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Taxes based on income are imposed at the State level, both on individuals and corporations. Oklahoma first enacted an individual income tax in 1915 and then a corporate income tax in 1931. 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 ...
State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales , income , excise taxes , and user fees . Some are levied directly from residents and others are levied indirectly.
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For FY 2011, the state government is projected to collect approximately $5 billion in tax revenue, up 8.29% versus FY2010 revenues of $4.6 billion. Primary receipt categories included: [1] Individual income taxes (1.7B or 34%) Sales taxes (1.6B or 32%) Gross production taxes (434M or 10%) Corporate income taxes (172M or 3%) Motor Vehicle taxes ...
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, and how to file if you haven't already. Taxpayers have until April 15 to file their 2023 federal and state of Oklahoma income tax returns.