The Norman Transcript

Headlines

September 15, 2012

Why is State Question 766 on the ballot?

NORMAN — The impetus for State Question 766 is a lawsuit by public service company, Southwestern Bell Telephone. Southwestern Bell filed complaints with the Court of Tax Review, protesting the ad valorem tax assessments of its property by the State Board of Equalization for 2005, 2006, and 2007.

A settlement was reached between the two entities, except for Southwestern Bell’s claim that all of its intangible property is exempt from ad valorem taxation. The parties agreed this issue was a question of law and asked the Court of Tax Review to decide.

The Court ruled that only the intangible property set forth in Okla. Const. art. 10, § 6A is exempt. An appeal by Southwestern Bell failed.

This left members of the business community fearful that all businesses could be taxed on intangibles. A coalition of Chamber of Commerce and other business stakeholders pressed for the issue to be brought for a vote of the people.

Those items already exempted by the Oklahoma constitution will remain exempt regardless of the outcome of the vote on this state question.

If the measure passes with a yes vote, all intangible property will become exempt.

Items currently exempted by the state constitution will still be exempt regardless of the outcome of the vote.

 

Solutions sought

A lawsuit by Southwestern Bell challenging the state’s assessment of intangible assets led to the Oklahoma legislature adopting a business activity tax in lieu of ad valorem taxes for 2010 through 2012. According to the Oklahoma Tax Commission, “BAT applies to all entities regardless of form e.g., sole proprietorships, partnerships, limited liability companies, trusts and all types of corporations, doing business in Oklahoma.  

“Corporations, associations, joint-stock companies and business trusts doing business in Oklahoma are required to pay BAT in an amount equal to their franchise tax paid for tax year 2010 or $25 whichever is greater. All others doing business in Oklahoma must pay $25.”

Some believe an extension of the BAT is a fair way to handle the tax concern.

The full impact is uncertain, in part, because of the current and future impact of technology and its value.

 

Joy Hampton 366-3539 jhampton@ normantranscript.com

 

1
Text Only | Photo Reprints
Headlines
  • Chamber Banquet During annual banquet, Chamber of Commerce promotes moving Norman forward

    Amidst the backdrop of music, dancing, dinner and fellowship, business leader Mike Fowler announced that the time for a quality-of-life initiative in Norman has come. As incoming Norman Chamber of Commerce board chairman, Fowler and ...

    April 18, 2014 1 Photo

  • Symposium speaker Paul Polik: Commerce can help and bring millions out of poverty

    How to harness the power of commerce to address social and environmental challenges in sustainable ways was the topic of discussion at the University of Oklahoma Center for the Creation of Economic Wealth’s fourth annual Social ...

    April 18, 2014

  • Amber waves turn gray as farms lose younger generation

    OKLAHOMA CITY — Jerry Pfeiffer was thrilled when his son, Kelsey, 25, announced plans to return to the family’s farm in Orlando....

    April 18, 2014

  • Postal retiree luncheon set

    A postal retiree luncheon will be 11:30 a.m. Monday at Golden Corral Buffet and Grill, 123 N. Interstate Drive in Norman. Diners will meet in the lobby. For more information, call Joyce Carle at 872-5157....

    April 18, 2014

  • Flapjack fundraiser set

    The Apple Gold Group, a franchisee of Applebee’s Neighborhood Grill and Bar, will partner with the Global Outreach Team at Go Church to host a Flapjack Fundraiser on April 26. Proceeds raised will be used by team members to purchase ...

    April 18, 2014

  • OU Hornsemble goes to the movies

    The OU Hornsemble will present a concert of music from the cinema at 6 p.m. April 27 in the Paul F. Sharp Concert Hall. Billed as “Movie-Time Music,” the ensemble will present a wide variety of cinematic music from the 1940s to the ...

    April 18, 2014

  • Judge asks pointed questions in gay marriage case

    DENVER — A judge in Colorado who will play a pivotal role deciding whether gays should be allowed to wed in the United States asked pointed questions Thursday about whether Oklahoma can legally ban the unions....

    April 18, 2014

  • Fallin disappointed SBAdenied loans

    OKLAHOMA CITY — Gov. Mary Fallin said Thursday she is disappointed that a federal agency denied a request for loans to businesses in two Oklahoma towns affected by an emergency bridge closure....

    April 18, 2014

  • Sudan: 12 die after mob attacks UN base

    JUBA, South Sudan — An angry mob of South Sudanese youths attacked a U.N. base on Thursday to harm members of an ethnic minority sheltering inside. Peacekeepers were forced to open fire, amid rampaging violence that killed at least 12 ...

    April 18, 2014

  • Woman bound over for trial

    A Slaughterville woman facing a manslaughter charge after the death of an 8-year-old child was bound over for trial this week after a preliminary hearing in Cleveland County District Court. Kimberly Dawn Wenthold, 29, was charged in ...

    April 18, 2014

Video
Facebook