§ 68-5403. Manufacture or purchase of stamps - Form - Bond - Distribution - Custody.

A.  The tax stamp or stamps required by Section 5402 of this title to be affixed upon the dealer's copy of the sales invoice covering each new or used whole goods agricultural equipment or whole goods attachment thereto sold shall be manufactured or purchased by the Oklahoma Tax Commission in the required amounts.  Said tax stamps shall be of such design, color combination and material and value in multiples of Six Dollars ($6.00) as the Tax Commission shall deem necessary for the administration of this tax and to afford the best security to the tax revenue involved.  Said stamps shall be purchased by dealers in the county where the business is located.

B.  The Commission may require any manufacturer of such tax stamps to furnish a bond in such amount as it deems necessary to protect the state and local taxing entities against loss.

C.  The Tax Commission shall distribute such tax stamps to the county treasurer of each county, taking such receipt therefor as may be necessary.  The county treasurer shall have the responsibility of the custody and the sale of the stamps to the person required by Section 5402 of this title to obtain such stamps.  In addition, the county treasurer shall have the duty of accounting for said stamps to their respective counties, and to the Oklahoma Tax Commission as it may require.

Added by Laws 1991, c. 149, § 3, eff. Jan. 1, 1992.  Amended by Laws 1992, c. 360, § 9, eff. July 1, 1992.