Oklahoma SB48 modifies income tax rules, including adjustments to taxable income, deductions, and exemptions.
Oklahoma SB48 amends the Oklahoma Income Tax Act to adjust taxable income, modify deductions, and establish new exemptions. It includes provisions for adjusting taxable income for corporations and individuals, modifying deductions for capital gains, retirement benefits, and contributions to the Oklahoma College Savings Plan. The bill also introduces exemptions for certain military personnel, agricultural commodity processing facilities, and individuals donating human organs. Effective November 1, 2025, the bill updates statutory language and references to align with current tax regulations.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.