Budget & Taxes (Income Tax)

in committee · Oklahoma · Senate Feb 4, 2025

SB 323: Income tax; modifying rate for certain corporations for certain tax years. Effective date.

SB 323 amends Oklahoma's individual income tax code to establish new tax rates for tax years beginning January 1, 2024. It directly affects Oklahoma residents and nonresidents filing individual income tax returns. The bill creates a tiered rate structure: for single filers and married filing separately, it sets rates from 0.25% on the first $1,000 up to 4.75% on income above $6,200. This replaces prior rates (which had a top rate of 5.50% for 2008-2008), reducing the highest marginal tax rate for most filers.

Topics ✗ Budget & TaxesOpposes Budget & TaxesReduces top individual income tax rate from 5.50% to 4.75%, creating tax breaks for high earners per bill's rate reduction.85% confidence

Sub-Topics Business Taxes Income Tax

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in committee · Oklahoma · Senate Feb 4, 2025

SB 256: Income tax; providing credit for certain employer child care expenditures; providing refundability credit for qualified child care worker. Effective date.

This bill creates two income tax credits for Oklahoma taxpayers. Employers can claim a 30% credit (up to $30,000 annually) for qualifying child care expenses paid for employees, including costs for on-site facilities or contracted care. Additionally, qualified child care workers who meet specific criteria (like working 8+ months, providing classroom services, and completing 12+ credit hours) receive a $1,000 refundable credit (meaning it can be paid as cash if tax owed is low). The credits apply to tax years 2026-2030, with annual limits of $5 million for employer credits and $14 million for all credits combined, adjusted yearly by the Oklahoma Tax Commission.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates refundable tax credits for child care workers (lower/middle income) and employer child care expenses, providing direct tax relief and incentivizing workforce support.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides direct financial benefit to child care workers via refundable tax credit and incentivizes employer child care support, expanding worker benefits.85% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 4, 2025

SB 328: Income tax; creating the Promote Child Thriving Act; providing credit for certain married individuals with dependents. Effective date.

SB 328 creates the "Promote Child Thriving Act," providing a state income tax credit for married biological parents. It offers $500 per child under 18 if parents are married and living together, or $1,000 per child if parents were married before the child's birth. To qualify, parents must be legally married, listed on the child's birth certificate or custodial, and reside together for at least six months (with limited exceptions). The credit is non-refundable, may be carried forward for up to 10 years if unused, and requires sworn attestation of biological relationship and marital status when claimed.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing liability for married parents with dependents, offering relief to middle/lower income families through targeted tax benefit.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 26, 2026

SB 1398: Income tax credit; creating the Children's Promise Act; providing credit for contributions to certain charitable organizations. Effective date.

SB 1398, the "Children's Promise Act," creates an income tax credit for Oklahoma taxpayers who donate to qualifying charities focused on child welfare. The credit equals 50% of the donation (capped at the taxpayer’s total income tax bill) for organizations meeting strict criteria, including being headquartered in Oklahoma, serving children in state custody, preventing abuse/abandonment, or promoting traditional family values. Charities must certify they do not provide, fund, or support abortion services and meet specific local impact requirements. Taxpayers claim the credit on their tax return, and unused credits can be carried forward for up to five years.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 50% income tax credit for child welfare donations (capped at tax bill), providing direct tax relief to taxpayers while incentivizing charitable support for state child welfare programs.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 4, 2025

SB 292: Income tax; modifying certain income tax rate for certain tax years. Effective date.

SB 292 reduces Oklahoma's top individual income tax rate for tax years beginning January 1, 2024. It lowers the highest marginal rate from 5.50% to 4.75% for single filers and married couples filing jointly (and heads of households) on income above specified thresholds ($2,300 for singles, $2,400 for married couples). This change applies directly to all Oklahoma residents and nonresidents filing individual income tax returns for 2024. The rate reduction is contingent on a determination by the State Board of Equalization, as referenced in the bill's provisions.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces top individual income tax rate from 5.50% to 4.75%, providing tax relief for high earners under specified thresholds.90% confidence

Sub-Topics Business Taxes Income Tax

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in committee · Oklahoma · House Feb 4, 2025

HB 2102: Revenue and taxation; Oklahoma Revenue and Taxation Act of 2025; effective date.

HB 2102 creates a 100% state tax credit for married Oklahoma taxpayers who pay for couples counseling services, defined as relationship-focused therapy provided by licensed therapists, doctors, or religious leaders. The credit applies to costs incurred for counseling during taxable years beginning January 1, 2026, and reduces income tax liability but cannot lower it below zero. This policy directly affects legally married individuals in Oklahoma who seek counseling services, offering a financial incentive for such expenses. The credit is limited to the amount of state income tax owed and takes effect on January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 100% tax credit reducing income tax liability for couples counseling, providing targeted tax relief under tax policy.95% confidence ✓ HealthcareSupports HealthcareProvides 100% tax credit for couples counseling services, directly expanding access to mental health care for married Oklahomans.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 4, 2025

SB 322: Income tax; modifying rate for certain corporations for certain tax years. Effective date.

SB 322 modifies Oklahoma's individual income tax rates for tax years beginning on or after January 1, 2024. It lowers the top marginal tax rate to 4.75% for single filers (from 5.50%) and adjusts corresponding brackets for married filers filing jointly. The bill affects all Oklahoma residents and nonresidents who file individual income tax returns. This change is contingent on a determination by the State Board of Equalization, as specified in the legislation.

Topics ✓ Budget & TaxesSupports Budget & TaxesLowers top individual income tax rate from 5.50% to 4.75%, providing tax relief for high earners as explicitly modifying tax rates.90% confidence

Sub-Topics Business Taxes Income Tax

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in committee · Oklahoma · House Feb 4, 2025

HB 1332: Revenue and taxation; income tax credit; definition; credit amounts; requirements; effective date.

HB 1332 creates a new income tax credit for Oklahoma-licensed emergency medical services (EMS) personnel. It provides tiered credits based on certification level: $100 for emergency medical responders (EMRs), $200 for emergency medical technicians (EMTs), $400 for advanced/intermediate EMTs (AEMTs), and $600 for paramedics. To qualify, workers must maintain active Oklahoma licensure and be verified as current employees by their ambulance service administrator through a new online system managed by the State Department of Health. The credit applies to tax years beginning January 1, 2025, and can be combined with other tax credits. This bill directly affects licensed EMS workers employed in Oklahoma ambulance services.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credits ($100-$600) to EMS workers, reducing their tax burden - direct tax relief for lower/middle-income public service workers.95% confidence ✓ HealthcareSupports HealthcareProvides tax credits to EMS personnel ($100-$600) to support healthcare workforce retention and recruitment in emergency medical services.95% confidence

Sub-Topics Income Tax Tax Credits Medical Licensing Tags Public Safety

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