Updated regs on marketplace facilitators & sales tax in Oklahoma
Sales tax may be soon be collected by marketplace facilitators during more purchases in the Sooner State. Here’s why: SB 1339 updates the definition of what’s considered a marketplace facilitator.
As of Jan. 1, 2023, the new definition says that a marketplace facilitator is now a person that facilitates the sale at retail of a marketplace seller’s product. Previously, the language in the definition was more narrow, stating “tangible personal property.”
Additional changes indicate that a person is considered a marketplace facilitator if they list or advertise products for sale at retail in any forum.
That means marketplace facilitators selling digital items and other nontangible products will soon be responsible for collecting sales tax from customers.
The bill also updates the definition of a remote seller, saying that it’s a person selling products at retail through a forum that doesn’t have a physical presence in Oklahoma and doesn’t otherwise qualify as a marketplace facilitator.
- Share on
Free Training & Resources
White Papers
Provided by UJET
Further Reading
States are always looking for ways to attract new businesses and prevent existing ones from pulling up stakes. Lowering corporate taxes is ...
Any business owner who paid employee salaries or health benefits during COVID-19 restrictions will be waiting a while longer for a tax cred...
The outcome of the presidential race and which party will control the House and Senate is too close to call. But a handful of economic idea...
The IRS is extending an olive branch to businesses that received tax credits related to COVID-19 in error. The tax cops are launching a ...
No matter where entrepreneurs decide to start a business, they face a variety of taxes and regulations that cut into the bottom line from t...
Another April 15 came and went, leaving many of us poorer and grumbling about government spending. For business owners and the CFOs and con...
