts sales of livestock, feed, seeds, fertilizers, pesticides, farm machinery, and equipment used in commercial agricultural production when purchased by farmers and ranchers engaged in farming or ranching for profit.

• Defines "agricultural products" to include horses and "ranching" to include the business of raising horses, while excluding sales at race meetings from the exemption.

• Becomes effective November 1, 2015.