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An Oklahoma Sales Tax Permit is a license that allows businesses to collect sales tax in the state and pass it on to the Oklahoma government. The Oklahoma Tax Commission (OTC) requires permits for any business selling tangible personal property or certain kinds of services within the state.

If the return is an annually-filed return, we can review three years of returns prior to the date filed, or the return due date, whichever is later. In some cases, the OTC may go back further than three years.

Oklahoma sales tax is levied at 4.5% of the gross receipts from the sale or rental of tangible personal property and from the furnishing of specific services.

What is the Oklahoma sales factor? The sales factor of the Oklahoma apportionment formula is a fraction. The numerator is the total sales or gross revenue of the taxpayer in Oklahoma during the tax year, and the denominator is the total sales or gross revenue of the taxpayer everywhere during the same period.

Oklahoma franchise (excise) tax is levied and assessed at the rate of $1.25 per $1,000.00 or fraction thereof on the amount of capital allocated or employed in Oklahoma.

The basis of the apportionment is the arithmetical average of three factors consisting of property, payroll and sales. If fewer than three factors are present, the resulting amount is apportioned to Oklahoma on a two-factor or single-factor formula consisting of the arithmetical average of the factors present.

If a federal consolidated return is filed, an Oklahoma consolidated return may be required or permitted under certain circumstances. ( Instructions, Form 512, Oklahoma Corporation Income Tax Return) The election to file a separate return or a consolidated return is made with the timely filing of the return.

Section 7-17-3 - What constitutes "Nexus" (a) If a corporation has one or more of the following activities in Oklahoma, it is considered to have "nexus" and shall be subject to Oklahoma income taxes: (1) Maintenance of any business location in Oklahoma, including any kind of office.

Some customers are exempt from paying sales tax under Oklahoma law. Examples include government agencies, some nonprofit organizations, and merchants purchasing goods for resale. Sellers are required to collect a valid exemption or resale certificate from buyers to validate each exempt transaction.