By Jaclyn Dejohn, Managing Editor of Economic Analysis, SmartAsset
With taxes, housing, food and other costs varying widely across the U.S., a $100,000 income can look drastically different depending on where you live. Even places that don’t charge residents a state or local income tax can see a wide range for how far a dollar stretches thanks to cost of living differences. Because of the nature of compounding, the wide differences in the value of a $100k income can have life-changing effects on your long-term finances, particularly early on in your investment career.
With this in mind, SmartAsset adjusted a $100,000 income for federal, state and local taxes, as well as local cost of living premiums, to find the purchasing power – or effective value – of that money in 72 of the largest U.S. cities. Good News in Oklahoma, both Tulsa and OKC score in the top ten for value.
In a surprise to many, Osage County Commissioner Everett Piper has resigned his District 1 seat on the County Board of Commissioners effective “on or before March 31, 2024.”
Piper assumed office on January 3, 2023, and his term ends on January 4, 2027.
In an exclusive interview with this writer, Piper said, “I made it very clear from the very beginning that I was not seeking the position for a career or for any other reason than to correct some things that needed to be corrected in terms of leadership, budget and deferred maintenance care and organization of the [County] fairgrounds and also to bring a spirit of congeniality and respect into the office where people were treated well, both staff and peers as well as constituents.
Analysis: Would you like to pay less taxes? I’d like to pay less taxes. Who wouldn’t? For the 2024 Oklahoma Legislative Session, everyone is talking about a tax cut, and several proposals are flying through the halls of the Capitol.
Gov. Kevin Stitt has asked the Legislature to pass a tax cut of 0.25 to lower the state income tax from 4.75% to 4.5%. The reduction in tax collections would be approximately $250 million.
The leaders in the Senate have wisely discussed caution to await the latest financial analysis on tax collection projections that come out this month. They would like to see the effects of the tax reductions for both personal and corporate income taxes that passed two years ago.
In a sure sign that spring is not far behind, the first Purple Martins of the year have been spotted in Purcell, Oklahoma. The arrival, cheered by the Purple Martin Conservation Association in a national release today, reminds that Purple martins, the largest swallows in North America, became acclimated to the dried gourds hung by Native Americans and handcrafted birdhouses designed by European colonists. The prevalence of these ready-made houses, coupled with the decline of natural cavities, has changed the behavior of the species. Now, only man-made nests will do and it’s time for landlords to hoist the homes.
The birds were seen on February 8 in Purcell by a Purple Martin enthusiast – one of many throughout the eastern and central United States who track and report on the birds’ annual migration on behalf of the Association. The migration of these unique birds can be reported and tracked through a community science project called the Scout-Arrival Study.
Hunter hearing and rural quiet will be advanced in Oklahoma in addition to manufactures’ liberty if a new bill is approved as written. Senate Bill 1551, by Sen. George Burns, R-Pollard, is a measure aimed at safeguarding firearm suppressors manufactured within Oklahoma from federal regulations.
SB 1551 provides that a firearm suppressor manufactured and remaining in Oklahoma shall not be subject to federal law or federal regulation.