Oklahoma budget agreement doesn’t address court ruling on capital-gains tax deduction

Legislative budget leaders say it’s too speculative to set aside funds to deal with a possible adverse ruling that a capital-gains tax deduction for Oklahoma-based companies is unconstitutional.

BY MICHAEL MCNUTT Published: May 6, 2013
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The $7.1 billion budget agreement reached last week does not include setting aside nearly $500 million for a worst-case scenario if the courts uphold a court ruling earlier this year that a capital-gains tax deduction for Oklahoma-based companies is unconstitutional.

“We’re not basing...

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