Oklahoma Legislature Approves Budget With No Ad Tax

The Oklahoma Legislature passed a budget last Friday which does not include any tax on advertising!  
 
Earlier this spring, Governor Mary Fallin had proposed eliminating a number of sales tax exemptions, including the exemption for advertising, in order to resolve a potential budget shortfall of nearly $1.3 billion for FY2017.

The legislature cut overall state spending by 5 percent and used “rainy day” funds and other “one-time money” to cover part of the budget shortfall.  Lawmakers will likely face a revenue gap of more than $600 million when they begin drawing up the new budget next February, so taxes may be on the agenda again next year.  

We worked effectively with the Oklahoma broadcasters and other industry groups to closely monitor this situation.