Tag: personal exemption

Tax cut proposal Q & A

NOTE: This post has been updated as new information becomes available Yesterday, the Governor and legislative leaders announced agreement on a ‘joint proposal for income tax reduction and tax code simplification’. (Click here for a summary and here for HB… Read more [More...]

The myth about Oklahoma’s tax system that we keep repeating

Something we often hear about Oklahoma’s tax system is that the top rate kicks in so low that it affects almost everyone. Most recently, a Tulsa World article stated: The current comparable top rate is 5.25 percent, which kicks on… Read more [More...]

Task force proposal would raise taxes on most Oklahomans, especially harm seniors and families with children

A proposal by the legislature’s tax reform task force would raise taxes for most Oklahomans, with the worst impact on low-income seniors and families with children, according to a new fact sheet from the Oklahoma Policy Institute. The task force… Read more [More...]

Task Force proposes tax hike on poor and middle class to benefit the wealthiest

This afternoon, the Senate Task Force on Comprehensive Tax Reform released its final report. The most significant recommendation is to make further cuts to the top rate and replace that revenue by ending numerous tax credits. Almost two-thirds of the… 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...]