State Question 766 prevents property taxation on intangible personal property, which affects the technology industry in Oklahoma and the apps and software your readers use every day. At PL Studios, we help people make movies and games. We pay our fair share of business and property taxes, but we need SQ 766 to pass. It would protect us, and other tech innovators, from potentially devastating new taxes on things like our software and training libraries, our animation tools, our technical know-how and even our name and reputation.
The prospect of taxing ideas and innovations as property could be a showstopper for tech companies looking to start in, or relocate to, Oklahoma. But it's not just about tech companies. Personal tech would also be taxed. Every Oklahoman with a smartphone could owe property taxes on every app they download, every MP3 they listen to and every picture they've taken, every year.
It's madness to think the state would tax software and apps, but the state Supreme Court ruled it could. The voters have this chance to protect themselves and our growing reputation as a tech-friendly state by voting yes on SQ 766.
Piyush Patel, Oklahoma City
Patel is founder and CEO of PL Studios, Inc.
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