Buying groceries just got a little cheaper in Oklahoma.
The 4.5% statewide sales tax on many food items officially came off the books at midnight after a bipartisan group of lawmakers approved the change and Gov. Kevin Stitt signed the bill earlier this year.
Here’s a rundown of how much you might be saving and what food is now exempt from Oklahoma’s grocery tax .
How much will I save on groceries with the tax cut?
The average savings that an Oklahoma shopper will see over a year will vary, naturally, based on how much food you actually buy.
Stitt has claimed Oklahomans will see an average of $800 a year in savings. But an individual or family would have to spend nearly $17,800 a year at the grocery store to avoid paying $800 in state sales tax.
The Oklahoma Policy Institute released calculations that break down the estimated savings based on annual income. According to their research, an Oklahoma family earning $40,000 annually will likely save about $125 per year. A family at the top of the income spectrum (more than $619,000 per year) would save an average of $408 per year.