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Home / OK: Lawmakers Working On Incentives To Lure NBA’s SonicsOK: Lawmakers Working On Incentives To Lure NBA’s Sonics
Last Updated on Tuesday, 1 July 2008 12:42 Written by rslcpol Tuesday, 1 July 2008 12:19
Sonics…the Glove to Reign Man. If only Oklahoma could recreate that combo – this baby would pay for itself. From NewsOn6:
Oklahoma state lawmakers are working on incentives to bring the Seattle SuperSonics to Oklahoma City.
The Sonics sent a letter of intent Oklahoma City. The letter details what it will take to get the team to Oklahoma. Among the requirements are tax incentives from the state.
Senator Glenn Coffee is among the key players working to bring the Sonics to Oklahoma City. He’s currently working on legislation that would provide the Sonics a tax break if they move to Oklahoma.
“We have done it for other industries,” Coffee said. “Basically what it says if you’re bringing jobs to this state we provide a tax incentive for relocating that business here.”
Coffee said the NBA requires players to pay income tax in the state they’re playing the game in. So for each game played, that’s more money for the state.