Oklahoma HB2229 modifies the earned income tax credit percentage to 10% for tax years beginning on or after 2026.
Oklahoma HB2229 amends the earned income tax credit under Oklahoma state law to increase the credit percentage from 5% to 10% for tax years beginning on or after 2026. This change aligns the credit with the Internal Revenue Code's requirements, ensuring consistency in computation. The maximum credit allowable will be prorated based on the ratio of Oklahoma adjusted gross income to federal adjusted gross income. The act will take effect on November 1, 2025.
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