Tag: Institute on Taxation and Economic Policy

A low tax state for who?

Like most state tax systems, Oklahoma takes a much larger share from middle- and low-income families than from wealthy families, according to the fourth edition of “Who Pays? A Distributional Analysis of the Tax Systems in All 50 States,” released… Read more [More...]

How Oklahomans fare under competing plans for the Bush tax cuts

Middle- and low-income Oklahomans would pay somewhat more in taxes under the Congressional Republicans’ approach to extending the Bush tax cuts than they would under President Obama’s approach, while high-income Oklahomans would pay far less under the Republican approach, according… Read more [More...]

Report tracks how large corporations avoid state taxes

A comprehensive new study finds that many consistently profitable companies are paying little to no corporate income taxes on those profits. Out of 265 Fortune 500 companies examined, 68 managed to pay no state income tax in at least one… Read more [More...]

Three reforms to modernize Oklahoma's income tax

At the first meeting of the legislature’s tax reform task force, both chairmen expressed support for making top-down cuts to Oklahoma’s income tax or eliminating it entirely. In a previous post, we explained why that’s a bad idea. In this… Read more [More...]

'Flip It To Fix It' report offers an immediate, fair solution to state budget shortfalls

A study released today finds that inverting state tax structures—whereby the highest income earners would be taxed at the current percentage of income for the lowest income earners, and vice versa—would raise more than $4 billion in new revenue for… Read more [More...]