Local & Regional
Wed February 23, 2011
Tax Cut Ahead
By KWGS News
Oklahoma City, OK – Despite a half-billion dollar funding hole in Oklahoma, income tax rates will drop next year by a quarter of one-percent. Governor Fallin says statewide revenue growth was enough to trigger a mandated tax cut.
The Governor is hopefully residents will spend the tax savings; thereby boosting the economy.
The rate will drop from 5.5% to 5.25% effective next January.