SB290

Oklahoma SB290 modifies income tax rates for certain tax years and updates withholding requirements.

Oklahoma SB290 amends the Oklahoma Income Tax Act to modify certain income tax rates for tax years 2022 through 2024. It introduces new tax brackets for individuals, married couples filing jointly, and heads of households. The bill also updates the withholding requirements for certain tax years and specifies that fiduciaries are not allowed a deduction for any federal income tax paid. Additionally, it limits the tax to certain tax years and updates statutory references and Fiduciaries. The changes are effective for tax years 2022 through 2024.