OK SB1387

Expands motor vehicle sales tax calculation to allow individuals who sell a vehicle within 6 months before or after purchasing a new vehicle to pay tax only on the difference between the sold vehicle's value and the new purchase price

Creates a refund mechanism for individuals who sell a vehicle within 6 months after purchasing a new vehicle and already paid tax on the full purchase price, equal to 1.25% of the sold vehicle's value

Applies the same 6-month sale/purchase tax calculation rules to both Oklahoma sales tax (Section 1355) and use tax (Section 1404) on motor vehicles

Updates statutory language by changing capitalized references like "Motor Vehicle Excise Tax" to lowercase "motor vehicle excise tax" throughout the amended sections

Effective date: November 1, 2026