A day without taxes…

I’ve had it. Why can’t we make society work without taxes? I’m willing to try, I think, as I doze off… [More...]

Bill Watch: Quieter year expected on the tax front

Some of the fiercest battles of recent legislative sessions have centered on tax policy as lawmakers debated competing tax proposals to limit funding cuts and provide teachers a raise. This year, thanks to a strong economy and recent tax increases, the state's budget outlook is greatly improved. Yet even if the stakes are lower, lawmakers still filed hundreds of bills this session that would revise Oklahoma's tax system. [More...]

Court ruling gives Oklahoma the chance to fully fix online tax problem

As online commerce has grown into an ever-increasing share of the U.S. economy, Oklahoma and other states have struggled with the problem of lost tax revenue from untaxed sales. A major Supreme Court ruling this past June, combined with actions… Read more [More...]

New analysis: Low-income taxpayers in Oklahoma pay more than twice the tax rate paid by the richest Oklahomans

While Oklahoma has a reputation as a low tax state, poor and middle-income Oklahomans are actually paying a greater share of their income in taxes than the national average, while the richest 5 percent of households — with annual incomes… Read more [More...]

With SQ 800, Oklahoma voters to decide on saving fossil fuel revenues in a long-term endowment

Oklahoma will begin to set aside a portion of future oil and gas revenues for a new reserve fund if voters approve State Question 800 in November. SQ 800 creates a new trust fund known as the Oklahoma Vision Fund in… Read more [More...]

What we know – and don’t know – about the revenue bill veto challenge

In late March, on the eve of an anticipated teacher walk-out, Oklahoma lawmakers approved a series of bills intended to provide pay raises for teachers, school support staff, and state employees. To pay for the raises, lawmakers approved a number… Read more [More...]

Unheralded law puts increased funding in doubt

Lawmakers this year have approved over half a billion in new taxes to pay for a package of spending measures, including increased pay for teachers, support staff, and state workers, and increased operating support for schools. While the new obligations… Read more [More...]

Will the teacher raise be delayed by a veto petition?

[Note: The post has been edited to correct the information regarding HB 1024xx] On March 28th, just hours before Oklahoma Senators were to vote on pay raises for teachers and other employees funded by new taxes, a group calling themselves “Oklahoma… Read more [More...]

Oklahoma makes progress on collecting taxes from online sales

This session has seen the Oklahoma Legislature take a couple of important steps towards addressing the problem of untaxed online sales. These bills and reforms from earlier sessions are moving Oklahoma closer to an even playing field when it comes… Read more [More...]

The real cost of the capital gains deduction could be much more than $100 million, but we have good options for reform

Oklahoma’s capital gains deduction is the most expensive tax incentive in the state, according to reports from the Oklahoma Tax Commission. In 2015-2016, this deduction cost $105 million, and it led to an estimated $474 million in forgone tax revenues from 2010… Read more [More...]