{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-2355.1f","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-2355.1F","heading":"Implementation of 5% top marginal rate","body":"A. The provisions of this section shall be applicable with\n\nrespect to the implementation of the five percent (5%) top marginal\n\nrate of individual income tax otherwise authorized pursuant to the\n\nprovisions of subparagraph (f) of paragraphs 1 and 2 of subsection C\n\nof Section 2355 of Title 68 of the Oklahoma Statutes, which shall be\n\ncontingent upon a determination by the State Board of Equalization\n\nmade by a comparison described by this section which shall be\n\nconducted until the income tax rate of five percent (5%) is\n\neffective.\n\nB. In addition to any other duties prescribed by law, at the\n\nmeeting required by paragraph 1 of Section 23 of Article X of the\n\nOklahoma Constitution to be held in December 2014, and for any\n\nsubsequent December meeting of the State Board of Equalization, if\n\nthe five percent (5%) top marginal income tax rate prescribed by\n\nsubparagraph (f) of paragraphs 1 and 2 of subsection C of Section\n\n2355 of Title 68 of the Oklahoma Statutes has not become effective,\n\nthe State Board of Equalization shall compare:\n\n1. The total General Revenue Fund proposed estimate for fiscal\n\nyear 2014 which was certified at the State Board of Equalization\n\nmeeting held in February 2013; and\n\n2. The total General Revenue Fund proposed estimate for fiscal\n\nyear 2016, or if the five percent (5%) top marginal income tax rate\n\nprescribed by subparagraph (f) of paragraphs 1 and 2 of subsection C\n\nof Section 2355 of Title 68 of the Oklahoma Statutes has not become\n\neffective, the fiscal year for which the Board is certifying a\n\nproposed estimate.\n\nIf the amount determined pursuant to the provisions of paragraph\n\n2 of this subsection is equal to or greater than the amount\n\ndetermined pursuant to the provisions of paragraph 1 of this\n\nsubsection, the Board shall make a finding that the revenue\n\ncomputations required by this section will authorize the\n\nimplementation of the five percent (5%) top marginal income tax rate\n\nprescribed by subparagraph (f) of paragraphs 1 and 2 of subsection C\n\nof Section 2355 of Title 68 of the Oklahoma Statutes beginning on\n\nthe second January 1 following the December meeting.\n\nIf the amount determined pursuant to the provisions of paragraph\n\n2 of this subsection is less than the amount determined pursuant to\n\nthe provisions of paragraph 1 of this subsection, the Board shall\n\nmake a finding that the revenue computations required by this\n\nsection will not authorize the implementation of the five percent\n\n(5%) top marginal income tax rate prescribed by subparagraph (f) of\n\nparagraphs 1 and 2 of subsection C of Section 2355 of Title 68 of\n\nthe Oklahoma Statutes beginning on the second January 1 following\n\nthe December meeting.\n\nC. If the Board makes a finding that the revenue computations\n\nrequired by this section do not authorize the implementation of the\n\n5% top marginal income tax rate prescribed by of subparagraph (f) of\n\nparagraphs 1 and 2 of subsection C of Section 2355 of Title 68 of\n\nthe Oklahoma Statutes beginning with calendar year 2016 pursuant to\n\nthe provisions of subsection B of this section, such procedures\n\nshall be repeated by the State Board of Equalization for each\n\nsuccessive two-year comparison until the rate is implemented.","path":["OK Code","Title 68"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os68.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"53143dafc44b2a4222ad184b8230422327fbd044637eef989e9df56bfde9a771","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-2355.1c","next":"us-ok/okla.-stat.-tit.-68-68-2355.1p-1"},"notice":"GroundRules: Original legal text. Not legal advice."}