Bill Exempting Nonprofits From Sales Tax Advances in Oklahoma
KOKH - March 3, 2023 7:49 am
OKLAHOMA CITY (KOKH) — The Oklahoma House of Representatives Appropriations & Budget Committee approved legislation to exempt 501(c)3 nonprofits from sales tax.
Under the bill, 501(c)3 nonprofit organizations established in the state who receive $3 million or less in annual gross revenue would be exempt from sales tax.
“Historically, a dollar in the hands of a nonprofit yields about $5 in assistance to their clients,” said Rep. Marilyn Stark. “Nonprofit entities are passionate about what they do and most of them do it very well. The government shouldn’t be limiting people who are passionate about caring for others; instead, we should be empowering those who help lessen the reliance on government, and exempting our nonprofits is a fantastic step in the right direction.”
The measure outlines that alcohol and tobacco purchases are not considered exempt purchases.
The bill passed the House A&B Committee 33-0 on Wednesday and now moves to the House floor.