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  • Revenue
  • Mazzei had a separate bill that would have cut the income tax rate even further, to 4.75 percent, but offset much of the lost revenue by eliminating dozens of income tax credits and deductions. (yahoo.com)
  • Fallin last session proposed a bold initiative to slash Oklahoma's top income tax rate from 5.25 percent to 3.5 percent, reduce the number of income tax brackets from seven to three, and offset much of the lost revenue by eliminating various deductions and exemptions. (yahoo.com)
  • payers
  • Most jurisdictions require self-assessment of the tax and require payers of some types of income to withhold tax from those payments. (wikipedia.org)
  • continue
  • What needs to happen now, everybody just needs to keep cool heads, not get frustrated, and continue the dialogue to develop and implement an income tax cut for all the people of Oklahoma. (yahoo.com)
  • Innovation
  • The concept of taxing income is a modern innovation and presupposes several things: a money economy , reasonably accurate accounts , a common understanding of receipts, expenses and profits , and an orderly society with reliable records. (wikipedia.org)
  • increase
  • Practices such as tithing , or an offering of first fruits , existed from ancient times, and can be regarded as a precursor of the income tax, but they lacked precision and certainly were not based on a concept of net increase. (wikipedia.org)
  • percent
  • In the year 10 AD, Emperor Wang Mang of the Xin Dynasty instituted an unprecedented income tax, at the rate of 10 percent of profits, for professionals and skilled labor. (wikipedia.org)
  • The bill that Mazzei stalled Tuesday, sponsored by Shannon and Bingman and endorsed by Gov. Mary Fallin, would slash the top income tax rate from 5.25 percent to 5 percent. (yahoo.com)
  • year
  • I am in receipt of your notice reference # AB/12/82 dated 20-03-2012 regarding the non filing of Income tax return for the tax year 2011. (usingenglish.com)
  • As directed by you I have submitted my income tax you re the tax year 2011. (usingenglish.com)
  • As directed by you I filed the Income tax year for the tax year 2011.The copy of tax return and acknowledgement slip for tax year 2011 are enclosed for your information. (usingenglish.com)
  • Pitt hoped that the new income tax would raise £10 million a year, but actual receipts for 1799 totalled only a little over £6 million. (wikipedia.org)
  • The last thing we need right now is a repeat of last year, when no income tax cut moved forward. (yahoo.com)
  • progressive
  • William Pitt the Younger introduced a progressive income tax in 1798. (wikipedia.org)
  • Pitt's new graduated (progressive) income tax began at a levy of 2 old pence in the pound (1/120) on incomes over £60 (equivalent to £5,696 in 2015), and increased up to a maximum of 2 shillings in the pound (10%) on incomes of over £200. (wikipedia.org)