Phaseout of OK's personal income tax likely will take longer than expected

NewsOK
By Michael McNutt
Published: March 27, 2012

It likely will take longer than 10 years to eliminate the state's personal income tax, the author of one of two measures proposing to dispose of the tax said Monday.

Economic triggers will be added to two bills that call for reducing the top personal income tax rate next year and gradually phasing out the tax by 2022, said Rep. Leslie Osborn, House author of Senate Bill 1571. The triggers would require the state's economy to increase by a certain percentage for additional cuts to take place in the tax.

“We are absolutely building in triggers,” she said.

Osborn, R-Mustang, said she was working on developing the triggers' percentage rate. The higher the percentage, the longer it will likely take for the personal income tax to be eliminated... FULL ARTICLE

Posted on Tue, March 27, 2012 by John Cox

2 comments (Add your own)

1. Mylovekw wrote:: Hey i love the photos u have! I was just wonreding how much it costs for you to do family photos??? I have 2 girls one 5 months and one is 3 and myself and my husband Live in Langenburg sk. just comparing prices thanks very much and hope to hear from you soon.Missy
Sat, July 7, 2012 @ 9:45 PM
2. Alessandro wrote:: If you both were buying the new home, you would quaifly for the $6500 credit. Neither can quaifly for the First-Time Homebuyer's Credit since you have owned a home and you are married to each other.
Wed, July 18, 2012 @ 10:50 AM

Add a New Comment

Your Name:

Your Email/URL (Optional):

Your Comment:

Enter the code you see below:
code

Comment Guidelines: No HTML is allowed. Off-topic or inappropriate comments will be edited or deleted. Thanks.

Restore T.R.U.S.T.