Oklahoma SB826 provides an income tax credit for contributions to qualifying charitable organizations serving low-income households, individuals with.
Oklahoma SB826 establishes an income tax credit for contributions to qualifying charitable organizations that serve low-income households, individuals with chronic illnesses, or physically disabled individuals. The credit is limited to $400 for single filers and $800 for joint filers. The bill also allows a credit for contributions to qualifying foster care charitable organizations, up to $500 for single filers and $1,000 for joint filers. The credit cannot reduce the taxpayer's income tax liability below zero.
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