A recent OK Policy fact sheet that analyzed the distribution of benefits from cutting the state’s top personal income tax rate from 5.5 to 5.25 percent has generated considerable interest and discussion. The tax cut would have a $120 million…
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A new fact sheet from Oklahoma Policy Institute looks at Oklahoma’s gross production tax and takes a specific look at the tax exemptions that are offered for different forms of oil and gas production. Over the past seven years, producers…
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Yesterday, State Finance Director Preston Doerflinger announced state General Revenue (GR) collections for February. The news was generally positive. February’s collections came in 12.0 percent higher than one year ago; this was the eleventh straight month that monthly GR collections…
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By:
Gene Perry
March 10, 2011 // Updated: May 2, 2019
When we discuss government budgets, direct spending receives the most attention by far. Less noticed is the substantial expenditure on tax credits and incentives, what some have called the “submerged state.”
That inattention may have allowed several unconstitutional measures to…
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Once again this session, property tax cuts are on the table in Oklahoma. Although curtailing Oklahoma’s already low property taxes with additional freezes and caps may sound appealing, a better approach would target help to people who need it without…
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Unless the legislature acts to stop it, another state income tax cut will take effect January 1, 2012. When the cut is fully phased-in, revenues will be reduced by $120 million. An Oklahoma Policy Institute fact sheet shows that the…
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[UPDATE: You can download ITEP’s analysis here.]
Yesterday the Senate voted to abolish the state income tax after Sen. Tom Adelson (D-Tulsa) introduced the measure as an amendment to another bill. With public services heavily dependent on income tax and…
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When the Board of Equalization met last week and certified more revenue for the upcoming fiscal year, there was one word on everyone’s mind: Oil. Of the total $106 million increase in the February estimate compared to the Board’s initial…
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The state appropriated budget in relation to the size of the state’s economy has been in long-term decline and this decline has accelerated sharply in recent years. 2011 marks the lowest percentage of state appropriated spending as a share of…
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By:
Kate Richey
February 23, 2011 // Updated: May 1, 2019
The State Board of Equalization met yesterday to certify revised revenue estimates and appropriations authority for the upcoming year’s budget. Not yawning yet? Then do we have a 6-minute video blog post for you!
For the full Board of Equalization…
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