Oklahomans now have two months instead of just 30 days to obtain registration and title after purchasing a motor vehicle or a travel or commercial trailer after a new law took effect Nov. 1.
Rep. Steve Bashore, RMiami, authored House Bill 1390, which allows a temporary license plate to be valid for two months.
'I ran this legislation to give Oklahomans more time to pay their registration and title fees to offset the exorbitant amount of excise tax levied upon them,' Bashore said. 'I also wanted Oklahoma to catch up to what surrounding states have already enacted. Some allow even longer than 60 days for residents to pay tag and title fees after purchasing a vehicle.'
Since taking office, Bashore as filed several versions of a bill that would calculate excise tax – based on the net cost of a vehicle rather than the gross cost. It also would lower the taxation amount that Oklahomans currently face when trading vehicles. The measures would save consumers money.
Each year, the bills have overwhelmingly passed the House but stalled in the Senate. Bashore said he will run the legislation again in the next legislative session and every year until it passes.
'Lowering taxes and allowing Oklahomans personal freedom about how their income is spent is a proven way to keep our economy healthy,' Bashore said.
The measures also would bring Oklahoma in line with how regional states, such as Kansas, Texas and Arkansas, calculate excise tax. The move is estimated to save taxpayers about $47.3 million in associated motor vehicle excise tax from the deduction of the trade-in allowance.
Bashore said the state economy is doing exceedingly well with collections to the state treasurer remaining strong and a large amount in state savings.
'It's time to allow Oklahoma taxpayers to keep more of their hard-earned money.'