Oklahoma Supreme Court Holding Hearing On State Tax Challenges
OKLAHOMA CITY - The Oklahoma Supreme Court is hearing arguments Tuesday in the legal challenges to four tax bills approved by the state legislature this year.
The four tax bills were approved late in the session prompting multiple lawsuits questioning their constitutionality.
Oral arguments will be heard on an auto sales tax, an electric vehicle fee, a cigarette tax, and a freeze on the income tax standard deduction rate.
The four bills to be reviewed allot more than $340 million to the state. If the justices agree the bills are unlawful and all of that revenue disappears, about one-third of that money could come from the overall state budget.
Many state agencies suffered cuts in the past budget year but critics say if these bills are found unconstitutional, lawmakers wouldn't have much of an option.