Oklahoma HB1927 amends tax laws to exempt certain retirement income from taxable income.
Oklahoma HB1927 amends the state's tax code to exempt certain retirement income from taxable income. Specifically, it exempts retirement benefits received by individuals from any component of the Armed Forces of the United States, federal civil service retirees, and survivor annuities paid in lieu of Social Security benefits. The bill also provides exemptions for contributions to Oklahoma College Savings Plan accounts and certain medical expenses related to human organ donations. The changes are set to take effect on November 1, 2025.
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