Oklahoma SB309 provides an income tax credit for eligible dependent children, with varying amounts based on marital duration.
Oklahoma SB309 introduces an income tax credit for eligible dependent children, defined as those under 19 years old who qualify as federal dependents and are natural children of both taxpayers. The credit amount varies based on the duration of the taxpayers' continuous marriage, ranging from $1,000 to $2,000 per child. The credit is non-refundable and cannot reduce the taxpayer's liability below zero.
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- Legal Framework
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