NORMAN — Editor, The Transcript:
I want to alert your readers to an important state question on the November ballot. Voting YES on SQ 766 will guarantee that the government won’t raise taxes on intangible personal property and put unnecessary strain on small businesses and families.
The Supreme Court ruled that intangible property, ie. non-physical property, with very limited exceptions, is taxable. A yes vote will permanently prevent this overreaching taxation.
Without it, there is literally no limit to the types of taxes that might be invented and enforced. Retirement benefits, computer software, business names, insurance policies, professional licenses, client lists and a slew of other items would be considered taxable.
This subjective, complicated, and increased tax burden on businesses will stifle innovation and job growth.
Oklahoma’s economic future is looking up; we must ensure that we stay on the right track. Vote YES on SQ 766 to protect yourself from excessive taxation.
John Woods, President & CEO
Norman Chamber of Commerce