Oklahoma Watch - Tax Breaks

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At last count, the Oklahoma tax code contained at least 480 exclusions, credits, deductions, deferrals and incentives and other special breaks. Many tax breaks are broad-based and enjoy considerable support among lawmakers, economists and tax authorities. But some are more suspect, such as “transferable” income tax credits that can be sold to other taxpayers who have nothing to do with the original intent of the incentives. “A lot of these credits are giveaways,” says House Revenue & Taxation Chairman David Dank, R-Oklahoma City. “We’ve got these high-powered lawyers who sit down here in these ivory towers and don’t do anything but think about how they can get into the public coffers.”

Oklahoma Watch: Tax Breaks Articles

Oklahoma Watch: Task force closes in on Oklahoma tax credits Updated: Fri, Nov 25, 2011 Gov. Mary Fallin's State of the State address expected to address tax credit crackdown, cutting Oklahoma income tax. Read More
Oklahoma Watch: Little-known group reviews Oklahoma tax breaks Updated: Fri, Nov 25, 2011 Lack of legislative involvement concerns members of the Oklahoma Incentive Review Committee. Two IRC members who have been on the nine-member panel since its first meeting in December 2004, said they could not recall the Oklahoma Legislature taking specific action in response to any of the 29 recommendations they... Read More
Oklahoma Watch: Plentiful exemptions complicate Oklahoma sales taxes Published: Sun, Nov 20, 2011 Buy food for your family, pay sales taxes. Buy food for your earthworm farm, no sales taxes. Buy a $9 ticket to the movies, pay sales taxes. Buy a $275 ticket to an NBA basketball game, no sales taxes. Buy a bottle of aspirin, pay sales tax. Buy a bottle of prescription OxyContin, no sales taxes. Seem... Read More
Rural-urban divide seen on Oklahoma tax credit question Updated: Sat, Oct 15, 2011 Competition between rural and urban areas is coloring the debate on use of tax credits in Oklahoma. Read More
Insurance companies receive hundreds of millions of dollars in Oklahoma tax credits since 2004 Published: Sun, Sep 25, 2011 Tax credits on insurance premiums total $430 million over last seven years Read More
Coal tax credits cost Oklahoma more than $60M in 8 years Updated: Fri, Sep 16, 2011 Figures compiled by Oklahoma Watch from several sources show that coal tax credits cost the state more than $60 million in lost tax revenue during the eight years ending June 30. The credit was suspended for two years but is scheduled to resume in 2012 Read More
Rural workers depend on jobs supported by tax credits for coal Updated: Fri, Sep 16, 2011 If the Oklahoma Legislature kills the coal credit, Shady Point power plant probably will stop buying Oklahoma ore altogether and switch to 100 percent Wyoming coal, which is cheaper. Read More
Oklahoma Watch: Transferring tax breaks raises concerns state's residents Published: Sun, Aug 28, 2011 A survey by SoonerPoll.com on behalf of Oklahoma Watch revealed most Oklahoma voters had a lack of familiarity with the 480 credits, deductions, exemptions and other incentives contained in the Oklahoma tax code. Read More
Debate on tax breaks continues Updated: Tue, Aug 16, 2011 Task force investigates energy-efficient home tax credits and reimbursing schools and counties for lost tax money Read More
State to probe legitimacy of tax credits Updated: Tue, Aug 16, 2011 Legislators want to know whether $200 million in tax breaks are serving their economic purpose or are just giveaways Read More
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