Oklahoma’s taxes are lower than most of the other 49 states.
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4th lowest in property taxes per capita
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7th lowest in total tax burden per capita
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The average Oklahoman pays $257 less in total state and local taxes in a year than the national average
Here’s how Oklahoma corporate, sales, and personal income taxes compare to other states in the region.
|
Tax comparisons |
|
|
State sales tax |
Corporate franchise tax |
Individual income tax |
Corporate income tax |
|
Oklahoma |
4.50% |
0.13% |
5.65% |
6.00% |
|
Kansas |
5.30% |
0.10% |
6.45% |
4.00% |
|
Texas |
6.25% |
0.25% |
0.00% |
4.50% |
|
Arkansas |
6.00% |
0.30% |
7.00% |
6.50% |
|
Colorado |
2.90% |
0.00% |
4.63% |
4.63% |
|
New Mexico |
5.00% |
Flat fee |
5.30% |
7.60% |
|
Louisiana |
4.00% |
0.15% |
6.00% |
8.00% |
|
Missouri |
4.23% |
0.03% |
6.00% |
6.25% |
|
* Texas corporate income tax reported is actually referred to by the state as a franchise tax. This tax identifies the lower bound amount for the Texas franchise tax. Otherwise, the Texas franchise ($2.50 per $1,000 of capital) is double the rate found in Oklahoma ($1.25 per $1,000 of capital up to a maximum of $20,000) without any cap. |
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Source: Oklahoma Department of Commerce/Federation of Tax Administrators |
