Comment on State board votes to keep a capital gains tax break but drop ethanol incentive

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Fri, 11/17/2017 - 4:56pm

State board votes to keep a capital gains tax break but drop ethanol incentive

By Justin Wingerter Staff Writer jwingerter@oklahoman.comAfter considerable debate, a divided Oklahoma Incentive Evaluation Commission voted Friday to keep the state's capital gains tax exemption in place, rejecting the recommendations of a consultant who found it has cost state coffers $465 million over five years while failing to spur investment. “We really have no evidence that it's leading to more spending in Oklahoma,” said Cynthia Rogers, one of four commissioners in attendance and the only opponent of the exemption. Steve Burrage, chairman of the Oklahoma Tax Commission, defended the exemption as an incentive for investment. “There is a benefit to Oklahoma taxpayers,” he said. Rogers and Burrage verbally sparred repeatedly on the matter.Read more on NewsOK.com

 

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