Oklahoma HB1788 modifies individual income tax rates and standard deduction amounts.
Oklahoma HB1788 amends the individual income tax rates and standard deduction amounts for taxable years beginning after December 31, 1998, and ending on December 31, 2025. It introduces a progressive tax structure with varying rates for different income brackets and adjusts the standard deduction based on filing status. The bill also includes provisions for exemptions and deductions related to various income sources, such as retirement benefits, Social Security benefits, and contributions to the Oklahoma College Savings Plan. Effective January 1, 2026.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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