Oklahoma – Proposed Sales Tax Increase for Education

SALT Report 3740 – A proposed penny sales tax increase for education would push Oklahoma to the top of the list of states with the highest combined state and local sales taxes, according to data from a national research group. Oklahoma’s sales tax is under scrutiny because University of Oklahoma President David Boren has launched an initiative petition campaign to put a penny sales tax increase on the statewide ballot in November 2016. If Boren’s proposed tax increase were approved by voters, the state sales tax would increase from the current 4.5-cent rate to 5.5 cents.The Boren plan would raise an estimated $615 million in additional funds for K-12 and higher education. About 60 percent is earmarked for common education, and most of it would be used to give Oklahoma school teachers $5,000-a-year.

For further Information:



https://saltcpa.com/ https://validate.saltcert.com/# https://saltcert.com/forms/