Gov. Kevin Stitt issued an executive order Monday, calling upon the Oklahoma State Legislature to go into special session to implement a tax cut and a "tax fairness" trigger law.
The Oklahoma Tax Commission is giving taxpayers an important notice concerning filing franchise taxes one last time after the tax officially ended in Oklahoma.
Oklahoma's General Revenue Fund collections for fiscal year 2023 surpassed expectations by an extremely large margin, and the Rainy Day Fund is at a record high, according to Gov. Kevin Stitt's office.
Oklahoma's gross receipts to the State Treasury tapered off in May due to a decline in energy prices.
House Bill 1039X, which contained the measure to eliminate the franchise tax, automatically became law Friday, five business days after it fully cleared the Oklahoma State Legislature.
A bill that in part eliminates Oklahoma's franchise tax is on its way to Gov. Kevin Stitt's desk for final approval.
Oklahoma continues to languish in the bottom half of the State Business Tax Climate Index's individual income tax competitiveness rankings.
The Oklahoma Senate Finance Committee met Monday and passed several bills that are crucial to reshaping Oklahoma's tax system.
U.S. Senator James Lankford introduced legislation Thursday to make permanent a 2017 Tax Cuts and Jobs Act (TCJA) provision that allows businesses to fully expense new investments in the year of purchase.
A bill that allows Oklahomans to pay their ad valorem taxes in numerous installment prepayments passed the Oklahoma House of Representatives.
