Oklahoma tax collections could take a hit into the hundreds of millions due to Supreme Court ruling

 

The Oklahoma Tax Commission is bracing for a drop in state tax revenue because of the recent U.S. Supreme Court decision, a drop that could total into the hundreds of millions of dollars.

A report by the commission regarding the impact of the McGirt v. Oklahoma ruling will lower the state’s revenue collections of individual income tax and sales and use taxes.

“The Oklahoma Tax Commission anticipates a significant, immediate and ongoing fiscal impact resulting from the expanded boundaries of the Muscogee (Creek) Nation under McGirt,” wrote Executive Director Jay Doyle in a letter dated Wednesday reported The Oklahoman.

Click here to read reporter Carmen Forman’s story in The Oklahoman.