State Senator Kathleen Wilcoxson is hopeful Governor Henry will sign a measure aimed at leveling the playing field for Oklahoma businesses selling construction materials. Senate Bill 5, which is co-authored by Representative Ron Langmacher, D-Carnegie, would ensure that building materials are taxed at the point of delivery rather than the point at which the items were purchased.
"We routinely see out-of-state building supply companies underbid Oklahoma companies by 8 to 10 percent. They are able to do that because they aren't collecting the sales taxes as Oklahoma-based businesses are required to do. It's really a raw deal for our businesses. SB 5 makes sure everyone is playing by the same rules," said Wilcoxson, R-OKC.
Senator Wilcoxson said the legislation calls for the State Tax Commission to develop the mechanism for collecting those taxes on behalf of local and state government.
"It is estimated that we're losing up to $9 million a year because of the current situation. That's money that we desperately need for our schools, public safety and other vital services. I hope Governor Henry acts quickly to close a loophole that's leaving Oklahoma businesses at a disadvantage and costing us millions in lost revenues," said Wilcoxson.