Taxes

Corporate and Personal Tax Rates

State Income Tax Rate:  

• 6% of Federal Taxable Income  

Property Tax Rate  

• Duncan is located in three ad valorem districts.  The average rate is about 1% of the fair cash value.
• New and expanding qualifying industries may be eligible for ad valorem exemptions for up to five years.

Sales and Use Tax Rates

Sales Tax:  

• Local: 3.5%  
• County: 0.55%  
• State:   4.5%

Oklahoma has a comprehensive sales tax exemption for manufacturers who obtain a Manufacturer’s Sales Tax Exemption Permit from the Oklahoma Tax Commission. 

Use Tax:
Local: 3.5%  
State: 4.5%   

Inventory Tax Rates

Oklahoma has a Freeport Exemption on qualified inventory; Oklahoma’s Freeport Law exempts from taxation goods, wares, and merchandise that come from outside the state and leave the state within nine months if such goods, wares, and merchandise are held for assembly, storage, manufacturing, processing, or fabricating purposes within the state.