OKLAHOMA CITY (AP) - The Oklahoma Senate has approved a plan to reduce the state's top personal income tax rate by one-half of 1 percent and offset most of the lost revenue by eliminating or changing dozens of exemptions in the tax code.
The Senate voted 33-13 on Monday for the bill by Tulsa Republican Sen. Mike Mazzei. The vote was mostly along party lines, with Republicans favoring the measure.
Mazzei's bill would slash the top personal income tax rate from 5.25 percent to 4.75 percent, beginning Jan. 1, 2015. The bill also eliminates more than two dozen tax exemptions for businesses and individuals. The overall fiscal impact of the bill is estimated to be about $109 million less for the state when fully implemented.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Posted: 06/17/2013 - ARDMORE, Okla. —The Samuel Roberts Noble Foundation announced the 2013-2014 recipients of the Sam Noble Scholarships this week, awarding $140,000 in scholarships to 10 southern Oklahoma students.
Posted: 06/13/2013 - DURANT, Okla. -- Southeastern Oklahoma State University has scheduled Camp SE for June 23-24, July 21-22 and July 28-29 on campus.
Updated: 06/10/2013 - (LEONARD,TEXAS) -- Leonard residents are worried that piles of tires sitting at a vacant service shop are attracting mosquitoes and endagering their health
