The state sales tax rate in Oklahoma is 4.50%. ![]() Oklahoma also has a personal exemption of $1,000 for each filer, with additional exemptions available for each dependent listed by the filer. The 2023, the Oklahoma standard deduction is $6,350 for single filers or married persons filing separately and $12,700 for married persons filing jointly. This excludes charitable contributions and medical expenses, which are not subject to the aforementioned cap. ![]() Itemized deductions in Oklahoma are capped at $17,000. Itemized deductions are identical to federal itemized deductions. Itemized deductions are allowed in the state of Oklahoma only for filers who itemized deductions on their federal return. These tax rates apply to Oklahoma taxable income, which includes specific types of income after all deductions and exemptions. The rates range from 0% to a top rate of 4.75%, based on the income brackets shown below. Similar to the federal government, Oklahoma has an income tax that applies higher rates to higher income levels. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. Finding a financial advisor doesn't have to be hard. Of course, that tax varies widely depending on where in the state you are, just as the income tax rates vary depending on income and other factors.Ī financial advisor can help you understand how taxes fit into your overall financial goals. When considering both state and local sales taxes, the state has an average rate of 8.76%. It isn’t all good news for Oklahoma taxpayers, however. The Sooner State’s property taxes are also below average, with an average effective rate of 0.90%, 24th-highest in the U.S. That puts Oklahoma’s top income tax rate in the bottom half of all states. ![]() Gas tax: 19 cents per gallon of regular gasoline and dieselįor the 2022 tax year, Oklahoma’s top income tax rate is 4.75%.Property tax: 0.90% average effective rate.
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