Oklahoma eliminates statewide grocery tax | Supermarket News

Oklahoma eliminates statewide grocery tax | Supermarket News

Oklahoma eliminates statewide grocery tax | Supermarket News

Get ready to dive into some exciting Oklahoma news about money, taxes, and groceries. In late February, Oklahoma Governor Kevin Stitt signed a bill eliminating the state’s 4.5% tax on grocery purchases in a big move. This decision received a resounding thumbs-up from almost everyone in the legislature.

Before this change, Oklahoma was one of only 13 states that taxed groceries. And guess what? Its tax rate was one of the highest in the country! Only Mississippi, Kansas, and Idaho had higher grocery tax rates than Oklahoma and South Dakota. Other states, like Tennessee, Alabama, Hawaii, Virginia, Utah, Arkansas, and Missouri, also tax groceries at lower rates. Illinois is even considering getting rid of its grocery tax in the future.

Governor Stitt mentioned that many Oklahoma residents, especially those in the southern part of the state, would cross over to Texas for grocery shopping to avoid these taxes. He’s been keen on scrapping this tax since 2019 to encourage people to shop locally, calling it “the largest single-year tax cut in Oklahoma history.”

The grocery tax was considered one of the most regressive in Oklahoma, disproportionately affecting lower-income families. With this tax cut, the average household in Oklahoma is expected to save about $700 a year. That’s a lot of extra cash for other important things!

Senate Pro Tem Greg Treat highlighted the significant savings Oklahomans will enjoy at the grocery store once this tax cut takes effect. Thanks to the collaborative efforts of the Senate and House, it’s a big win for the people of Oklahoma………..full-loaf-600x400-1-e1700879832480 Oklahoma eliminates statewide grocery tax | Supermarket News[read more]

Rising Dough

Rising-Dough-e1700879911412 Oklahoma eliminates statewide grocery tax | Supermarket NewsIn the context of Oklahoma’s decision to eliminate the grocery tax, how might this change impact the local economy and consumer behavior? Consider the potential effects on spending patterns, local businesses, and the overall financial well-being of residents.

*Click on the “Full Loaf” icon to read the full article! After you read the full article, let us know your thoughts.

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stonestreetcoffee.com ☕️ **Discover Stone Street Coffee Company - Your Coffee Haven!** Today's Dough readers, if you're on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today's Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street's commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

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