For Immediate Release
March 20, 2006
Tax Commission leads the way in
streamlining sales tax and offering amnesty to retailers.
Effective October 1, 2005, a new
system, the Streamlined Sales Tax Project (“SSTP”) went into place
that affects retailers who make deliveries or sell in more than one state.
Oklahoma is now part of a centralized
registration system where retailers can go to a web site to automatically
register at one time in the states it does business that are members of
the SSTP, thus eliminating the need to go to each individual state to
register.
Benefits for retailers participating in
the SSTP include uniform definitions of tangible personal property and
services, and a standard sales tax rate and uniform audit procedures and
rules that are simplified for sourcing transactions across state and local
jurisdictions.
Perhaps the most attractive benefit to
this project is its amnesty program. The program is available for
sales and use taxes uncollected or unpaid on sales by retailers for any
period of time prior to registration through the SSTP Central Registration
System, and allows retailers to enter into the agreement and not have to
worry about the consequences of not having filed past reports or taxes
with other states and local jurisdictions.
Retailers not currently registered to collect sales taxes in member states and who volunteer to collect or pay sales or use taxes in the member states are eligible for the amnesty program by registering through the SSTP Central Registration System.
If you would like additional information on this topic or have any questions, please contact the taxdesk@thesaltgroup.com
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