As to Oklahoma Gift Tax, Oklahoma repealed its Gift Tax effective January 1, 1982. Therefore, no Oklahoma Gift Tax would be due when a joint tenancy is created. Under Federal Gift Tax Law, spouses have an unlimited marital deduction for lifetime gifts between spouses, so there would be no Gift Tax upon the creation of a joint tenancy with one’s spouse. Nor would there be any Feder­al Estate Tax on the joint property at the death of the first spouse. The deceased spouse’s half passes under the Estate Tax unlimited marital deduction. Oklahoma’s Estate tax has been repealed, effective January 1, 2010. When property is placed in joint ownership with someone other than the spouse, a Federal Gift Tax may be due. If one person provides the entire purchase price and title is taken jointly with a person other than the spouse, a gift of half the property is made. Two exceptions to this rule are joint bank accounts and U.S. Savings Bonds. There is no gift until and unless the funds are withdrawn from the joint account or Savings Bond by the persons who did not provide the money deposited. For many gifts, the first $13,000 in value per year per donee is excluded from Gift Tax and other exclusions and credits may apply.