Oklahoma SB736 creates the Health Care Sharing Ministry Tax Parity Act, allowing qualified individuals to deduct health care sharing expenses from.
Oklahoma SB736 establishes the Health Care Sharing Ministry Tax Parity Act, enabling residents who are active members of a health care sharing ministry for at least one month to deduct their qualified health care sharing expenses from their adjusted gross income on their state income tax returns. The Oklahoma Tax Commission is tasked with creating necessary forms, guidelines, and procedures for this deduction. Funds received from health care sharing ministry members to assist with medical expenses are not considered taxable income.
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