OKLAHOMA CITY, Feb. 24, 2011 /PRNewswire/ -- Ryan, the leading tax services firm in North America, with the largest transaction tax practice in the United States and Canada, today announced that Oklahoma's Senate Bill 950 ("SB 950"), if enacted, would narrow the state's definition of nexus for sales and use tax purposes. Under SB 950, the definition of a "retailer" required to collect Oklahoma use tax will no longer include an out-of-state retailer that holds an ownership interest in an Oklahoma retailer. In addition, the bill deletes a presumption that if a member of a controlled group is engaged in business in Oklahoma, other members of the group are engaged in business and must collect Oklahoma use tax.
SB 950 also removes a use tax notification requirement and Oklahoma's "Internet Retailer Outreach Program," both of which were enacted in 2010.
Ryan is the leading global tax services firm, with the largest indirect tax practice in North America and the seventh largest corporate tax practice in the United States. Headquartered in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. In 2010, Ryan received the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the award-winning myRyan work environment which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 900 professionals and associates serves many of the world's most prominent Fortune 1000 companies. More information about Ryan can be found at www.ryan.com.