Get Declaration Of Vehicle Purchase Price - Oklahoma Tax Commission - Tax Ok

Does a bill of sale have to be notarized in Oklahoma? Yes. Oklahoma has a form called a Declaration of Purchase Price, which is equivalent to a bill of sale and is legally required for all private party transactions. This form needs to be signed in front of a notary public.

Vehicle ownership transfer fee: $17. Certificate of ownership: $4. Notice of transfer filing fee: $10. Lien processing fee: $10 (if the lien holder is out of state: $13)

While drafting a bill of sale is good standard practice for the purchase of many big-ticket items, they are required for the purchase of boats or motor vehicles in the state of Oklahoma. You can use the form the state of Oklahoma provides (Form 722-1) or you can draft your own.

The record owner(s) or lienholder must sign the 701-7 form and their signature(s) notarized by a Notary Public.

Oklahoma requires that the seller(s) signature be notarized. The buyer does not have to sign in front of a notary. To transfer the title, the title will have to be notarized.

Taxpayers pay an excise tax of 3.25 percent of the price when they buy a new vehicle and a lower tax rate on used vehicles (depending on the sales price). There is also an annual registration fee of $26 to $96 depending on the age of the vehicle.

Oklahomans pay an excise tax when a vehicle is purchased, which is at a rate of 3.25%, but the basis for this tax is the total delivered price of the vehicle. (For used vehicles, the total delivered price is reduced by 35% for each year of the vehicle's age.)

How Do I Write an Oklahoma Bill of Sale? Their name (printed) The date of the bill of sale. Certain information about the item being sold. The amount the item was sold for. The signatures of the involved parties. In some instances, the bill of sale may also need to be notarized.