Changes in store for Internet sales tax

Changes in store for Internet sales tax

OKLAHOMA CITY, OK (KSWO) –Starting Nov. 1, online purchases will be done slightly different in Oklahoma.

Governor Mary Fallin signed House Bill 2531, the "Retail Protection Act," into law. The bill requires online retailers that don't have a physical location in Oklahoma to either voluntarily collect taxes on purchases from Oklahoma residents or send them a notice at the end of the year to let them know how much they spent. The bill requires that notice to remind Oklahomans that sales tax and use tax is required.

"The governor's signature helps protect Oklahoma businesses by lessening the benefit online retailers receive by not collecting Oklahoma Sales tax," said Rep. Chad Caldwell, R-Enid, the bill's author. "This also means millions of dollars for vital state services such as education and health care."

Caldwell says this isn't a tax increase, but rather a way to collect owed taxes.

The House passed the bill, 70-18, on May 12. The Senate passed the bill, 31-12, on April 21.

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