2018 November POINT!

ECONOMIC INDICATORS

Oklahoma Has the Lowest Unemployment Insurance Tax, Top 10 Corporate Tax Rank

• The Tax Foundation released its 2019 annual report for state tax structures. Making this list isn’t just about having low (or no) taxes, it’s about how clear the tax code is and how effectively it raises revenue in balance with its impact on businesses. • Oklahoma ranked No. 1 for its unemployment insurance tax structure- for the fourth year in a row. Oklahoma’s unemployment insurance tax is particularly friendly towards businesses as it’s easy to understand and doesn’t penalize companies already struggling. • Oklahoma also ranked in the top 10 for the best corporate income tax structure, outpacing neighbors like Texas (49th), Kansas (34th), Colorado (16th) and Arkansas (40th).

Unemp. Insur. Tax Rank

Corporate Tax Rank

Rank

State

Rank

State

Oklahoma

1 2 3 4 5 6 7 8 9

South Dakota

1 2 3 4 5 6 7 8 9

Florida

Wyoming

Delaware Louisiana Mississippi

North Carolina

Missouri

Utah

Ohio

Florida

North Carolina

New York Georgia Oklahoma

Missouri

Nebraska

NewMexico

Virginia

10

10

A rank of 1 is most favorable. Source: Tax Foundation, 2018. For comprehensive Economic Indicators and Regional Data, please visit your Greater Oklahoma City Chamber Economic Development Division at www.greateroklahomacity.com/economicindicators or contact Eric Long, Research Economist – 405-297-8976; elong@okcchamber.com

THE POINT - NOVEMBER 2018 18

www.okcchamber.com

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