OKLAHOMA CITY (KFOR) - Governor Stitt on Tuesday, signed the state grocery tax elimination into law after both legislative chambers agreed on a proposal to eliminate the state grocery tax this year.
While Governor Kevin Stitt has persistently asked the legislature to cut personal incomes taxes, Senate President Pro Tempore Greg Treat (R-OKC) stood to his promise in previously stating he would rather give Oklahomans relief in the grocery store at this time.
Upon Governor Stitt's signature, the new law is set to eliminate the state tax, to include placing a moratorium on local grocery and sales taxes that would prohibit cities from increasing those through June 2025.
The tax cut is set to take effect immediately once signed into law as the state’s revenue is projected to decrease by $418 million with the new state grocery tax cut.
According to Senator Julie Daniels (R-Bartlesville), the tax cut is estimated to save each Oklahoman an average of $104.25 per year which is about $2/week.
“Today, we get to fulfill a promise to all four million Oklahomans and pass the largest single year tax cut in Oklahoma history. Cutting the grocery tax means relief for all Oklahomans. I’m going to always fight for limited government and lower taxes, and I will still advocate to get us on path to zero income tax. This is a victory I’m excited to celebrate.”
GOVERNOR KEVIN STITT
