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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 710. Oklahoma Tax Commission |
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Chapter 22. Boats and Motors |
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Subchapter 9. Excise Tax |
SECTION 710:22-9-1. General provisions
Latest version.
- (a) Date due; penalty. Excise tax, as levied by Section 4103 of Title 63, is due at the time of transfer of legal ownership or possession of a boat or an outboard motor and must be paid within thirty (30) days of such date. After the thirtieth (30th) day, a penalty is to be collected in addition to the tax due. A daily penalty will accrue until the tax is paid. However, the penalty is not to exceed the amount of the tax due.(b) Determination of taxable value. The taxable value, for excise tax purposes, of a new boat or outboard motor is the manufacturer's original retail delivered price of the boat or outboard motor. The taxable value for used boats or outboard motors is depreciated, based on the age of the boat or outboard motor, as provided by statute.(c) Rate on sale of new boat or outboard motor by dealer. A new boat or outboard motor sold for the first time will always be assessed the first year rate, regardless of the model year. If resold during the same year, the second year rate is assessed.(d) Rates generally; determination of model year. In all other cases, the excise tax rate is based on the model year and the year in which the title is assigned. In determining the number of years, include the model year, year of assignment, and each year in between.(e) Exemptions. Certain transactions and transfers of title, as enumerated in Section 4106 of Title 63, are exempt from the assessment of excise tax.(f) Exceptions. Amphibious vehicles, concurrently titled as both vehicle and vessel, are to be assessed only vehicle excise tax levied pursuant to Section 2103 of Title 68.