Tag: itemized deductions

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...]

Limiting itemized deductions would improve the fairness and adequacy of the state income tax

Earlier this year, we called attention to one of the stranger loopholes in the Oklahoma tax code, the case of the “double deduction” of state income taxes.  Federal tax law allows taxpayers who itemize their deductions to claim a deduction… Read more [More...]