Posted By: Avior Data Staff | Wed, 04/04/2018 - 15:03 | 0
Oklahoma Cigarette Tax Increases on July 1, 2018
Effective July 1, 2018 the cigarette tax in Oklahoma will increase an additional $1 per pack of 20 cigarettes and an additional $1.25 per pack of 25 cigarettes.
For the purpose of ensuring maximum wholesaler compliance, the Oklahoma Tax Commission (OTC) will not sell cigarette excise tax stamps to any wholesaler during the proceeding calendar year 2017. A wholesaler may purchase in excess of the monthly average upon documentation, to the ITC's satisfaction, of probable sales in excess of the wholesaler's sales in 2017.
After the effective date of July 1, 2018, and to allow a smooth transition for tribal rebates, sales to Tribal retail stores must include the stamp number affixed to the packs. This is to ensure the correct rebate amount. A new form to record those sales will be sent to each wholesaler making tribal sales and this form will need to be included with the monthly returns
Also effective after July 1, 2018, any stamps returned to cigarette manufacturers for credit must include stamp numbers so proper credit us given. Any returns not including this information will not be extended credit.
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