Taxes

Sales Tax

State        4.5%

County     0.813%

City           3.5%

Total         8.813%


Property Tax

1% State Average:

0.1% to 1.41% (Real Property)

0.1% to 1.74% (Personal Property)


Workers' Compensation Tax 

Base or Measure- Gross direct premiums, normal premiums, actual paid losses

Rate- 2.77%1


Corporate Income Tax

Base or Measure- Net Income

Rate- 6.0%


Personal Income Tax

Base or Measure- Over $7,200 (Single or married filing Separately)/Over $12,000 (Married filing jointly)

Rate- 5.0% (Potential drop to 4.85% in 2018 based upon revenue growth)


Franchise Tax

Base or Measure- Franchise tax levied on all corporations that do business in the state of Oklahoma.

Rate- $1.25 for each $1,000 of capital invested or used in Oklahoma. Foreign corporations are additionally assessed $100 per year.


Unemployment Insurance Tax

Base or Measure- $17,500 Wage Base

Rate- New Employer: 1.5% Experienced Employer: 0.1-5.5%


Due to a reduction in loss costs and legislative reforms in 2013, this rate is expected to decrease about 10%.

Effective Tax Year 2016, due dates for Oklahoma corporate and partnership income tax returns are 30 days after the due dates for these types of returns under the Internal Revenue Code.

Source: Pg. 57- FY2018 Oklahoma Incentives & Tax Guide