Cigarette Taxes and Cigarette Smuggling by State, 2021
People respond to incentives. As tax rates increase or products are banned from sale, consumers and producers search for ways around these penalties and restrictions.
17 min read
Oklahoma Tax Rates, Collections, and Burdens
How does Oklahoma’s tax code compare? Oklahoma has a graduated individual income tax, with rates ranging from 0.25 percent to 4.75 percent. Oklahoma also has a 4.00 percent corporate income tax rate. Oklahoma has a 4.50 percent state sales tax rat, a max local sales tax rate of 7.00 percent, and an average combined state and local sales tax rate of 8.98 percent. Oklahoma’s tax system ranks 23rd overall on our 2023 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and Oklahoma is no exception. The first step towards understanding Oklahoma’s tax code is knowing the basics. How does Oklahoma collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures: How Does Your State Compare?
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