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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 estate tax is part of the federal unified gift and estate tax in the United States. The other part of the system, the gift tax, applies to transfers of property during a person's life. In addition to the federal government, 12 states tax the estate of the deceased.
The Board is responsible for determine the assessment ratio for all air carrier, railroad, and public service corporation property in the state. 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 .
Here's how long it takes to get your Oklahoma tax refund, and how to file if you haven't already. Taxpayers have until April 15 to file their 2023 federal and state of Oklahoma income tax returns.
Tax returns for federal and Oklahoma state income taxes are due April 15. To file for an extension, taxpayers can fill out Form 4868 by April 15, giving you six more months to complete your tax ...
In public policy, a sunset provision or sunset clause is a measure within a statute, regulation or other law that provides for the law to cease to be effective after a specified date, unless further legislative action is taken to extend it. Unlike most laws that remain in force indefinitely unless they are amended or repealed, sunset provisions ...
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