Oklahoma SB98 modifies income tax rates, exemptions, and deductions for certain tax years.
Oklahoma SB98 amends the state's income tax laws by modifying rates, exemptions, and deductions for certain tax years. It adjusts the tax rates for different classes of taxpayers, including individuals, married couples filing jointly, and nonresident aliens. The bill also updates the standard deduction amounts for specific tax years and introduces new exemptions and deductions, such as for contributions to the Achieving a Better Life Experience (ABLE) Program and the Oklahoma College Savings Plan.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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