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Income taxes are steadily increased as a major State revenue source since 1933 when the Oklahoma Constitution was amended to prohibit State-level taxation of property. Income taxes are now the largest source of revenue for the State government, accounting for approximately 38% of total state revenue - 32% from individuals and 6% from corporations.
The Oklahoma State Board of Equalization is an agency of the state of Oklahoma that is responsible for tax administration.The Board is responsible for adjusting and equalizing the valuation of real and personal property of the several counties of Oklahoma.
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 ...
Every little bit helps when it comes to saving on taxes. Here's what to know about the homestead exemption in Oklahoma including manufactured housing.
This isn’t quite true — an analysis by The Star found 27 states (including D.C.) that don’t technically charge personal property taxes on vehicles, but 15 of them do charge other annual ...
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This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio, multiplied by a tax rate, and is generally an obligation of the owner of the property. Values are determined by local officials, and may be disputed by property owners.
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