Oklahoma Income Tax Reduction Ruled Unconstitutional

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The Supreme Court of Oklahoma has ruled Oklahoma tax legislation enacted in 2013 reducing the top Oklahoma individual income tax rate from 5.25% to 5% in 2015, with further reduction to 4.85% possible in 2016, is unconstitutional and void.

In the case of Fent v. Fallin, 2013 OK 107, Dec. 17, 2013, the Oklahoma individual income tax rate reduction enacted by the Oklahoma Legislature in May 2013, was found unconstitutional.

Please see full Article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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