Oklahoma
By the Numbers

Oklahoma Below is a snapshot of key features of Oklahoma's tax system. (Scroll Down)
Personal Income Tax Features (2015)
  • Range of Tax Rates: 0.5% - 5.25%
  • Standard Deduction: $6,300 ($12,600 for Married Couples)
  • Personal Exemption: $1,000
  • Dependent Exemption: $1,000
  • Earned Income Tax Credit (EITC): 5% Refundable
  • Deduction for state income taxes paid
  • Top rate falls to 5% in 2016 and could fall to 4.85% in 2018 depending on revenue growth
Corporate Income Tax Features (2015)
  • Range of Tax Rates: 6.00%
  • Income Level at Which Top Rate Applies: All
  • Combined Reporting: No
  • Apportionment Factor (Payroll): 33%
  • Apportionment Factor (Property): 33%
  • Apportionment Factor (Sales): 33%
Sales Tax Features (2015)
  • State Sales Tax Rate: 4.50%
  • Average Local Sales Tax Rate: 3.90%
  • Average Combined State & Local Sales Tax Rate: 8.40%
  • State Sales Tax Treatment of Groceries: Taxed at regular rate, but offsetting credit/rebate is available
  • Local Sales Tax Treatment of Groceries: Taxed
  • Number of Services Taxed: 32 out of 168 surveyed (2007)
  • Streamlined Sales Tax Membership: Full
  • Sales tax holiday offered in 2014
  • Vendor Compensation available with high ceiling
Property Tax Features (2015)
  • Provides homestead exemption that is doubled if income is below $20,000.
Other Tax & Revenue Features (2015)
  • Gasoline Tax Rate (per gallon): $0.17
  • Diesel Tax Rate (per gallon): $0.14
  • Cigarette Tax Rate (per pack): $1.03
  • Estate or Inheritance Tax: No
  • Net Lottery Sales Per Capita: $57 (2010)
Tax Policy Oversight
  • Tax Expenditure Report: Yes
  • Tax Incidence Analysis Capability: None

Last Updated January 13, 2015

Sources & Glossary