May 2, 2017

Oklahoma Policy Institute: Itemized Deduction Reform is a Promising State Budget Solution

ITEP Work in Action

When Oklahomans filed their state income taxes in 2016, more than 70 percent of households used the standard deduction, which was $6,300 for individuals and $12,600 for married couples filing jointly. The remaining households itemized their deductions, adding up deductions for mortgage interest, charitable contributions, business expenses, and several other deductions allowed under federal and state tax laws.

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