Budget & Taxes (Business Taxes)

in committee · Oklahoma · House Feb 3, 2026

HB 3806: Revenue and taxation; Oklahoma Revenue and Taxation Act of 2026; effective date.

HB 3806 creates a tax credit for Oklahoma businesses that accept credit or debit card payments. It allows eligible businesses to claim a credit equal to 100% of their credit card processing fees that exceed 2% of total transaction volume. The credit reduces state income tax liability but cannot lower it below zero, and unused portions may be carried forward for up to five years. This applies to taxable years beginning January 1, 2027, and affects businesses like retailers, restaurants, and service providers processing card payments. The credit is allocated to business owners (e.g., partners, shareholders) if the business is treated as a partnership for federal tax purposes.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credit reducing business tax liability, aligning with tax relief support indicator for businesses.90% confidence

Sub-Topics Business Taxes Sales Tax Tax Incentives

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in committee · Oklahoma · House Feb 19, 2026

HB 4318: Revenue and taxation; sales tax; use tax; deduction for vendor; effective date.

HB 4318 allows Oklahoma businesses collecting sales and use tax to deduct a small amount for record-keeping and filing costs. Specifically, it authorizes a 1% deduction on the tax owed (capped at $1,000 per month per business account), but excludes deductions for direct payment permits or late filings (unless due to a declared natural disaster). The bill applies directly to businesses that collect and remit sales/use tax in Oklahoma, covering both the tax calculation process and monthly reporting requirements. It becomes effective November 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesAllows 1% tax deduction for businesses, reducing their tax burden on sales/use tax collections.90% confidence

Sub-Topics Business Taxes Sales Tax

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signed · Oklahoma · Senate Apr 20, 2026

SB 1992: Income tax credit; defining "strategic finance partner." Effective date.

SB 1992 creates a new income tax credit program for businesses constructing or expanding facilities in qualifying locations across Oklahoma, such as underpopulated counties (under 100,000 people) or near rail infrastructure. It allows a 10% tax credit on construction and expansion costs (up to $6 million per project) and a 50% credit for rail infrastructure projects (up to $3 million per project), with a total annual state cap of $12 million. The bill defines "strategic finance partner" as entities providing capital (like loans or investments) to qualifying projects, enabling them to claim the tax credit through assignment to the business. The credit expires after tax year 2027 and requires Oklahoma Department of Commerce approval for project eligibility.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates tax credits for businesses (10-50% on construction/rail costs), directly altering tax policy to provide relief and incentivize economic activity within fiscal caps.95% confidence ✓ TransportationSupports TransportationBill provides 50% tax credit for rail infrastructure projects (up to $3M), directly funding transportation infrastructure development per rail infrastructure eligibility criteria.90% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Rail

in committee · Oklahoma · Senate Feb 26, 2025

SB 1: Taxation; directing State Board of Equalization to make certain certification; reduction of income tax rate upon certain certification. Emergency.

SB 1 requires Oklahoma's State Board of Equalization to certify five-year revenue averages for oil, natural gas, and corporate income taxes. If annual tax collections exceed these averages by $400 million or more, it automatically reduces individual and corporate income tax rates. This directly affects all Oklahoma taxpayers by linking potential tax cuts to specific revenue growth thresholds. The $400 million trigger adjusts for inflation every decade starting in 2035.

Topics ✓ Budget & TaxesSupports Budget & TaxesAutomatically reduces income tax rates when revenue exceeds $400M threshold, providing tax relief per bill's explicit mechanism.95% confidence

Sub-Topics Business Taxes Income Tax Revenue

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signed · Oklahoma · Senate May 14, 2025

SB 573: Small business incubators; requiring submission of certain information to the Oklahoma Commerce Department to qualify for certain income tax exemption. Effective date.

SB 573 allows small businesses operating within Oklahoma incubators to qualify for up to 10 years of state income tax exemption on business income earned while occupying the incubator space. To maintain this exemption after 2025, businesses must annually submit specific financial and operational details - including employment levels, subcontractor payments, revenue estimates, and other financial information - to the Oklahoma Department of Commerce using a form created by the agency. The bill requires the Commerce Department to establish this reporting framework and mandates that businesses disclose prior tax exemptions and additional state incentives received. This law, effective November 1, 2025, applies directly to small businesses using incubator facilities to access the tax benefit.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 10-year income tax exemption for small business incubator tenants, offering tax relief to support economic development and business growth.95% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives Tags Small Business

in committee · Oklahoma · House Feb 4, 2025

HB 2447: Revenue and taxation; broadband communications; income tax credit; effective date.

HB 2447 creates a 25% income tax credit for businesses that invest in qualified broadband telecommunications infrastructure in Oklahoma, effective for tax years beginning after December 31, 2025. The credit covers the cost of equipment, facilities, and technology used to provide high-speed internet service, with the credit limited to reducing tax liability to zero and allowing unused portions to be carried forward for up to five years. This policy directly affects businesses building or upgrading broadband networks, particularly in rural areas as defined by the Rural Broadband Expansion Council. The bill aims to incentivize broadband expansion by reducing costs for infrastructure investment. It becomes effective January 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates 25% business income tax credit for broadband infrastructure investment, reducing taxable income and incentivizing private sector broadband expansion through fiscal policy.95% confidence ✓ TechnologySupports TechnologyCreates 25% tax credit for broadband infrastructure investment, directly expanding high-speed internet access through business incentives.95% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Broadband Access Telecommunications

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signed · Oklahoma · House May 28, 2025

HB 2764: Revenue and taxation; duties of the State Board of Equalization; certification of revenue amounts; income tax rate reduction; effective date.

HB 2764 establishes a framework for determining when Oklahoma can reduce income tax rates based on state revenue levels. It requires the State Board of Equalization to annually certify five-year average revenue amounts from oil, natural gas, and corporate income taxes. If projected revenue exceeds these averages, specific portions (100% for oil/gas, 25% to a reserve fund and 75% to a stabilization fund for corporate tax) must be deposited into state funds. This bill directly affects Oklahoma taxpayers paying these specific taxes and sets the revenue thresholds that would trigger future income tax rate reductions. The law was approved by the Governor on May 28, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesEnables income tax rate reductions when revenue exceeds thresholds, directs excess to stabilization fund, promoting fiscal responsibility and tax relief.90% confidence

Sub-Topics Business Taxes Income Tax Revenue

in committee · Oklahoma · House Feb 4, 2025

HB 1146: Revenue and taxation; county severance tax; election; apportionment; Oklahoma Tax Commission; effective date.

HB 1146 authorizes Oklahoma counties to levy a severance tax on surface-mined materials (excluding coal) at a maximum rate of $0.10 per ton, requiring voter approval through a special election or initiative petition. The tax revenue must be split equally: 50% for county road and bridge improvements, and 50% for municipal infrastructure projects based on population. Exemptions include limestone used for agriculture, materials sold for hydraulic fracturing, and personal extraction not for profit. Counties must notify taxpayers 60 days before rate changes and cannot impose additional fees on mining operations. The bill takes effect November 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesAuthorizes new severance tax to fund county roads/bridges and municipal infrastructure, directly allocating tax revenue to public infrastructure projects per bill's allocation.95% confidence ✓ TransportationSupports TransportationBill allocates 50% of severance tax revenue specifically for county road and bridge improvements, directly funding transportation infrastructure.95% confidence

Sub-Topics Business Taxes Revenue Sales Tax Bridges Roads & Highways Transportation Funding

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in committee · Oklahoma · House Feb 4, 2025

HB 2881: Revenue and taxation; deduction; broadband equipment; federal funds; effective date.

HB 2881 creates a tax deduction for Oklahoma businesses receiving specific federal broadband funding. It allows businesses to deduct funds distributed by the Oklahoma Broadband Office under federal programs like the American Rescue Plan Act (ARPA) and the Infrastructure Investment and Jobs Act's BEAD Program, provided the money is spent on broadband equipment or services. This deduction applies to taxable income for years starting January 1, 2025, and is distributed to pass-through business owners. The bill directly affects Oklahoma broadband providers and service entities using federal recovery funds for infrastructure.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax deduction for broadband business investments, reducing taxable income. Aligns with tax relief for business growth under federal broadband programs.95% confidence ✓ TechnologySupports TechnologyBill creates tax deduction for broadband equipment spending, directly advancing internet access infrastructure through financial incentives for businesses.95% confidence

Sub-Topics Business Taxes Tax Incentives Broadband Access

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died · Oklahoma · House Feb 7, 2025

HB 1806: Revenue and taxation; individual income tax; tax rates; effective date.

HB 1806 amends Oklahoma's individual income tax code to reduce tax rates for most filers, effective for taxable years beginning in 2024. It lowers the top marginal tax rate from 5.50% to 4.75% for single filers and 5.50% to 4.75% for married couples filing jointly (after specific income thresholds), while eliminating deductions for federal income taxes paid. The bill directly affects all Oklahoma residents and nonresidents with taxable income subject to state income tax. Key provisions include revised tax brackets for both single and joint filers, with the lowest rate reduced to 0.25% on the first $2,000 of taxable income for married filers.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces top individual income tax rates from 5.50% to 4.75% for most filers, providing direct tax relief and aligning with fiscal responsibility indicators.95% confidence

Sub-Topics Business Taxes Income Tax

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