HB4480

Adjusts Oklahoma taxable income and provides deductions for various income sources and expenses.

Adjusts Oklahoma taxable income by modifying federal taxable income with specific additions and deductions. Provides exemptions for certain retirement benefits, Social Security benefits, and military compensation. Allows deductions for contributions to Oklahoma College Savings Plan accounts, expenses related to organ donation, and certain business expenses. Defines terms such as "Oklahoma company" and "facility" for tax purposes. Establishes effective dates for various provisions.