Oklahoma law makers are working to end the state income tax for all citizens by introducing new legislation that would eventually see the current income tax structure go away completely. This is great news for all Oklahomans and will hopefully be approved and passed sometime soon.
State lawmakers will be submitting a referendum and are hoping to gain approval in order to place it as a question on a state ballot. I think most Oklahomans would agree doing away with the state's current sales tax on groceries is a good thing.
When you check your checking or savings account this weekend you may be a little or a lot short. Over the past 6 months, families have been receiving stimulus checks or payments in the form of child tax credits.
Back in July we heard news that Oklahoma Legislators were working to end the sales tax on groceries. At that time they announced that they would be conducting a study to see what the possible impacts would be both positively and negatively for the state. Well they've done their research and it's looking like they'll be moving forward with it. Lawmakers will be meeting very soon to draft legislation to end the grocery sales tax.
Another round of stimulus checks are on the way for some Americans. This time around it's based on dependents, specifically children. The new stimulus checks will be in the form of a child tax credit and will be split into monthly payments starting sometime this July. It's all a part of the American Rescue Plan Act of 2021 signed by President Joe Biden.