HB 2508 - Reduces Individual and Corporate Income Taxes - Oklahoma Key Vote
Gary Stanislawski voted Yea (Passage With Amendment) on this Legislation.
Timeline
- Senate Bill Passed
- April 22, 2014
- House Bill Passed
- March 6, 2014
- Introduced
- Feb. 3, 2014
Related Issues
Stage Details
Title: Reduces Individual and Corporate Income Taxes
Vote Smart's Synopsis:
Vote to pass a bill that reduces personal and corporate income taxes contingent upon certain circumstances, effective January 1, 2016.
Highlights:
- Reduces the individual state income tax rate from 5.25 percent to 5 percent if the State Board of Equalization determines that during the next fiscal year the estimated amount of revenue decreased due to the reduced tax rate is less than the estimated increase in the General Revenue Fund (Secs. 1 & 3).
- Reduces the corporate income tax rate from 6 percent to 5 percent if the State Board of Equalization determines that during the next fiscal year the estimated amount of revenue decreased due to the reduced tax rate is less than the estimated increase in the General Revenue Fund (Secs. 2 & 4).
Title: Reduces Individual and Corporate Income Tax Rates
Vote Smart's Synopsis:
Vote to pass a bill that reduces personal and corporate income taxes contingent upon certain circumstances, effective January 1, 2016.
Highlights:
- Reduces the individual state income tax rate from 5.25 percent to 5 percent if the State Board of Equalization determines that during the next fiscal year the estimated amount of revenue decreased due to the reduced tax rate is less than the estimated increase in the General Revenue Fund (Secs. 1 & 3).
- Reduces the corporate income tax rate from 6 percent to 5 percent if the State Board of Equalization determines that during the next fiscal year the estimated amount of revenue decreased due to the reduced tax rate is less than the estimated increase in the General Revenue Fund (Secs. 2 & 4).
Title: Reduces Individual and Corporate Income Tax Rates