Oklahoma SB103 modifies income tax exemptions for certain retirement benefits for specific tax years.
Oklahoma SB103 amends the state's income tax law to modify exemptions for certain retirement benefits. For tax years beginning after December 31, 2004, and before January 1, 2009, retirement benefits not exceeding specified amounts are exempt from taxable income. For tax years beginning on or after January 1, 2009, and before January 1, 2011, 80% of such benefits are exempt. For tax years beginning on or after January 1, 2011, 100% of such benefits are exempt. The bill also updates statutory language and references, and it becomes effective November 1, 2025.
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