Senate Bill No. 474 mandates that businesses must obtain a separate sale for resale exemption permit from the Oklahoma Tax Commission to utilize the sales tax exemption for resale. The bill stipulates that the permit can be obtained at no charge and allows businesses with multiple locations to operate under a single permit. The Oklahoma Tax Commission is authorized to issue these permits electronically or through other means, and all vendors are required to honor valid permits. Additionally, the bill prohibits certain vendors from claiming the exemption without a permit and establishes penalties for violations, including a misdemeanor charge and a fine of up to $1,000.

The bill also outlines that all sale for resale permits will expire on June 30 following their issuance and allows for the development of an electronic verification system for permit numbers. This system would enable sellers to confirm the validity of permit numbers, creating a presumption of validity for sales made under verified permits. The act is set to take effect on June 1, 2026.