Oklahoma HB1267 modifies income tax rates and brackets for individuals and certain entities.
Oklahoma HB1267 amends the state's income tax structure by adjusting tax rates and brackets for individuals and certain entities. For individuals, the bill introduces a tiered tax system with different rates applied to various income brackets. It also modifies the tax rates for married individuals filing jointly and surviving spouses. Additionally, the bill adjusts the tax rates for trusts, estates, and foreign corporations. The changes are set to take effect on November 1, 2025.
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