For Immediate Release
March 20, 2006

Oklahoma is Front Runner in Streamlined Sales Tax Project

Oklahoma is Front Runner in Streamlined Sales Tax Project

Oklahoma is Front Runner in Streamlined Sales Tax Project

Tax Commission leads the way in streamlining sales tax and offering amnesty to retailers.

Effective October 1, 2005, a new system, the Streamlined Sales Tax Project (“SSTP”) went into place that affects retailers who make deliveries or sell in more than one state. Oklahoma is one of 19 states leading the way in a collaborative effort to streamline the way sales tax is reported and remitted across the United States .

Oklahoma is now part of a centralized registration system where retailers can go to a web site to automatically register at one time in the states it does business that are members of the SSTP, thus eliminating the need to go to each individual state to register.

Benefits for retailers participating in the SSTP include uniform definitions of tangible personal property and services, and a standard sales tax rate and uniform audit procedures and rules that are simplified for sourcing transactions across state and local jurisdictions.

Perhaps the most attractive benefit to this project is its amnesty program. The program is available for sales and use taxes uncollected or unpaid on sales by retailers for any period of time prior to registration through the SSTP Central Registration System, and allows retailers to enter into the agreement and not have to worry about the consequences of not having filed past reports or taxes with other states and local jurisdictions.

Retailers not currently registered to collect sales taxes in member states and who volunteer to collect or pay sales or use taxes in the member states are eligible for the amnesty program by registering through the SSTP Central Registration System.

If you would like additional information on this topic or have any questions, please contact the taxdesk@thesaltgroup.com

 

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