Oklahoma Sales & Use Tax Changes
The state legislature has directed the Oklahoma Tax Commission to modify the payment structures for sales and use taxes. The state currently issues a ten percent (10%) discount on timely payments of these taxes as an incentive to taxpayers, but effective July 1st, 2017, OTC will no longer be authorized to grant such discounts. The change in legislation does not impact the due date of sales and use taxes, which must be paid by the 20th of each month, and it does not alter the penalties levied for failure to file.
If you have questions regarding this change in legislation or if you have concerns regarding another matter, please do not hesitate to contact our office. We will be happy to assist you.