BUSINESS CLIMATE
Labor
Right-To-Work State % Employed Union Members in 2023 (MSA) % Employed Represented by a Union (MSA) State Labor Force (June 2024) Regional Labor Force (Greater OKC) (June 2024)
Yes 6.2% 6.9% 2,005,630 854,785 4% 4.75% 3.75-4.6%
Taxes
Corporate Income Tax Rate Personal Income Tax Rate Sales Tax Rate Range (Cities over 10K) Real Property Tax Range (County)
11-12%
Canadian - 12.00% Cleveland - 12.00% Grady - 11.00% Kingfisher - 11.00%
Lincoln - 11.00%
Logan - 11.00% McClain - 11.00% Oklahoma - 11.00%
Payne - 11.40% Pottawatomie - 12.00%
Personal Property Tax Range (County)
10-14%
Canadian - 12.00% Cleveland - 12.00% Grady - 11.00% Kingfisher - 11.00%
Lincoln - 12.00%
Logan - 10.00% McClain - 11.00% Oklahoma - 13.75%
Payne - 11.40% Pottawatomie - 14.00%
Inventory exempt from tax for certain purposes; final destination must be outside Oklahoma and remain in state for less than 9 months
Inventory Tax
Labor-Intensive Manufacturer Effective Tax Rate (State)
New Firm Rank New Firm Rate New Firm Rank New Firm Rate
#1 Lowest 2.2%
Corporate Headquarters Effective Tax Rate (State)
# 2 Lowest 8.1%
Shared Services Center Effective Tax Rate (State)
#2 Lowest
New Firm Rank New Firm Rate
3.8%
Property Tax Collections Per Capita (State)
Rank Collections
#6 Lowest $4,480
Gasoline Taxes (Jan. 2023 Taxes in Cents per Gallon)
State Of Oklahoma Excise Tax U.S. State Excise Tax Average
19
29.7
Costs
Cost of Doing Business Index (MSA) Cost of Living Index (Oklahoma City) Average Class A Office Lease Rate Average Marketwide Office Lease Rate Average Lease Rate - Industrial
83.6 84.3
$24.44 $20.36 $8.32
Average Annual Price of Electricity (State - April 2024 In Cents Per kWh)
Residential Commercial Industrial All Sectors
8.28 5.31 8.14 12.46
Source: UnionStats, Lightcast, Oklahoma Department of Commerce, OK Tax Commission, County Assessors, Tax Foundation, American Petroleum Institue, Moody’s, C2ER, CoStar 2024, Energy Information Administration
Oklahoma City AT A GLANCE 2024
13
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