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Last year, lawmakers did agree to cut Oklahoma's 4.5% portion of the grocery tax, which was estimated to save Oklahomans about $3.38 on an $85 grocery bill. Senate Bill 2 would address wind ...
The current State gross production tax takes the form of an excise tax, with the amount of the tax based upon the sale price of oil and natural gas. Gross Production taxes are the fourth largest source of revenue for the State government, accounting for approximately 6% of total state revenue.
The first federal gasoline tax in the United States was created on June 6, 1932, with the enactment of the Revenue Act of 1932, which taxed 1¢/gal (0.3¢/L). Since 1993, the US federal gasoline tax has been unchanged (and not adjusted for inflation of nearly 113 percent through 2023) at 18.4¢/gal (4.86¢/L).
Here's what to know about Oklahoma's grocery tax cut bill, how it will impact Oklahomans and what's next.
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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 ...
Starting Thursday, Oklahomans will see lower taxes on their grocery bills. Here's what to know about the changes.
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