Oklahoma Grocery Tax Cut Countdown Begins
Ponca City Now - August 12, 2024 10:27 am
Rep. Ken Luttrell-Ponca City
By Rep. Ken Luttrell
The countdown to the elimination of the state grocery tax is in full swing, folks. Starting August 29, Oklahomans will see savings at the grocery store when the state’s portion of the tax is removed.
Did you know that food is the third-largest household expenditure, with the average Oklahoma adult spending $2,852 on groceries annually? Unfortunately, the price of essential grocery items has risen since 2019.
According to March 2024 data from the U.S. Census Bureau, 60% of respondents from Oklahoma reported struggling to cover their regular household expenses in the past week. Federal data suggests that the cost of a dozen eggs has doubled, and a loaf of white bread now costs $1.96, an increase of 51% in just four years.
In response, the Oklahoma Legislature passed House Bill 1955 to eliminate the state sales tax on groceries, providing much-needed financial relief to those who need it most. However, certain items, such as ready-to-eat prepared foods, heated foods, and grocery deli items, will still be taxable. To determine which items are exempt from the state sales tax, please visit Oklahoma.gov/tax.html.
This tax cut is all about putting more cash back into the pockets of Oklahomans, giving us the freedom to spend our money how we want. Instead of dealing with complicated policies that take forever to make a difference, getting rid of a state grocery tax means immediate savings for all Oklahomans. It’s predicted that around $418 million will be returned to Oklahomans, saving each person an average of $105.79 at the checkout line each year.
At a time when many states are looking to increase taxes, Oklahoma is taking the opposite approach. Since I was reelected in 2018, the Legislature has reduced individual income tax from 5% to 4.75%, reduced corporate income tax, and now eliminated the state portion of the grocery sales tax.
This milestone in eliminating the state grocery tax marks a significant step toward easing the financial burden on Oklahoma families. However, there’s still more to be done to ease the tax load on the people of Oklahoma.
As always, thank you for electing me to serve District 37. It is truly an honor and privilege to represent you at the State Capitol. As always, please do not hesitate to reach out to me with any concerns at 405-557-7355 or [email protected].