List of Oklahoma tax breaks

A list of some of the state tax exemptions, credits and deductions approved by lawmakers and the Oklahoma Tax Commission's estimate of their cost:

_Livestock purchased outside Oklahoma and brought into the state for feeding or breeding purposes, and which is later resold, $48 million.

_Sales to manufacturers, $1.6 billion.

_Income tax credit for low-income elderly or disabled Oklahomans, $37.8 million.

_Agricultural sales, $63.9 million.

_Sales Tax Holiday, $6.4 million.

_Sales of drugs for the treatment of human beings, medical appliances, devices or equipment including prosthetic devices, $14.8 million.

_Exemption for specified private retirement benefits, $17.6 million.

_Sales of aircraft engine repairs, modification and replacement parts, $2.2 million.

_Sales of drugs, except for over-the-counter drugs, prescribed for the treatment of human beings by a person licensed to prescribe the drugs and sales of insulin and medical oxygen, $60.9 million.

_Income tax exemption for the first $7,500 of most government retirement benefits and Social Security benefits to the extent the Social Security benefits are part of the federal adjusted gross income, $50.2 million for government benefits and $77.5 for Social Security benefits.

_Sales of certain types of advertising, $46.8 million.

_Sales for resale to persons engaged in the business of reselling the articles purchased and who have been issued sales tax permits by the Oklahoma Tax Commission, $1.49 billion.

_Sale of natural or artificial gas and electricity when sold exclusively for residential use, $99.6 million.

_Admissions to professional sporting events involving ice hockey baseball, basketball, football or arena football, or soccer, $691,000.

_Oklahoma Earned Income Tax Credit, $30.2 million.



Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

< Back to News Index