State Representative: Eliminating business franchise tax would help state

 
BY STATE REP. LESLIE OSBORN | Published: March 2, 2013    Comment on this article Leave a comment

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Oklahomans deserve to keep more of their hard-earned income. A number of states, including Kansas, are aggressively seeking to reduce and eliminate one of the most damaging taxes, the personal income tax. Oklahoma is sandwiched between two states, Kansas and Texas, that have lower personal income tax rates than Oklahoma. In order to treat the work of Oklahomans fairly and to remain competitive, we must continue to lower our personal income tax.

Gov. Mary Fallin set this as a goal in her State of the State address, calling for a reduction in our top personal income tax rate from 5.25 to 5 percent. This modest and necessary reduction can be accomplished easily due to the continued growth of our economy and continued growth of state government revenues.

This legislative session can be historic if we, as policymakers, keep our focus on expanding opportunity. Eliminating the franchise tax and continuing to lower the income tax will accomplish this goal.

Osborn, R-Mustang, represents District 47 in the Oklahoma House.

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