Oklahoma has one of the lowest tax burdens for our local companies in the U.S. and this is beneficial to any company wanting to “Make Their Move” to Chickasha. This along with our low cost of living make Chickasha a great fit for your company. Oklahoma Business Incentives and Tax Guide 2020
Income Tax Rates
- Personal Income Tax 4.50%
- Corporate Tax Rate 1.30%
Cities and towns in Oklahoma derive their funding primarily from sales and use tax, permit fees, service fees, grants, and fines. The City’s sales tax rate is 3.75%. Combined with state and county sales tax, the total sales tax rate in Chickasha is 9.0%.
For businesses, property taxes are based on the assessed value of the tangible property: furniture, fixtures, equipment and inventory that is owned on January 1 of the current tax year. In Oklahoma, property taxes are the main source of non-grant revenue for school districts, counties, and career-tech systems. Grady County Assessor
Property Tax Exemption for Manufacturing
Certain new or expanding manufacturing or research and development facilities may qualify for a five-year exemption from property taxes when adding investment or jobs. Some business inventories may be exempted from property taxation in whole or in part if not detained in Oklahoma for more than nine months.