0706OSUlivestockpremptionbi.cfm 0706OSUlivestockpremptionbi.cfm Livestock premium tax exemption passes
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Livestock premium tax exemption passes

Oklahoma

As part of an omnibus tax bill recently signed by Governor Henry, legislation that will allow monetary awards at livestock shows to be treated as scholarship money up to $600 for tax purposes was passed recently in the State Legislature.

"Our local youth who raise livestock put in a lot of hard work and money for these achievements, and I think the least we can do is to acknowledge that these efforts should be rewarded just as hard work and achievement in the classroom are," said Senator John Sparks.

"These young people are some of the most dedicated, hard working leaders in our communities," said Senator Jonathan Nichols.

Representative Bill Nations said, "With thriving vocational agricultural programs in Norman, the kids in these programs are among the most talented in our county. The ability to help them attend higher education is vitally important to our state."

"Oklahoma has a long and rich agricultural tradition. By encouraging our students to get involved in this important component of our economy, we are insuring that this tradition will flourish for generations to come," said Representative Scott Martin. "Today's ag student will be tomorrow's ag leader."

Justin McConaghy, Cleveland County 4-H Extension Educator agrees. "It's important to the future of our state that we preserve the tradition of farming and ranching, and this is one way we can encourage our local youth to carry on this important tradition."

"Our local Senators and Representatives should be recognized for their strong support of the youth in their districts," said McConaghy. "They should be commended for their actions to make sure that our youth are recognized for their hard work."



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