Oklahoma City, OK 73105
For Immediate Release: January 10, 2013
Anderson proposes flat tax of 2.95%
Anderson has filed Senate Bill 240 to replace Oklahoma’s
current income tax structure with a flat tax of 2.95%. The Anderson
flat tax plan is simple, fair, and revenue neutral. Additionally,
the plan would result in Oklahoma having the lowest income tax rate
in the nation, among the 43 states that do impose an income tax.
SB 240 would eliminate all current income tax deductions, credits,
and exemptions. Under the proposal, the state income tax rate would
be cut nearly in half, and yet there would be no loss of revenue
to state government. The Oklahoma Tax Commission has reviewed the
numbers and determined that a flat rate of 2.95%, as Anderson has
proposed, would be revenue neutral.
“The bottom line is if you replace our current tax system
with a flat tax, then all taxpayers are treated equally,”
said Anderson, R-Enid. “This flat tax offers tax relief to
all Oklahomans, and it has no negative impact on the state budget.
It would be a great selling point for businesses that are looking
to relocate to our great state.”
If Anderson’s flat tax proposal is adopted, Oklahoma would
join seven other states which already have a flat tax. Those states
are: Colorado; Illinois; Indiana; Massachusetts; Michigan; Pennsylvania;
The following states have no income tax: Alaska; Florida; Nevada;
South Dakota; Texas; Washington; and Wyoming.
For more information contact:
Sen. Anderson: (405) 521-5630