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What is the annual budget for the state of Oklahoma?

What is the annual budget for the state of Oklahoma?

$7.3 billion
Its $7.3 billion annual expenditure is the largest single use of state funds. The state operates a wide range of social services, of which the largest is Medicaid, the health insurance system for low-income Oklahomans.

How much money does Oklahoma get from the federal government?

In 2016, Oklahoma state and local governments received almost $7.5 billion in federal funding, according to the U.S. Department of the Census. State government received 94 percent of federal funds, with local governments receiving just 6 percent.

How much money does Oklahoma make?

The economy of Oklahoma is the 29th largest in the United States. Oklahoma’s gross state product (GSP) is approximately $197.2 billion as of December 2018.

What resource brings the most revenue in Oklahoma?

Sales taxes are the largest tax source for Oklahoma governments, followed by the individual income tax. Together these account for 55 percent of Oklahoma tax revenue.

How much debt is Oklahoma in?

In the fiscal year of 2020, the state of Oklahoma had state debt totaling 10.03 billion U.S. dollars. However, the local government debt was slightly higher at 12.17 billion U.S. dollars.

What income is taxable in Oklahoma?

Oklahoma Median Household Income The state’s top income tax rate of 5.00% is in the bottom half of all states. However, this top tax rate applies to taxable income over just $7,200 for individual filers, or $12,200 for couples filing jointly and heads of household.

What is Tulsa sales tax rate?

Inside the City limits of Tulsa, the Sales tax and Use tax is 8.517%, which is allocated between three taxing jurisdictions: State of Oklahoma – 4.5% Tulsa County – 0.367%

Where is the Oklahoma State Budget Office located?

Statewide Budget & Performance Will Rogers Building 2401 N. Lincoln Blvd., Room 118 Oklahoma City, OK  73105 Phone:405-521-2141 Fax:405-521-3902 Back to Top Back to top Oklahoma Office of Management and Enterprise Services 2401 N Lincoln Blvd.

What makes a good budget recommendation for Oklahoma?

Budget recommendations are based on the division’s research and analysis on the effectiveness of state management and fiscal systems focusing on areas where state programs can be operated more efficiently and lowering the cost and size of state government.

What was the budget for the state of Oklahoma?

Seven health, law enforcement, and judiciary agencies will receive another $29 million for opioid projects. Bonds were authorized for state park improvements, replacing the Oklahoma Department of Human Services’ Greer Center, transportation projects, and high hazard dam rehabilitation.

How much revenue does the state of Oklahoma get?

Monthly Revenue Information April 2021 GRF collections impacted by income tax deadline change          March 2021 GRF collections remain above monthly estimate          February GRF collections 2.4 percent above previous year  January 2021 year-to-date collections still slightly above estimate