Tag: Taxes

Tax credits for teachers

March 21, 2019

The House of Representatives unanimously passed a measure that would provide Oklahoma school teachers some financial relief when they spend money out of pocket for their classrooms. House Bill 2502, by House Speaker Charles McCall, would provide a $1,000 tax credit that teachers can claim for classroom expenditures and fees associated with the teacher certification…

State revenues climb in Feb.

March 21, 2019

The price of oil and gas dipped but total revenue for the state government in February showed growth – a trend that has stretched back for the past 23 months. State Treasurer Randy McDaniel said February receipts of $971.5 million are 10.7 percent higher than collections from the same month of last year. “Oklahoma’s economic…

Aquarium sales tax bill

March 14, 2019

State Rep. Lonnie Sims, R-Jenks, said the House has passed HB1005, a bill he says aligns aquariums with the exemption already granted to zoos and museums. “House Bill 1005 ensures a level playing field with other educational and cultural venues already exempted from state sales taxes on admission tickets,” Sims said. “Our state’s aquariums would…

Oklahoma ranks in the middle in a study of property tax

March 14, 2019

Oklahoma is ranked No. 24 on the list of low property taxes, according to the 2019 Property Tax report by Wallet.hub.com. Yet Oklahoma has the fourth lowest median home value at $125,800, only above Arkansas ($118,500), West Virginia ($111,600) and Mississippi ($109,300). Hawaii has the highest median home value at $563,900. According to WalletHub, each…

$574.4 million budget surplus

February 28, 2019

The Board of Equalization, chaired by Gov. J. Kevin Stitt, certified $8,249,071,274 in revenues for FY 2020 appropriations, which is $574.5 million, or 7.5 percent, more than was appropriated for FY 2019. This amount is $37.8 million, or 0.5 percent, less than the December estimate. The state treasurer reported that at the end of January,…

Editorial: A key to attracting new business

February 28, 2019

Thousands of people and businesses are leaving New York State and relocating to Florida. Likewise, tens of thousands of businesses and residents are exiting California for Texas. Why? The answer is simple. People and businesses are tired of the confiscatory tax rates in New York, California, Connecticut, Illinois and several other “progressive” states and are…

Dems want higher taxes

February 14, 2019

Senate Democrat Leader Kay Floyd, D-Oklahoma City, and House Minority Leader Emily Virgin, D-Norman, introduced a plan they have labeled a “Brand New State.” It promotes expansion in state government in public education, healthcare and other areas. “The agenda we introduced today is a collaboration between House and Senate Democrats,” Floyd said. Democrats have filed…

Collecting delinquent taxes

February 14, 2019

The Oklahoma Tax Commission (OTC) has assessed nearly $40 million on out-of-state delinquent tax debtors since November 2017, state Rep. Kyle Hilbert said. Rep. Hilbert and state Sen. James Leewright authored House Bill 1427 in 2017, which created the OTC’s Out-of-State Compliance Division for the purpose of collecting unpaid taxes owed to Oklahoma by remote…

Tax revenues grow – again

February 14, 2019

Oklahoma monthly tax revenues, while continuing to grow, are beginning to reflect the economic impact of lower energy prices, State Treasurer Randy McDaniel announced today. Gross production taxes on crude oil and natural gas in January are from oil field production during November, when crude oil prices fell throughout the month. Those receipts, at just…

Editorial: More tax to benefit Downtown

February 14, 2019

Mayor G.T. Bynum and the Tulsa City Council can raise taxes or fees without any measurable response from the public. A recent example is the raising of the hotel tax by 3 percent for hotels with more than 110 rooms. There seems to be two criteria for these tax increases: they have to be approved…