Oklahoma Enacts Exemption for Tax-Exempt Organization Fundraising Sales

Effective November 1, 2015, Oklahoma has enacted legislation that creates a sales tax exemption for sales by organizations or entities that are exempt from taxation under Internal Revenue Code, 26 U.S.C., Section 501(c)(3) which are related to a fundraising event sponsored by the organization or entity when the event does not exceed five consecutive days and when the sales are not in the organization’s or the entity’s regular course of business. The exemption is limited to tickets sold for admittance to the fundraising event and items donated to the organization or entity for sale at the event.(S.B. 336, Laws 2015, effective November 1, 2015)

Posted on April 27, 2015