Supporters Say State Question 766 Could Impact State Job Growth

State Question 766 could affect anything from trademarks, client lists, drilling logs, or licensed software.

Wednesday, October 17th 2012, 10:24 pm

By: News On 6

In just 20 days Oklahomans will go to the polls to make a number of decisions including six state questions.

State Question 766 came about after an Oklahoma Supreme Court ruling in 2009.

Now, there's an active campaign urging voters to fight back against the court.

A television commercial on the question shows images of a courtroom, but it's actually talking about taxes, specifically taxes on intangible property.

"The intangible property aspect is really a double taxation. It taxes things that we've already been paid for and been taxed on," said Brad Gaskins.

Gaskins is President of the state chapter of the American Institute of Architects.

His group is urging Oklahomans to vote yes on State Question 766 and make intangible property exempt from taxes.

Read more information on State Question 766 from Oklahoma Chamber of Commerce.

So what is intangible property?

It could be anything from trademarks, client lists, drilling logs, or licensed software.

"I think that is part of the problem: Intangible property is everything," Gaskins said. "It's what's in my head. The fact that I know something could be deemed intangible property. It's stuff that we've already done, that we've learned."

"We are actively trying to recruit businesses to the state and having an impediment like this would mean the loss of growing jobs in the state," said Chris Benge, with the Tulsa Area Chamber of Commerce.

Benge said State Question 766 needs to be approved, because the taxing of intangible property could have a negative effect on the state's ability to recruit companies and add jobs.

"I think it would work against us and it could potentially be a job killer," Benge said.

There is no organized effort to encourage voters to vote no on State Question 766, but critics say a lot of the tax dollars that would be collected on intangible property would go to public school districts.

Click here to read up on other proposed State Questions.


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