Oklahoma SB106 provides a tax credit for employers who pay off employees' student loan debt.
Oklahoma SB106 introduces a tax credit for employers who make payments on the student loan debt of their employees. For tax year 2026 and beyond, employers can claim a credit equal to 30% of the amount paid towards an employee's student loans. This credit cannot reduce the employer's tax liability below zero. The Oklahoma Tax Commission will prescribe the form for claiming the credit and may require documentation. The bill becomes effective November 1, 2025.
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