state questions

11:00 am
Thu April 4, 2013

Tax Break for Big Corporations Could Mean Even Less Money for Oklahoma Schools

Lead in text: 
State Question 766 passed in November 2012, and eliminated the tax on intangible property: business licenses, trade secrets, company logos, things with value beyond their physical traits. Five months later, a new estimate predicts the impact could be double that, and administrators are wondering what it means for their districts.
  • Source: Npr
  • | Via: StateImpact Oklahoma
State Question 766 passed in November 2012, and eliminated the tax on intangible property: business licenses, trade secrets, company logos, things with value beyond their physical traits. Before the election, the state Tax Commission estimated 766 would mean revenue losses of around $30 million for Oklahoma public schools.