Tax Cut

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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State Capitol
1:27 pm
Wed April 23, 2014

State Income Tax Cuts Headed To Governor Fallin's Desk

Credit 401(K) 2013 / Flickr Creative Commons

Legislation that would trim Oklahoma's personal income tax rate when state revenue increases has been approved by the state House.

House members voted 54-40 for the Senate-passed measure that is one of Republican Gov. Mary Fallin's top goals for the 2014 Legislature. It now goes to Fallin to be signed into law.

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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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Oklahoma Voices
11:35 am
Mon February 17, 2014

VIDEO: Capitol Reporters Discuss Start Of 2014 Oklahoma Legislative Session

Left-to-right: OETA's Dick Pryor, KGOU News Director Kurt Gwartney, eCapitol News Director Shawn Ashley, KOSU Radio's Michael Cross, Sean Murphy from the Associated Press.
Credit OETA - The Oklahoma Network

The 2014 Oklahoma legislative session kicked off two weeks ago Monday, with an income tax cut, reduced agency budgets, repairing the state Capitol, and employee compensation all facing lawmakers as they return to NE 23rd Street and Lincoln Blvd. in Oklahoma City.

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Tax Cuts
2:17 pm
Thu February 6, 2014

Oklahoma City Republican Proposes Drilling Tax Fix

Credit Meredithw / Flickr Creative Commons

A Republican House member from Oklahoma City is proposing an adjustment to the state's tax on oil and natural gas production that would benefit companies that hire Oklahoma workers.

Rep. David Dank proposed a compromise on Thursday that would set the gross production tax rate for all oil and gas wells between 2 percent and 6 percent, depending on how many full-time workers each producer employs in Oklahoma.

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Energy
12:25 pm
Mon January 27, 2014

Oil And Gas Tax Breaks Leaving Millions On The Table In Oklahoma

An oil rig in Edmond, Okla.
Credit Kool Cats Photography / Flickr Creative Commons

It's not looking good for Oklahoma's budget.

State leaders expect a $170 million shortfall. This year's budget was just half a percent larger than five years ago, without adjusting for inflation. And projections estimate a deficit of up to $2 billion by 2035.

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Tax Cuts
8:41 am
Mon January 20, 2014

Experts Disagree With Movement To Cut Oklahoma Income Taxes

Credit 401(K) 2013 / Flickr Creative Commons

Cutting income taxes. The state's been here before, and quite recently.

"The [Oklahoma] Supreme Court threw the legislature a lifeline by striking down 2032," said Oklahoma Policy Institute Director David Blatt at the organization's budget summit last week. 

As passed, House Bill 2032 would have cut the state income tax to 5 percent in 2015 and 4.85 percent after that. The state Supreme Court threw it out in December because it also provided money for capitol repairs.

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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
1:27 pm
Tue July 9, 2013

Attorney Maintains Tax Cut Bill Is Unconstitutional

Credit Serge Melki / Flickr Creative Commons

An attorney with a long track record of successfully challenging legislative actions as unconstitutional is taking aim at a bill to cut the state's income tax and fund repairs to the crumbling Capitol. 

Oral arguments were held Tuesday before a referee for the Oklahoma Supreme Court.

Attorney Jerry Fent claims the bill is unconstitutional because it violates a provision of the state Constitution that requires bills to embrace only one subject.

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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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