Oklahoma
What's New
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blog
June 2, 2017Oklahoma’s Budget Signed by Governor, but Long-Run Challenges Remain
On the last day of their legislative session, Oklahoma lawmakers finalized a $6.8 billion budget bill that was later signed by Gov. Mary Fallin. In the governor's statement on the…
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blog
May 24, 2017State Rundown 5/24: Several States Scramble to Finalize Budgets
This week, Kansas lawmakers continued work on fixing the fiscal mess created by tax cuts in recent years, as legislators in Louisiana, Minnesota, Oklahoma, and West Virginia attempted to wrap…
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blog
May 18, 2017State Rundown 5/18: Tax Debate Heat Wave Hitting States
This week saw tax debates heat up in many states. Late-session discovered revenue shortfalls, for example, are creating friction in Delaware, New Jersey, and Oklahoma, while special sessions featuring tax…
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blog
May 17, 2017Investors and Corporations Would Profit from a Federal Private School Voucher Tax Credit
A new report by the Institute on Taxation and Economic Policy (ITEP) and AASA, the School Superintendents Association, details how tax subsidies that funnel money toward private schools are being… -
report
May 17, 2017Public Loss Private Gain: How School Voucher Tax Shelters Undermine Public Education
One of the most important functions of government is to maintain a high-quality public education system. In many states, however, this objective is being undermined by tax policies that redirect… -
ITEP Work in Action
May 2, 2017Oklahoma Policy Institute: Itemized Deduction Reform is a Promising State Budget Solution
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.…
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ITEP Work in Action
January 10, 2017Oklahoma Policy Institute: Private school tax subsidy blurs the line between charitable gift and money laundering
Carl Davis is Research Director at the Institute on Taxation and Economic Policy (ITEP), a non-profit, non-partisan research organization that works on federal, state, and local tax policy issues. Photo… -
ITEP Work in Action
January 10, 2017Oklahoma Policy Institute: The tax shift rears its head
Last week the Oklahoma Senate Finance Committee approved SB 977, a bill that would suspend 23 tax credits for the next two years as a way to partially address… -
ITEP Work in Action
May 13, 2016Oklahoma Policy Institute: New bill would devastate a key tax credit for Oklahoma working families
“Yesterday, a letter signed by more than 150 Oklahoma clergy was delivered to lawmakers and Governor Fallin, urging them not to slash key tax credits for working families to fix…
Related Resources
ITEP Publications about Oklahoma
Reports about Oklahoma using ITEP data
All items referencing Oklahoma
By the Numbers
| Personal Income Tax Features (2015) | |
|---|---|
| Range of Tax Rates | 0.5% - 5.25% |
| Standard Deduction |
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| Personal Exemption | $1,000 |
| Dependent Exemption | $1,000 |
| Earned Income Tax Credit (EITC) | 5% Refundable |
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| 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 |
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| Property Tax Features (2015) | |
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| 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