McDaniel Seeks End To Death Tax
Legislation to immediately abolish the estate tax and lower the income tax significantly has been filed by legislative newcomer State Rep. Randy McDaniel, R-Oklahoma City.
McDaniel authored a bill to be heard during the 2007 session that would alleviate Oklahoma families from paying state taxes when a family member dies. His bill would be a permanent and immediate elimination of the estate tax, also referred to as the death tax. Eliminating the death tax has been a focus for many House members and during the 2006 House session a plan was set in place to gradually remove the death tax over time. McDaniel says Oklahomans should not have to wait.
Another part of McDaniel's bill would lower the state income tax from 5.65 percent to 5 percent. McDaniel, who has over 14 years experience in financial services and has business degrees from the University of Oklahoma and Cambridge University, sees the need for Oklahoma to adopt a tax structure that is competitive to other states.
McDaniel authored a bill to be heard during the 2007 session that would alleviate Oklahoma families from paying state taxes when a family member dies. His bill would be a permanent and immediate elimination of the estate tax, also referred to as the death tax. Eliminating the death tax has been a focus for many House members and during the 2006 House session a plan was set in place to gradually remove the death tax over time. McDaniel says Oklahomans should not have to wait.
Another part of McDaniel's bill would lower the state income tax from 5.65 percent to 5 percent. McDaniel, who has over 14 years experience in financial services and has business degrees from the University of Oklahoma and Cambridge University, sees the need for Oklahoma to adopt a tax structure that is competitive to other states.
Labels: Death Tax
posted by Mike McCarville @ 3:36 PM
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