Revenue and Taxation; vehicle excise tax; value; bill of sale; report; effective date.

This bill changes how Oklahoma calculates vehicle excise tax by requiring sellers to list the actual sales price (before trade-in discounts), tire count, and tire rim size on the bill of sale. It also mandates that the sales price must fall within 20% of the average retail value from Service Oklahoma’s automotive guides. These changes apply to all vehicle sales and transfers of ownership in Oklahoma. Additionally, Service Oklahoma must report the tax’s fiscal impact to state officials by November 1, 2026.