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Income taxes are steadily increased as a major State revenue source since 1933 when the Oklahoma Constitution was amended to prohibit State-level taxation of property. Income taxes are now the largest source of revenue for the State government, accounting for approximately 38% of total state revenue - 32% from individuals and 6% from corporations.
Approximately $10 billion is deposited each year at the state treasurer's office into the Oklahoma State Treasury. This includes state tax revenues, such as income tax and gross production tax receipts; federal funds, such as matching funds for highway construction; and other tax revenues, such as the motor fuel tax, which are collected by the ...
On December 1 of each year, or the first working day thereafter, the Board must equalize the taxable real and personal property value of the several counties for the purpose of tax assessment by the county assessors. This is done by determining the ratio of the aggregate assessed value of the county to the fair cash value of the county.
Tax returns for federal and Oklahoma state income taxes are due April 15. To file for an extension, taxpayers can fill out Form 4868 by April 15, giving you six more months to complete your tax ...
Here's how long it takes to get your Oklahoma tax refund. Tax season is fully upon us, and millions have already filed their 2023 taxes. ... How to file Oklahoma 2023 taxes. Oklahoma state income ...
The Oklahoma Turnpike Authority will be doing land-office business when 28 parcels of property alongside seven of the state's 10 toll roads are sold at auction in Oklahoma City.. The auction will ...
The Oklahoma Tax Commission (OTC) is the Oklahoma state government agency that collects taxes and enforces the taxation and revenue laws of the state. The Commission is composed of three members appointed by the Governor of Oklahoma and confirmed by the Oklahoma Senate. The Commissioners are charged with oversight of the agency but appoint an ...
In 2016, for the third consecutive year, Bexar County increased the appraised value of businesses and residences. Most will hence find their property taxes will increase for the year, with higher payments for some beginning as early as November 1. The latest 7.5 percent increase in valuation follows an 11 percent rise in 2015, and a 7 percent ...