Oklahoma’s Individual Income Tax Basics

A new fact sheet from Oklahoma Policy Institute explains the basic of Oklahoma’s individual income tax. The income tax is the largest source of state revenue, making up about one-third of all tax collections. The fact sheet explains three important concepts for understanding Oklahoma’s income tax: 1) taxable income, 2) tax brackets, and 3) effective tax rates.

A related blog post explains why it is important to preserve the state’s income tax, which is being targeted for elimination by some state leaders.