Oklahoma SB323 modifies income tax rates for certain corporations and updates withholding requirements.
Oklahoma SB323 amends the state's income tax rates for certain corporations, reducing the rate from 30% to 4% for taxable years beginning after December 31, 2021. It also updates the withholding requirements for certain tax years. The bill specifies tax rates for different income brackets and modifies the banking privilege tax. The changes are set to take effect on November 1, 2025.
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