Oklahoma

What's New



By the Numbers

Personal Income Tax Features (2015)
Range of Tax Rates 0.5% - 5.25%
Standard Deduction
  • $6,300 ($12,600 for Married Couples)
  • Personal Exemption $1,000
    Dependent Exemption $1,000
    Earned Income Tax Credit (EITC) 5% Refundable
  • Deduction for state income taxes paid
  • Top rate falls to 5% in 2016 and could fall to 4.85% in 2018 depending on revenue growth
  • Corporate Income Tax Features (2015)
    Range of Tax Rates Top rate falls to 5% in 2016 and could fall to 4.85% in 2018 depending on revenue growth
    Income Level at Which Top Rate Applies N/A
    Combined Reporting 6.00%
    Apportionment Factor (Payroll) All
    Apportionment Factor (Property) No
    Apportionment Factor (Sales) 33%
    Sales Tax Features (2015)
    State Sales Tax Rate 4.50%
    Average Local Sales Tax Rate 3.90%
    Average Combined State & Local Sales Tax Rate 8.40%
    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 (2007)
    Streamlined Sales Tax Membership Full
  • Sales tax holiday offered in 2014
  • Vendor Compensation available with high ceiling
  • Property Tax Features (2015)
  • Provides homestead exemption that is doubled if income is below $20,000.
  • Other Tax & Revenue Features (2015)
    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 (2010)
    Tax Policy Oversight
    Tax Expenditure Report Yes
    Tax Incidence Analysis Capability None

    Last updated January 13, 2015