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Proposals floated for revenue are sinking fast in Oklahoma Legislature

Proposals floated for revenue are sinking fast in Oklahoma Legislature

NewsOK

BY MICHAEL MCNUTT,  Published: April 4, 2010

Ideas suggested by the governor to generate more money for the state so far haven’t been met with enthusiasm.

Gov. Brad Henry has proposed about $725 million in revenue enhancements, which include refinancing bond issues at today’s lower rate, possibly saving tens of millions of dollars; eliminating and suspending tax credits; and taxing more Internet sales made in Oklahoma.

House Speaker Chris Benge, R-Tulsa, has said the Internet tax proposal is a tax increase.

Henry suggested a system to collect sales taxes on Internet sales not currently being collected. Out-of-state businesses without a store or building in the state are not collecting sales taxes on sales made over the Internet, telephone or via mail order. It’s estimated the state is losing about $95 million annually without those sales tax collections... FULL ARTICLE

 

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