Tag: Taxes

Damaged property may get a county property tax reduction

June 27, 2019

Tulsa County Assessor John A. Wright is reaching out to property owners who have sustained property damage as a result of the flooding and tornados that recently hit Tulsa County. Oklahoma statute, O.S. 68 § 2817, allows for property (both real and business personal property) which suffers a sustained and extended functional loss from storm…

Stormy May weather doesn’t slow state revenue growth

June 20, 2019

2018’s historic tax hike is helping set revenue records Despite the recent bad weather, state revenues rose again in May by more than 10 percent – a record high – from May of 2018, according to State Treasurer Randy McDaniel. May revenues totaled $1.1 billion, up $102.7 million, or 10.6 percent, from May 2018. Individual…

Editorial: Mexican tariffs are the right move

June 13, 2019

President Andres Manuel López Obrador was mad that President Trump was threatening to impose a set of tariffs on Mexican goods because of that country’s lack of cooperation in stopping the illegal immigration crisis at our southern border. The threat worked. President Trump’s decisiveness caused that leftist leader to finally do something to end this…

State income tax collections set another record in April

May 23, 2019

Oklahoma set another record for tax collections in April – including $693,500,000.00 in individual income taxes, which is an increase of $106,900,000.00 (up 18.2 percent) from April of 2018. Gross production taxes on oil and natural gas brought in $79,800,000.00 in April, an increase of $19.2 million, or 31.6 percent, from last April. But compared…

Tax exemption for American Legion

May 16, 2019

Gov. Kevin Stitt signed a bill that will exempt the American Legion Department of Oklahoma from sales tax. House Majority Leader Mike Sanders, R-Kingfisher, and Sen. Roger Thompson, R-Okemah, are authors of House Bill 1003. The measure previously passed unanimously in the House and Senate. “The American Legion is our state’s largest veterans’ organization, serving…

Tax break for foster families

May 9, 2019

Oklahoma’s more than 4,100 foster families will soon get some financial relief following the signing of Senate Bill 893. Sen. Paul Scott, R-Duncan, and Rep. Rande Worthen, R-Lawton, authored the bill, which will provide a $5,000 state income tax exemption for anyone contracting with a child-placing agency for taxable years beginning on or after January…

Editorial: Democrat hopefuls’ proposals

May 9, 2019

Here are some of the plans of the mainstream candidates running for the Socialist Democrat nomination for president. Forgive all student debt. Make tuition free for all state-supported colleges and universities. Give poor people a monthly allowance. Place a 2 percent wealth tax on anyone worth more than $10 million. Let 16-year-olds vote. Impeach President…

Lankford: End stadium tax subidies

May 9, 2019

WASHINGTON, DC – Senators James Lankford, R-Oklahoma, introduced the Eliminating Federal Tax Subsidies for Stadiums Act, a bill to end generous federal subsidies for professional sports stadiums. The bill would close a loophole in the tax code that allows professional sports teams to finance new stadiums with municipal bonds that are exempt from federal taxes….

Editorial: Phony town halls to boost taxes

May 2, 2019

Tulsa’s elected officials are gearing up for a gigantic sales tax increase in November. Powerful business people and the chamber overlords are employing the liberal daily newspaper and local TV stations to sell the public on the idea that we need to raise tens of millions of dollars in sales tax to pay for their…

State receipts skyrocket again

April 18, 2019

Monthly revenues have soared for state government for every month since March of 2017 and that trend continued in March of 2016, according to State Treasurer Randy McDaniel. March receipts of $1.1 billion are 10.3 percent higher than collections from the same month of last year. Receipts from the past 12 months, at $13.3 billion,…