Oklahoma lawmakers reach agreement on tax cut plan

By: Amanda Brown Email
By: Amanda Brown Email

ARDMORE, OK--A potential bill could have Oklahomans seeing a reduction in how much they pay in state income tax. After two weeks of heated debate, Thursday evening Oklahoma Lawmakers came to an agreement on a tax cut plan.

The plan calls for cutting Oklahoma's top personal income tax rate of 5.25 percent down to 4.8 percent by next year. Oklahoma Governor Mary Fallin said lowering the income taxes will help make the state appear more attractive to businesses and industries.

The new plan also simplifies the tax code by dropping the total number of tax brackets from seven to three. New rates will be set at 1 percent, 3.3 percent and 4.8 percent depending on income levels.

You must be logged in to post comments.

Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by M. McMurray on May 19, 2012 at 07:53 AM
    Great! States like Florida who take away state income taxes and "death" taxes seem to bring business into a state! People are fed up with taxes and fees! Yes "fees" might as well be called taxes! On the other hand we are blessed to live where we do!
Sherman 4201 Texoma Pkwy (903) 892 -8123 Ardmore 2624 S. Commerce (580) 223-0946
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 152101115 - kxii.com/a?a=152101115
Gray Television, Inc.