OKLAHOMA CITY (AP) - State lawmakers are studying whether to lower the discount cap to businesses that help the state collect sales tax revenue.
Mickey Hepner, director of the University of Central Oklahoma Policy Institute, told members of a House committee Tuesday the state could save about $20 million by lowering the cap on vendor discounts to $187. The current cap is $3,300.
Democratic Leader Danny Morgan of Prague says vendors have reduced the time and effort they spend in computing the sales tax since discounts were put in place decades ago.
Morgan says it makes sense to revisit whether they needed to be compensated at the same level for collecting it.
Vendors must pay electronically to qualify for the 2.25 percent discount. Otherwise, they receive a 1.25 percent discount.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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