HB 2190
Revenue and taxation; Oklahoma taxable income and adjusted gross income; exemption; retirement income; effective date.
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- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies Oklahoma’s tax rules regarding taxable income and adjusted gross income. It increases the exemption amount for retirement income and certain retirement plans, aligning it with federal standards. The bill also adjusts deductions for net operating losses and clarifies how income from various sources, such as real property, intangible property, and transportation enterprises, is allocated. Furthermore, it introduces a tax exemption for employers utilizing the Oklahoma Department of Labor’s Safety Pays OSHA Consultation Service and adjusts the agricultural commodity processing facility exemption.
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