taxes

Gov. Kevin Stitt signed a bill eliminating the state’s portion of the grocery tax into law Wednesday. Questions around the likelihood of a state income tax cut being next remain.

The Oklahoma Senate has paved the way for a cut to the state's portion of grocery taxes to become law.

Gov. Kevin Stitt says he is considering calling lawmakers into another special session on tax cuts early next year.

The Oklahoma Tax Commission’s rules for the state’s new Parental Choice Tax Credit advanced to the governor’s desk Tuesday after the required public comment period ended.

In an effort to reach zero carbon emissions by 2050, the Biden administration is offering more tax credits for carbon capture sequestration and utilization. The program once expected to cost $3.2 billion now could exceed $100 billion.

Oklahoma House Republicans bypassed standard legislative procedure to advance Governor Kevin Stitt’s education plan. The last-minute change ties teacher raises to tax credits for private and homeschool families.

Democratic Gov. Laura Kelly survived override attempts on several high-profile bills, even as Republicans pushed to reverse her vetoes on other legislation.

Democratic Gov. Laura Kelly vetoed a plan for hundreds of millions of dollars in tax relief over her objection to a dramatic shift to a flat income tax rate. But her veto also halts two tax-relief proposals she championed.

The Kansas Legislature recently approved a tax plan that sets a 5.15% income tax rate for almost all Kansans. Critics argue the plan mostly benefits the richest Kansans while also putting the state’s revenue stream in peril.

House Republican leaders have said the budget tackles some of their priorities, including providing tax relief to homeowners across the state.