BUSINESS CLIMATE
**Updated numbers / added data are in bold green text**
BUSINESS CLIMATE
Labor
Right-To-Work State % Employed Union Members in 2022 (MSA) % Employed Represented by a Union (MSA) State Labor Force (June 2023) Regional Labor Force (Greater OKC) (June 2023)
Yes 5.5% 7.1% 1,948,498 821,432 4% 4.75% 3.5-4.6% 11-12%
Taxes
Corporate Income Tax Rate Personal Income Tax Rate Sales Tax Rate (Avg. Local) Real Property Tax Range (County)
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 - 11.29%
10-13.75%
Personal Property Tax Range (County)
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 - 11.57%
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)
New Firm Rank New Firm Rate
#2 Lowest
3.8%
Property Tax Collections Per Capita (State)
Rank Collections
#5 Lowest $883
Gasoline Taxes (Jan. 2022 Taxes in Cents per Gallon)
State Of Oklahoma U.S. Average
38.4 57.09
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
84.0 84.9
$24.24 $19.29 $8.17
Residential Commercial Industrial All Sectors Average Annual Price of Electricity (State - May 2022 In Cents Per kWh)
10.15 12.42
9.76 6.91
Source: UnionStats, Lightcast, Oklahoma Department of Commerce, OK Tax Commission, County Assessors, Tax Foundation, American Petroleum Institue, Moody's, C2ER, CoStar 2023, Energy Information Administration Source: UnionStats, Lightcast, Oklahoma Department of Commerce, OK Tax Commission, County Assessors, Tax Foundation, American Petroleum Institue, Moody’s, C2ER, CoStar 2023, Energy Information Administration
Oklahoma City BY THE NUMBERS 2023
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