Weekly Opinion/Editorial
2010 BRINGS CHANGE!by Steve Fair
As Roman senator and historian Publius Cornelius Tacitus said in the first century, "As formerly we suffered from crimes, so now we suffer from laws."
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At the stroke of midnight on Thursday the 31st, eleven pieces of legislation from the 2009 Oklahoma state legislative session went into effect in Oklahoma. They range from one that extends tax credits for people who purchase cars that run on LP or natural gas to one that creates a state Chief Information Officer who will work to consolidate purchasing of computers and other I.T. equipment.
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Some of the new legislation makes sense- like the I.T. consolidation, which should make government more efficient and secure when it is implemented. Governor Henry is charged with filling the CIF position, which pays about 150K a year, but Henry, has said he won’t have the position filled until later in January. He does have his search narrowed down to the top five applicants, but the chronically late Guv has had six months to get the position filled. Other notable bills that went into effect on January 1st were:
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HB1661 provides an income tax check off for the Oklahoma Y.M.C.A. Youth and Government Program. SB 721, authored by Senator Don Barrington, (R-Lawton) allows Oklahomans to help the children of military personnel killed in action to further their education by donating a portion of their income tax refund to them. It would also provide income tax exemption for payments resulting from death of certain persons killed in military action. These two statutes provide options for taxpayers and will not grow government, so they make sense.
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HB2148, authored by Representative Don Armes, (R-Faxon) created the Uniform Limited Cooperation Association Act of 2009. The measure allows individuals in rural and urban settings to use a cooperative structure to own, run and share in the benefit of their business in combination with modern financing techniques. Natural gas and rural electric cooperatives are exempt from being formed under this act.
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SB 11 requires the Oklahoma Tax Commission to pay interest on refunds if not paid in a timely way. SB 314 requires the Tax Commission to issue new decals for motor vehicle tags. The new decals will have a two-letter abbreviation corresponding to the county of issue.
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SB 318 is a general tax statute of nearly 200 pages containing numerous tax law revisions requested by the OTC. A provision in the bill does create an Oklahoma Viticulture and Enology Center Development Revolving fund (350K annually) to benefit the wine industry. SB 458 authorizes county election board secretaries to transmit balloting materials by e-mail under certain conditions. While the intent of this statute is good(military personnel), the ‘unintended consequences’ could present opportunity for voter fraud.
At the stroke of midnight on Thursday the 31st, eleven pieces of legislation from the 2009 Oklahoma state legislative session went into effect in Oklahoma. They range from one that extends tax credits for people who purchase cars that run on LP or natural gas to one that creates a state Chief Information Officer who will work to consolidate purchasing of computers and other I.T. equipment.
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Some of the new legislation makes sense- like the I.T. consolidation, which should make government more efficient and secure when it is implemented. Governor Henry is charged with filling the CIF position, which pays about 150K a year, but Henry, has said he won’t have the position filled until later in January. He does have his search narrowed down to the top five applicants, but the chronically late Guv has had six months to get the position filled. Other notable bills that went into effect on January 1st were:
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HB1661 provides an income tax check off for the Oklahoma Y.M.C.A. Youth and Government Program. SB 721, authored by Senator Don Barrington, (R-Lawton) allows Oklahomans to help the children of military personnel killed in action to further their education by donating a portion of their income tax refund to them. It would also provide income tax exemption for payments resulting from death of certain persons killed in military action. These two statutes provide options for taxpayers and will not grow government, so they make sense.
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HB2148, authored by Representative Don Armes, (R-Faxon) created the Uniform Limited Cooperation Association Act of 2009. The measure allows individuals in rural and urban settings to use a cooperative structure to own, run and share in the benefit of their business in combination with modern financing techniques. Natural gas and rural electric cooperatives are exempt from being formed under this act.
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SB 11 requires the Oklahoma Tax Commission to pay interest on refunds if not paid in a timely way. SB 314 requires the Tax Commission to issue new decals for motor vehicle tags. The new decals will have a two-letter abbreviation corresponding to the county of issue.
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SB 318 is a general tax statute of nearly 200 pages containing numerous tax law revisions requested by the OTC. A provision in the bill does create an Oklahoma Viticulture and Enology Center Development Revolving fund (350K annually) to benefit the wine industry. SB 458 authorizes county election board secretaries to transmit balloting materials by e-mail under certain conditions. While the intent of this statute is good(military personnel), the ‘unintended consequences’ could present opportunity for voter fraud.
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SB 608 increased the annual fee for cigarette wholesaler and manufacturer licenses from $25 to $250. This statute grows government and the fees will undoubtedly be passed on to smokers in the form of a price increase. TEN fold fee increases at one time on legal businesses just because government can is excessive and inappropriate.
SB 608 increased the annual fee for cigarette wholesaler and manufacturer licenses from $25 to $250. This statute grows government and the fees will undoubtedly be passed on to smokers in the form of a price increase. TEN fold fee increases at one time on legal businesses just because government can is excessive and inappropriate.
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SB 909 offers enhanced incentives for job creation in Oklahoma. Under current Oklahoma law, employers qualify for Quality Jobs tax rebates if they create new jobs with a minimum payroll of $2.5 million. They also have the option of applying for tax credits if they invest $40 million in Oklahoma. In eight other states, they can take advantage of both at the same time, which they cannot currently do in Oklahoma. This legislation allows existing and new businesses in Oklahoma to take advantage of both the rebates and credits. This makes good sense and will help create jobs in the Sooner state.
SB 909 offers enhanced incentives for job creation in Oklahoma. Under current Oklahoma law, employers qualify for Quality Jobs tax rebates if they create new jobs with a minimum payroll of $2.5 million. They also have the option of applying for tax credits if they invest $40 million in Oklahoma. In eight other states, they can take advantage of both at the same time, which they cannot currently do in Oklahoma. This legislation allows existing and new businesses in Oklahoma to take advantage of both the rebates and credits. This makes good sense and will help create jobs in the Sooner state.
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SB 916 directs a dividends-paid deduction otherwise allowed by federal law to compute net income of a real estate investment trust and is subject to federal income tax to be added back in computing income tax if the trust is a captive real estate investment trust. SB 1127 relates to corporate registered agents, foreign limited liability companies and filing fees. Both of these statutes are business friendly and don’t grow government.
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SB 916 directs a dividends-paid deduction otherwise allowed by federal law to compute net income of a real estate investment trust and is subject to federal income tax to be added back in computing income tax if the trust is a captive real estate investment trust. SB 1127 relates to corporate registered agents, foreign limited liability companies and filing fees. Both of these statutes are business friendly and don’t grow government.
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The most notable change to Oklahomans may be the death of the so-called, ‘death tax.’ The estate tax was gradually eliminated over the last few years, with full repeal occurring Jan. 1st. Implemented seventy-four years ago, the ‘double taxation’ often forced heirs to sell the deceased’s assets to satisfy the tax bill. “When people lose a loved one, they suffer enough without facing a new tax burden, especially one that could potentially force the sale of a family farm or business,” said House Speaker Chris Benge, (R-Tulsa).
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The federal estate tax has been repealed for 2010 and will need U.S. Congressional reauthorization for the repeal to continue, but Oklahoma’s death tax no longer exists as of January 1st. The feds could take a page from Oklahoma and make the federal estate tax repeal permanent.
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2010 will bring many changes and not just in more laws. Benjamin Franklin gave some sound advice when he said, “Be always at war with your vices, at peace with your neighbors, and let each new year find you a better man.” Happy New Year!
2010 will bring many changes and not just in more laws. Benjamin Franklin gave some sound advice when he said, “Be always at war with your vices, at peace with your neighbors, and let each new year find you a better man.” Happy New Year!
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