income tax

State Capitol
1:12 pm
Thu May 22, 2014

Here We Go Again...New Lawsuit Challenges Oklahoma Income Tax Cut

Gov. Mary Fallin
Credit Joe Wertz / StateImpact Oklahoma

A lawsuit claims income tax cut legislation approved by the Oklahoma Legislature and signed into law by Gov. Mary Fallin is unconstitutional.

The lawsuit was filed Thursday by Oklahoma City attorney Jerry Fent, who has successfully challenged legislation in the past. It asks the state Supreme Court to declare the tax cut unconstitutional and block it.

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Cuts depend on revenue triggers
6:24 pm
Mon April 28, 2014

Fallin Signs Income Tax Cut Measures Into Law

Credit Brian Hardzinski / KGOU

Oklahoma Gov. Mary Fallin has signed an income tax cut measure into law.  

It will gradually lower Oklahoma's top income tax rate from 5.25 percent to 4.85 percent over several years. The cuts are dependent upon revenue triggers, meaning Oklahoma's general revenue collections must increase before cuts take effect. The earliest they could take effect is in 2016.

Fallin signed the measure Monday. It's one of her top goals for the 2014 Legislature.

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State Capitol
1:47 pm
Tue April 1, 2014

Personal, Corporate Income Tax Cuts Pass Oklahoma Senate Panel

Credit 401(K) 2013 / Flickr Creative Commons

A plan to cut Oklahoma's corporate and individual income tax rates once certain revenue triggers are reached has passed a Senate committee.

The Senate Finance Committee voted 8-2 on Tuesday for the House bill by Bartlesville Republican Rep. Earl Sears.

The House and Senate each have separate proposals to reduce the state's individual income tax rate from 5.25 percent to 5 percent, once certain revenue triggers are reached.

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Tax cuts for individual & corporate taxes
6:17 pm
Thu March 6, 2014

Oklahoma House Votes For Reduction To Income Tax

Credit LendingMemo / Flickr.com

A plan to cut both Oklahoma's corporate and individual income tax rates has cleared the Oklahoma House over the objections of Democrats who contend the resulting loss of revenue will decimate critical state services like education, public safety and health care.

The House voted 57-34 Thursday for the bill that includes triggers for both cuts that would require certain revenue collections to grow by enough to offset the lost revenue to the state. Bartlesville Republican Rep. Earl Sears described it as a "modest income tax reduction."

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State Capitol
12:19 pm
Thu February 27, 2014

Senate Approves Quarter Percent Oklahoma Income Tax Cut

The Senate passed a bill by Senate President Pro Tem Brian Bingman (R-Sapulpa) that would lower Oklahoma's income tax rate to below 5 percent if the state’s economy continues to improve.
Credit Oklahoma Senate

KGOU's Kurt Gwartney reports Senate Democrats focused their questions about the tax cut bill on the lack of funding for core state services like education and public safety.

The state Senate approved a bill Thursday morning that would cut the Oklahoma income tax rate a quarter of a percent down to five. The bill passed on a 32-10 margin, with mostly Democrats opposing it.

Minority leader Sean Burrage (D-Claremore) argued nearly 40 percent of residents won't see any tax break, and would rather have the state pay for good schools, rather than receive less than $100 back on their income taxes. 

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Could Cut State Revenue By $125 Million
6:19 pm
Fri January 17, 2014

Bills Filed To Lower Personal Income Tax Rate

Credit 201(k) 2013 / Flickr.com

A group of House and Senate Republicans have introduced a plan to deeply slash Oklahoma's top personal income tax rate over the next four years.

Bills filed this week in the House and Senate would slash the rate from 5.25 percent to 4.75 percent in January, with additional cuts of one quarter of 1 percent each year until the rate reaches 4 percent in 2018. Each quarter-percent cut costs the state about $125 million in revenue annually, but supporters say the cuts will ultimately lead to increased revenues.

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State Capitol
11:33 am
Tue December 17, 2013

Oklahoma Supreme Court Shoots Down Income Tax Cut

Gov. Mary Fallin, Senate President Pro Tem Brian Bingman (R-Sapulpa), and House Speaker T.W. Shannon (R-Lawton) announce their tax cut proposal in the Blue Room of the State Capitol - April 23, 2013.
Credit Kurt Gwartney / KGOU

The Oklahoma Supreme Court has ruled that a bill passed last session to cut the state's personal income tax and provide $120 million for repairs to the Capitol is unconstitutional.

In a unanimous decision released Tuesday, the court ruled the bill violated the state constitution's ban on logrolling, or including multiple subjects in a single bill.

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Politics and Government
11:09 am
Mon July 1, 2013

Tax Cut And Capitol Repair Bills Take Effect

Credit ensign_beedrill / Flickr Creative Commons

More than 70 bills take effect Monday, including legislation that will ultimately provide for a 2015 Oklahoma income tax reduction and fund repairs to the State Capitol.

ECapitol’s Shawn Ashley reports the bill apportions $60 million to the fund in fiscal year 2014 and FY2015.

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Tax Cut Proposal
10:18 am
Wed April 24, 2013

Okla. GOP Leaders Agree on Tax Cuts for 2015

Gov. Mary Fallin, Senate President Pro Tem Brian Bingman (R-Sapulpa), and House Speaker T.W. Shannon (R-Lawton) announce their tax cut proposal in the Blue Room of the State Capitol - April 23, 2013
Credit Kurt Gwartney / KGOU

The Republican leaders at the State Capitol gathered in the Blue Room Tuesday to announce what they’re calling major agreements on several key proposals before lawmakers this session.

Gov. Mary Fallin, Senate President Pro Tem Brian Bingman (R-Sapulpa) and House Speaker T.W. Shannon (R-Lawton) each took turns describing the plan to cut state income taxes, change the workers’ compensation system and repair the State Capitol.

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State Capitol
1:52 pm
Tue April 2, 2013

Another Income Tax Cut Bill Stalls

Sen. Mike Mazzei (R-Tulsa)
Credit Oklahoma Senate

The chairman of the Senate Finance Committee has stalled a leadership-backed bill to cut the state's income tax and then declined to explain why the bill has been laid over.

The decision Tuesday by Tulsa Republican Sen. Mike Mazzei comes one day after a separate income tax proposal Mazzei sponsored was soundly rejected by a House committee.

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