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