oklahoma auto sales tax and fees
Oklahomas motor vehicle taxes are a combination of an excise sales tax on the purchase of a vehicle and an annual registration fee in lieu of ad valorem property taxes. Motor vehicle taxes in Oklahoma are both selective sales taxes on the purchase of vehicles and ongoing taxes on wealth the value of the vehicles.
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Now Oklahomans purchasing a vehicle will have to pay a 125 percent tax on top of the 325 percent excise tax.
. If you are a nonresident but purchase a vehicle in Oklahoma you are not assessed the tax as long as you title and register the vehicle in your home state. We are a network of over 300 independent state-appointed tag agents that work with the Oklahoma Tax Commission Department of Public Safety and other state. Oklahoma has recent rate changes Thu Jul 01 2021.
With local taxes the total sales tax rate is between 4500 and 11500. 325 of the purchase price or taxable value if different Used Vehicle. If the purchased price falls within 20 of the Blue Book value.
Multiply the vehicle price after trade-ins and incentives by the sales tax fee. Tag Tax Title Fees Unconventional Vehicles Boats Outboard Motors Rules Policies IRP IFTA 100 percent Disabled Veterans Sales Tax Exemption Motor Vehicle Exemption Ad Valorem Exemption E-File Free File Businesses Tax Types. 20 up to a value of 1500 plus 325 percent on the remainder.
9th through 12th year of registration. Home auto oklahoma sales tax. The actual excise tax value is based on the Blue Book value as established by the Vehicle Identification Number VIN.
As of July 1 2017 Oklahoma. Removing that exemption is expected to generate 123 million within the next fiscal. Until 2017 motor vehicles were fully exempt from the sales tax but under HB 2433 the exemption was partially lifted and motor vehicles became subject to a 125 percent sales tax.
In oklahoma localities are allowed to collect local sales taxes of up to 200 in addition to the oklahoma state sales tax. The excise tax for new cars is 325 and for used cars the tax is 2000 for the first 150000 and 325 on the remainder of the sale price. To calculate the sales tax on your vehicle find the total sales tax fee for the city andor county.
13th through 16th year of registration. In Oklahoma this will always be 325. Oklahoma auto sales tax and fees Saturday March 12 2022 Edit.
17th year and over. Pin By M On Tax Lettering Tax Michigan Vehicle Bill Of Sale Form Download The Free Printable Basic Bill Of Sale Blank Form Template In Microsoft Word Bill. So if you used a 8 general sales tax rate for your state this would have to be the same sales tax rate for your vehicle purchase.
325 percent of purchase price. However the excise tax you pay in Oklahoma when you purchase a vehicle is deductible as part of the general sales tax. You are only allowed the major purchase additional sales tax amount if the sales rate you used for your general state sales tax rate is the same sales tax rate on your major purchase.
Typically the tax is determined by the purchase price of the vehicle given that the sale price falls within 20 of the average retail value of the car regardless of condition. For example imagine you are purchasing a vehicle for 50000 with the state sales tax of 325. 30 rows The state sales tax rate in Oklahoma is 4500.
Commercial trucks and truck tractors registration fees are based upon the declared gross laden weight. The excise tax for new cars is 325 and for used cars the tax is 2000 for the first 150000 and. Together these two motor vehicle taxes produced 728 million in 2016 5 percent of all tax revenue in the state.
The age of the vehicle is also considered for trucks with a gross laden weight of 15000 lbs or less. 2000 on the 1st 150000 of value 325 of the remainder New BoatMotor. Motor Vehicle Excise Tax Purchase Types New Vehicle.
325 of taxable value which decreases by 35 annually New Manufactured. We would like to show you a description here but the site wont allow us. Tax rates are calculated differently for each category of vehicle.
None of the yearly fees you pay to register your car in Oklahoma is deductible as personal property tax as the fees are not based on the value of your car. As noted above. This is the largest of Oklahomas selective sales taxes in terms of revenue generated.
325 of the manufacturers original retail selling price Used BoatMotor. 425 motor vehicle document fee. Please view the Oklahoma link below for more information.
Select the Oklahoma city from the list of popular cities below to.
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