As with all holidays, people headed to the grocery store to stalk up on items to have that big family fourth of July barbeque. According to the Consumer Report Index, the cost of food went up by 1.5% this past May compared to May of last year.
Some relief from high grocery prices is on its way. Beginning August 29 of this year, in Oklahoma, shoppers will get some relief when they go to the grocery store, when the sales tax on certain grocery items goes away.
In February, Gov. Stitt signed House Bill 1955 into law, which will cut the state’s 4.5 % grocery tax. This will save families an average of 400 dollars a year.
Any time you’re going to take any percentage off, even if it's 1% or 2%, it's going to make a difference.
The bill that reduced the state sales tax rate on food and food ingredients to 0% is HB 1955, commonly referred to as the 'grocery tax' bill. This bill eliminates the state portion of the sales tax on food and food ingredient items typically purchased at a grocery store. Cities and counties will still collect taxes on groceries.