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 will be issued upon proper application and verification by the Commission. Businesses with multiple locations can operate under a single permit, and the Commission is authorized to provide electronic access to the permits. Vendors are required to honor valid permits, and it is unlawful for certain designated vendors to claim the exemption without a permit.

The bill also establishes penalties for non-compliance, including a misdemeanor charge and a fine of up to $1,000 for individuals who claim the exemption without a valid permit. Additionally, all permits will expire on June 30 following their issuance, and the Commission is tasked with developing a system for verifying permit validity, which sellers can use to confirm the legitimacy of the permits presented to them. The act is set to take effect on June 1, 2026.