Oklahoma Governor Signs Law, Includes Sales Tax Exemptions, Income Tax Credits

The Oklahoma Governor signed a law amending, merging, consolidating, and repealing multiple versions of statutes. The law includes: 1) amending the sales tax statute to add a sales tax exemption for sales to certain nonprofit entities organized prior to 2019, providing assistance to natural persons following a disaster; 2) amending the sales tax statute to add a sales tax exemption for sales to certain tax exempt organizations providing support for transition to civilian life for military personnel and veterans; and 3) amending the income tax statute to expand the one-time credit for investments in qualified clean-burning motor vehicle fuel property ...