Oklahoma Reports & Information

NEWS & MEDIA

The Latest News from CTJ's Tax Justice Blog

• Oklahoma Poised to Implement Tax Cut Voters Don't Want - 05/2013
• Oklahoma Governor & Leadership Reach Regressive Tax Deal - 04/2013
• State News Quick Hits: Clergy Oppose Jindal Plan, Chamber of Commerce Supports Fallin Plan, & More - 03/2013



ITEP in the News

• Pryor Creek Times: Income tax reduction done deal - 05/2013
• ABC News 2: Institute says quarter percent income tax cut would save most Oklahoma residents about $39 a year - 04/2013
• Tulsa World: Fallin Hopes to KISS tax issue goodbye - 02/2013
• Public Radio Tulsa: Two Reports Detail Low Savings Rate, Higher Tax Burden for Poor Oklahomans - 02/2013
• The Oklahoman: Citizens for Tax Justice working for fair and sustainable tax system - 06/2012



ITEP Numbers and Reports

• Oklahoma Policy Institute: Speak out against irresponsible tax cuts - 04/2013
• Oklahoma Policy Institute: What's unaffordable? - 02/2013
• Oklahoma Policy Institute: Governor Fallin's tax cut would do little to nothing for the average Oklahoman - 02/2013
• Who Pays? (Fourth Edition) - 01/2013
• Oklahoma Policy Institute: The "Tax Cut" Bait and Switch - 04/2012






RESOURCES




State Tax & Revenue Information

• Oklahoma Tax Commission
• Oklahoma Office of State Finance - Budget Division



Tax Expenditure Reports

• State of Oklahoma Tax Expenditure Report



State Statutes & Legislation

• Oklahoma Legislature



State Tax Forms

• Oklahoma Income Tax Forms
• Oklahoma Business Tax Forms
• Oklahoma Property Tax Forms





ORGANIZATIONS



• Oklahoma Policy Institute

Oklahoma
By the Numbers

Below is a snapshot of key features of Oklahoma's tax system. (Scroll Down) State & Local Revenue (FY10) General Revenue, Own-Source (GROS): $18.9 billion General Revenue as a Share of Income: 14.5% Tax Revenue: $11.4 billion Tax Revenue as Share of income: 8.8% Personal Income Tax (Share of Tax Revenue): 19.5% (33 out of 51) Corporate Income Tax (Share of Tax Revenue): 1.9 % ( 40 out of 51) Sales & Excise Tax (Share of Tax Revenue): 41.9 % ( 14 out of 51) Property Tax (Share of Tax Revenue): 21.1 % ( 45 out of 51) Other Taxes (Share of Tax Revenue): 10.5 % (9 out of 51) Personal Income Tax Features (2012) Range of Tax Rates: 0.5% - 5.25% Standard Deduction: $5,950 ($11,900 for Married Couples) Personal Exemption: $1,000 Dependent Exemption: $1,000 Earned Income Tax Credit (EITC): 5% Refundable Deduction for state income taxes paid Corporate Income Tax Features (2012) Range of Tax Rates: 6.00% Income Level at Which Top Rate Applies: All Combined Reporting: No Apportionment Factor (Payroll): 33% Apportionment Factor (Property): 33% Apportionment Factor (Sales): 33% Sales Tax Features (2012) State Sales Tax Rate: 4.50% Average Local Sales Tax Rate: 3.85% Average Combined State & Local Sales Tax Rate: 8.35% State Sales Tax Treatment of Groceries: Taxed at regular rate, but offsetting credit/rebate is available Local Sales Tax Treatment of Groceries: Taxed Number of Services Taxed: 32 out of 168 surveyed Streamlined Sales Tax Membership: Full Sales tax holiday offered in 2012 Vendor Compensation available with high ceiling Property Tax Features (2012) Provides homestead exemption that is doubled if income is below $20,000. Other Tax & Revenue Features (2012) Gasoline Tax Rate (per gallon): $0.17 Diesel Tax Rate (per gallon): $0.14 Cigarette Tax Rate (per pack): $1.03 Estate or Inheritance Tax: No Net Lottery Sales Per Capita: $57 Tax Policy Oversight Tax Expenditure Report: Yes Tax Incidence Analysis Capability: None Last Updated October 4, 2012 Sources & Glossary