Oklahoma HB1725 amends the state's income tax code to adjust taxable income and gross income, providing various deductions and exemptions.
Oklahoma HB1725 amends the state's income tax code to adjust taxable income and gross income. It provides various deductions and exemptions, including for contributions to certain savings accounts, adoption expenses, and retirement benefits. It also exempts certain income from taxation, such as Social Security benefits and income from the Oklahoma College Savings Plan. The bill defines terms and specifies conditions for deductions and exemptions, affecting individual and corporate taxpayers.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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