The Senate has approved a measure that would grant a sales tax exemption for the purchase of some forestry equipment.
Senate Bill 213, authored by Sen. George Burns, R-Pollard, would provide a sales tax exemption on the sales of certain forestry equipment, including forwarders, feller bunchers, track skidders, wheeled skidders, hydraulic excavators, delimbers, soil compactors and skid steer loaders. The exemption would be awarded to businesses engaged in logging, timber and tree farming.
“The forestry industry is one of the biggest economic drivers in Southeastern Oklahoma, but unfortunately, many of these businesses are crossing state lines to Texas and Arkansas to purchase their equipment because both of these states already offer a sales tax exemption,” Burns said. “I want these companies to bring their business back to Oklahoma and awarding this exemption would help us to do so.”
Under the measure, the exemption would be in effect for five years, from 2022 to 2027.
The bill now moves to the House of Representatives where Rep. Eddy Dempsey, R-Valliant, will serve as the principal House author.