Restore Oklahoma's GPT To 7% So Oil Companies Pay Their Fair Share
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Oklahoma is broke and members of the oil and gas industry pay a 3.2% gross production tax rate, one of the lowest in the nation. Compare that to Wyoming's 13.4% rate, Louisiana's 13.2% rate, and Alaska's 12.0% rate. It is time that the GDP in Oklahoma is restored to 7%.
State Question 795 will raise approximately $300 million a year by restoring the state’s production tax on oil and natural gas to 7%.
This move will mostly affect oil companies headquartered out of state. After increasing this tax back to where it was for more than 30 years our tax rate on oil and gas will still be the lowest among major energy states.
Sign the petition now and let Oklahoma's Legislature know that enough is enough, the future of our state is at stake.
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