Topic: Budget & Tax

It’s time to end the horizontal drilling tax break

By: David Blatt
May 12, 2014 // Updated: May 2, 2019
In a year’s time, a temporary tax break that reduces the tax paid on horizontal oil and gas production from 7 percent to 1 percent for 48 months is set to expire. Executives from the three largest Oklahoma-based companies that… Read more [More...]

Everyone contributes, everyone benefits (Guest post: Howard Koerth)

By: Guest
May 9, 2014 // Updated: May 2, 2019
Howard Koerth is an artist and Professor of Art at Rose State College in Midwest City. An earlier version of this post appeared as a letter in the Oklahoma Gazette. Taxes in our society operate like a pot luck dinner;… Read more [More...]

Infographic illustrates why Oklahoma should end drilling tax break

By: Gene Perry
May 7, 2014 // Updated: May 2, 2019
A new infographic from Together Oklahoma, a coalition which includes Oklahoma Policy Institute, shows why Oklahoma needs to reign in a tax break for horizontal drilling. [More...]

#revenuefail

By: David Blatt
May 5, 2014 // Updated: May 2, 2019
In mid-April, State Finance Director Preston Doerflinger sent a letter to state agency directors alerting them to “the possibility of a revenue failure declaration for Fiscal Year 2014… following unusually weak General Revenue Fund (GRF) collections in February and March.”… Read more [More...]

STATEMENT: Lawmakers should reject deal to expand industry tax break

By: Gene Perry
May 1, 2014 // Updated: May 2, 2019
Oklahoma Policy Institute released the following statement on reports that state leaders are arranging a deal with oil and gas executives to extend the horizontal drilling tax break to all wells at 2 percent for four years: Expanding this unnecessary… Read more [More...]

Oklahoma is losing millions to corporate tax shelters. Here’s what we can do about it.

By: Gene Perry
April 29, 2014 // Updated: May 2, 2019
By most measures of the economy, Oklahoma shouldn’t have a budget shortfall this year. At a time when the economy is improving nationwide and most states are debating what to do with budget surpluses, Oklahoma lawmakers are looking at creating… Read more [More...]

Curbing the Horizontal Drilling Tax Break: Resources and Information

By: David Blatt
// Updated: May 2, 2019
See also our Tax Reform information page and Budget and Taxes page for resources on other Oklahoma tax issues Reports and Fact Sheets 1-page Table on Gross Production Rates under HB 2562 and Old Law (June 2015) NEW: Fact Sheet… Read more [More...]

It’s hard to evaluate polls if one of them is secret

By: Gene Perry
April 28, 2014 // Updated: May 2, 2019
On Friday, The Oklahoman published an editorial discussing two recent polls about Oklahoma’s horizontal drilling tax breaks. A poll commissioned by OK Policy  found Oklahomans overwhelmingly favor ending the horizontal drilling tax break and using the savings to invest in… Read more [More...]

STATEMENT: Tax cut vote ignores the wishes of Oklahomans and what’s best for economy

By: Gene Perry
April 23, 2014 // Updated: May 2, 2019
Oklahoma Policy Institute released the following statement in response to the passage of SB 1246, which schedules automatic cuts to the top income tax rate: Today House members have ignored the wishes of most Oklahoma voters and the best evidence… Read more [More...]

What the horizontal drilling tax break is costing your kids’ school

By: David Blatt
April 22, 2014 // Updated: May 2, 2019
For Oklahoma’s elected officials looking to increase funding for education, the sensible solution can be found right under our feet. By doing away with what has become an increasingly unnecessary and unaffordable tax break, every school district and every school… Read more [More...]