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Apply for Oklahoma Sales and Use Tax Permit

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Category : > Article Directory of Sales Tax Registration
Posted On : Wed Dec 21st,2016

An ultimate guide to register and file sales and use tax Oklahoma

What is Business Sales Tax Oklahoma?

Oklahoma Business sales tax is imposed on buyers who bought taxable tangible properties and received taxable services in the state of Oklahoma. Current sales tax rate in the state of Oklahoma is 4.5% and the updated sales tax rate is verified with the Oklahoma Tax Commission.

Oklahoma tax commission levied sales tax on gross receipts of the taxable items.

A seller works as a trustee or an agent between buyer and Oklahoma Tax Commission to collect sales tax which is paid back to the OK tax commission.

What is Business Use Tax Oklahoma?

Oklahoma business use tax is collected from the State of Oklahoma buyers if sales tax was not charged on taxable items, whether bought locally from Oklahoma or from an out of state vendor.

A buyer usually pays use tax directly to the Oklahoma tax commission, if it was not paid to the seller at the time of purchase or used taxable services.

What is the difference between sales tax and use tax?

In a simple word a sales tax is collected on the taxable items or services which are delivered in the state of Oklahoma, whereas the use tax is collected on the out of state purchases.

What is the significance of an Oklahoma sales and use tax license?

It is an authority which is essentially obtained from the state of Oklahoma to sales taxable products and services.

 How to apply sales and use tax license Oklahoma?

Described below the procedure to collect sales tax in the state of Oklahoma on the taxable items:

A sales and use tax application is filed electronically on the Oklahoma Tax Commission website.

Generally, The Oklahoma Tax Commission process a sales tax application in five to seven business days.

Oklahoma Sales and use tax permit is verifiable on the Oklahoma Tax Commission website.

What is the Oklahoma state filing fee to get a sales tax license Oklahoma?

Oklahoma Tax Commission filing fee is $20.00 to get a new sales tax license and it charges additional $10.00 for each additional location.

Is Oklahoma sales and use tax renewable?

Oklahoma sales tax and use tax permit are renewed after every three years with the Oklahoma Tax Commission.

What are the obligations and duties of a Sales Tax Permit Holder in the state of Oklahoma?

A sales tax permit holder in the state of Oklahoma is required to follow the following guidelines to maintain sales and use tax license:

Post Oklahoma sales tax certificate at business place on a prominently for a buyer and the agencies.

Renew sales tax license on time.

Collect sales tax according to the Oklahoma Tax Commission sales tax table which is available at the Oklahoma Tax Commission website.

Oklahoma sales tax returns are filed on time even there is no taxable and non-taxable sales.

How to determine  sales tax on taxable items?

Sales tax is charged based on the possession of taxable property. For example; if the taxable property, possession was taken place at the seller's business place, the source or location will become the seller's place to calculate sales tax.

If the taxable item delivery was made at the purchaser's location. The source location will be the purchaser's place to calculate sales tax.

What is the philosophy of Use Tax?

A use tax is created for the fair tax collection and stop an unfair competition between a local and the out of state taxable purchases.

A use tax is vital for the internet purchases and an internet buyer cannot bypass the sales tax. It is a substitute of a sales tax.

A buyer has an option to report sales tax on the income tax return on the out of state taxable purchases.

A use tax discourage buyers to avoid buying taxable products from the out of state vendor which is available in the home state.

A use tax also stimulates the spirit of the local vendors to sell taxable goods. Eventually a buyer pays tax on the taxable goods either to a vendor or report on income tax return.

Does Nationwide Sales Tax Permit Exist?

There is no nationwide sales tax permit exists. As many as 24 states have taken an initiative and adopted streamline sales tax permit "so called a nationwide sales tax permit" which is good for the 24 states vendors including Oklahoma State.

The objectives to adopt the streamline sales tax permit Oklahoma is described below:

It allows 24 states vendors to use one sales tax certificate to perform any sales tax activity.

The streamline sales tax application is submitted to "Streamline Sales Tax Governing Board".

How to file sales tax returns Oklahoma?

The guidelines to file sales tax returns are listed on the Oklahoma Tax Commission website.



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