STATE OF OKLAHOMA

1st Session of the 53rd Legislature (2011)

SENATE BILL 456	By:	Bingman

AS INTRODUCED

An Act relating to revenue and taxation; amending Section 1, Chapter 462, O.S.L. 2003 (68 O.S. Supp. 2010, Section 1357.9), which relates to sales taxes; clarifying statutory reference; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     AMENDATORY     Section 1, Chapter 462, O.S.L. 2003 (68 O.S. Supp. 2010, Section 1357.9), is amended to read as follows:
Section 1357.9  A.  There are exempt from the taxes imposed by Section 1351 et seq. of Title 68 of the Oklahoma Statutes this title service transactions among related entities.
B.  For purposes of this section, "related entity" includes persons as defined by subsection (b) of Section 267 of the Internal Revenue Code.
C.  An exemption authorized by this section does not apply to a service that would have been taxable under Section 1351 et seq. of Title 68 of the Oklahoma Statutes this title as it existed on July 1, 2003.
D.  Services that are exempt under this section may not be purchased for resale by the providing company.
E.  Tangible personal property that is transferred as an integral part of a service exempted under this section may not be purchased for resale by the providing company.
SECTION 2.  This act shall become effective November 1, 2011.

53-1-427	CD	1/18/2011 2:59:52 PM