Oklahoma Tax Commission Adopts Amended Regulation on Audits of Mixed Beverage Tax Permit Holders

The Oklahoma Tax Commission Aug. 1 adopted an amended regulation on liabilities and audits of mixed beverage tax permit holders for gross receipts tax upon sale, preparation, or service of all alcoholic beverages purchased or received. The amendment conforms the rule with legislative changes, which reinstates the compliance percentage parameters for gross receipts tax paid on spirits, wine, and beer regarding an audit conducted by the Tax Commission and provides for a maximum deduction allowance of 10 percent for product losses attributable to breakage, spillage, theft, and other occurrences. The regulation takes effect Aug. 11. [Okla. Tax Comm’n, Reg. Section ...