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All Posts Tagged Tag: ‘reduction’

Jolley income tax-elimination bill clears House subcommittee (access required)

A measure by Sen. Clark Jolley, R-Edmond, that would eliminate the Oklahoma personal income tax by 2022 passed out of the House Revenue and Taxation Subcommittee Monday, clearing another hurdle as it and other income tax-cut bills are moved along through the process. An income tax reduction is one component of a three-legged stool that also includes eliminating some tax …

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Miller: Drop in natural gas tax collections may mandate revenue certification change (access required)

Overall state gross receipts rose for the 23rd straight month in January, except for a category that makes up 10 percent of the state budget—the gross production tax on oil and natural gas, a key driver of the state’s economy. State Treasurer Ken Miller said Thursday that gross production tax collections in January dropped by 7.4 percent over the same …

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