OK HB4318

Sellers and vendors may deduct 1% of sales tax due as compensation for keeping records, filing reports, and remitting taxes on time

Deduction is capped at $1,000 per month per sales tax account number

Deduction is not available for late filings or payments, unless the Oklahoma Tax Commission determines the delay resulted from a federally declared major disaster

Sellers and vendors collecting use tax receive the same deduction amount as provided under the sales tax code

Effective date: November 1, 2026