Impact of proposed Oklahoma tax cut examined

Gov. Mary Fallin's proposed 0.25 percent state income tax cut for the highest bracket would put about $136 million a year back in the hands of taxpayers once fully implemented, according to the Oklahoma Tax Commission.
by Randy Ellis Published: February 7, 2014
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Impact of Fallin's proposed tax cut is examined

Gov. Mary Fallin's proposed 0.25 percent state income tax cut for the state's highest income tax bracket would put about $136 million a year back in the hands of taxpayers once fully implemented, according to the Oklahoma Tax Commission.

The following table shows the average tax cut benefits Oklahomans reporting varying levels of adjusted gross incomes would expect to receive if the governor's proposal is enacted.

Adjusted gross income of $0 to $15,999, no money back.

Adjusted gross income of $16,000 to $33,999, from $1 to $19 back.

Adjusted gross income of $34,000 to $59,999, from $22 to $59 back.

Adjusted gross income of $60,000 to $99,999, from $70 to $108 back.

Adjusted gross income of $100,000 to $999,999, from $160 to $718 back.

Adjusted gross income of $1 million or more, $1,377 back.

Randy Ellis, Capitol Bureau

by Randy Ellis
Capitol Bureau Reporter
For the past 30 years, staff writer Randy Ellis has exposed public corruption and government mismanagement in news articles. Ellis has investigated problems in Oklahoma's higher education institutions and wrote stories that ultimately led to two...
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