This bill amends various sections of the Oklahoma Statutes concerning sales and excise taxes, particularly focusing on motor vehicle transactions. It introduces a complete exemption from sales tax for the sale of motor vehicles, eliminating the previous requirement for consumers to pay sales tax alongside the motor vehicle excise tax. Additionally, the bill removes the exemption for sales tax collected on motor vehicles, streamlining the tax process. It also relieves vendors from liability when a purchaser improperly claims an exemption, provided they adhere to specific guidelines, thereby simplifying tax obligations for consumers.

Moreover, the bill clarifies that the sale of motor vehicles will not be subject to certain sales and use taxes imposed by local jurisdictions, while retaining annual vehicle registration and license fees, as well as a $1.00 fee for issuing a certificate of title. It removes the previous 1.25% tax on gross receipts from motor vehicle sales but maintains the liability of dealers and vendors for sales tax on accessories and parts not attached to vehicles at the time of sale. The act is set to take effect on July 1, 2026, and includes an emergency clause for immediate implementation upon passage and approval.

Statutes affected:
Introduced: 68-1355, 68-1404