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The State levies a gross production tax on the removal of natural products from Oklahoma's land or water. The gross production tax was established in 1910 to tax the extraction of natural gas and oil. With the elimination of State-level property taxation, the gross production tax began an important source of State revenue.
The Oklahoma Tax Commission (OTC) is the Oklahoma state government agency that collects taxes and enforces the taxation and revenue laws of the state. The Commission is composed of three members appointed by the Governor of Oklahoma and confirmed by the Oklahoma Senate. The Commissioners are charged with oversight of the agency but appoint an ...
The Board is responsible for providing an estimate of all revenue that will be available for appropriation by the Oklahoma Legislature for the coming year fiscal year. The Governor, through the Oklahoma Office of State Finance, then uses that estimate to prepare and submit the State's annual budget for approval by the Legislature.
The exemptions illustrate how tricky it’s been for pension funds to navigate the Oklahoma Energy Discrimination Elimination Act. Oklahoma treasurer criticizes pension system for taking exemption ...
Oklahoma state law allows for cabinet secretaries to serve concurrently as the head of a state agency and as a cabinet secretary. Historically, the Secretary of Finance has also served as the director of the Oklahoma Office of State Finance. As of 2013, at least two secretaries have served in that dual position.
The treasurer provides for the safe and efficient operation of state government through effective banking, investment, and cash management. The state treasurer has the powers of a typical chief financial officer for a corporation. [1] The State Treasurer of Oklahoma is Todd Russ, who was elected as State Treasurer in the 2022 election.
Oklahoma Treasurer Todd Russ added global bank Barclays to his list of financial firms thought to be discriminating against the oil and gas industry just weeks after it led the sale of $230 ...
This is an incomplete list of Oklahoma state agencies. The state agencies make up the machinery of government for the state. All agencies are within one of the three branches of the government of Oklahoma .