Liberal, KS

Now: 84 °F

Currently: Fair

Hi: 84 °F | Lo: 62 °F

Saturday

Hi: 97 °F 

Lo: 66 °F

Sunday

Hi: 96 °F 

Lo: 68 °F

Monday

Hi: 93 °F 

Lo: 65 °F

Tuesday

Hi: 92 °F 

Lo: 61 °F

Wednesday

Hi: 91 °F 

Lo: 62 °F

OK Gov. Fallin Signs Income Tax Cut Bill

KSCB News - April 29, 2014 8:10 am

Oklahoma Gov. Mary Fallin has signed an income tax cut measure into law.

It will gradually lower Oklahoma’s top income tax rate from 5.25 percent to 4.85 percent over several years. The cuts are dependent upon revenue triggers, meaning Oklahoma’s general revenue collections must increase before cuts take effect. The earliest they could take effect is in 2016.

Fallin signed the measure Monday. It’s one of her top goals for the 2014 Legislature.

Fallin says it will put more than $200 million into the economy each year and make Oklahoma a better place to do business, meaning more opportunities and jobs for Oklahoma families and more revenue for core government services.

The average cut at the 4.85 percent rate will be $158 per year.

 

Latest Stories

Dodge City Man Sentenced to 10 Years

A Dodge City man was sentenced today to 10 years in prison after pleading guilty to...

Gubernatorial Candidate to be in Liberal

Senator Laura Kelly, candidate for governor, will be joined by her running mate at the Rock...

Waterline Work to Begin May 29

On Tuesday May 29th, King Enterprises will start work on Cain Ct. They will be installing a new...