Income tax cut will boost economy, Oklahoma governor says

By Michael McNutt | Published: May 5, 2013

Cutting the state’s top personal income tax rate, a move contained in legislation set to be signed into law this month, sends a strong message to businesses that Oklahoma is serious about providing tax relief for residents and businesses, Gov. Mary Fallin says.

“Lowering our taxes in Oklahoma will absolutely get the attention of businesses, not only here in our state, but businesses across our nation,” she said. “It helps us have a competitive advantage.

“It sends a very strong signal that we’re not going to be raising taxes upon our businesses or upon our citizens, which makes us more attractive to do business and more attractive as a place to live,” Fallin said.

The governor said Oklahoma was caught between Texas, which has no personal income tax, and Kansas, which last year lowered its income tax rate last year from 6.45 percent to 4.9 percent.

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