SB 299
Income tax; modifying certain apportionment factor for calculation of Oklahoma taxable income. Effective date.
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- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill changes how Oklahoma calculates a company’s taxable income when it operates in multiple states. Specifically, it adjusts the ‘apportionment factor,’ which is a percentage used to determine how much of a company’s Oklahoma income is subject to state tax. The bill aims to align Oklahoma’s tax rules more closely with those of other states and potentially reduce the tax burden on some businesses. It was approved by the Senate and House and is awaiting final approval.
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