Budget & Taxes (Income Tax)

in committee · Oklahoma · Senate Feb 4, 2025

SB 286: Income tax; providing credit for certain pro bono counsel. Effective date.

SB 286 creates a refundable income tax credit for Oklahoma attorneys who provide free legal services to adoptive parents. Specifically, attorneys can claim a 50% credit against their state income tax for court-approved fees paid for adoption-related legal work that results in a final adoption decree. If the credit exceeds the taxpayer’s income tax liability, the excess amount is refunded. The credit applies to tax years starting in 2026 and requires the Oklahoma Tax Commission to establish verification rules.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates refundable income tax credit (50% of fees) for attorneys aiding adoptive parents, reducing state tax revenue as tax relief. Directly impacts tax policy per topic definition.85% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 4, 2025

SB 51: Income tax credit; providing credit for the purchase of an e-bike. Effective date.

SB 51 provides a $200 one-time income tax credit for Oklahoma taxpayers who purchase a qualifying e-bike for use on streets and roads. The credit applies to tax years starting in 2026 and is refundable if it exceeds the taxpayer's income tax liability. It defines "e-bike" as a two- or three-wheeled electric vehicle capable of exceeding 15 mph (excluding standing electric scooters). The bill takes effect November 1, 2025, directly benefiting residents who buy eligible e-bikes.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides refundable $200 income tax credit for e-bike purchases, reducing tax liability for eligible taxpayers and aligning with tax relief indicators.95% confidence ✓ EnergySupports EnergyPromotes electric transportation, reducing fossil fuel dependence and supporting energy efficiency through e-bike tax credit85% confidence ✓ EnvironmentSupports EnvironmentPromotes clean transportation via e-bike tax credit, reducing vehicle emissions and supporting climate goals through incentivized adoption of low-emission vehicles.95% confidence ✓ TransportationSupports TransportationPromotes sustainable transportation by incentivizing e-bike purchases via tax credit, aligning with sustainable transport indicators in the topic description.90% confidence

Sub-Topics Income Tax Tax Credits Electric Vehicles Electric Vehicles

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passed · Oklahoma · Senate Apr 17, 2025

SB 304: Income tax; limiting certain personal exemption to certain tax years; modifying amount of standard deduction for certain tax years. Effective date.

SB 304 modifies Oklahoma's individual income tax structure for the 2024 tax year. It establishes new tax brackets with lower rates (0.25% to 4.75% for single filers, 0.25% to 4.75% for married couples filing jointly) compared to prior years, replacing older rates. The bill also limits certain personal exemptions to specific tax years and adjusts standard deduction amounts. These changes directly affect all Oklahoma residents filing individual income tax returns for 2024. The bill updates statutory references and language but does not create new taxes.

Topics ✓ Budget & TaxesSupports Budget & TaxesLowers 2024 income tax brackets (0.25%-4.75%) compared to prior years, providing tax relief to Oklahoma residents filing individual returns.95% confidence

Sub-Topics Business Taxes Income Tax

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in committee · Oklahoma · Senate Feb 3, 2026

SB 1388: Income tax credit; providing refundable child tax credit; making child care credit refundable. Effective date.

SB 1388 creates a refundable child tax credit for Oklahoma families with children under 19. It provides $500 per child for taxpayers with adjusted gross income of $70,000 or less, phasing out by $0.15 for every $10 of income above that threshold, and eliminating eligibility above $100,000. The credit applies to tax years beginning in 2027 and is refundable, meaning eligible taxpayers receive a cash payment even if they owe no state income tax. Married filers must include spousal income to determine eligibility and credit amount. This bill directly affects low-to-moderate-income Oklahoma families with qualifying children.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides refundable tax relief for lower/middle-income families ($70k AGI threshold), directly advancing fiscal support through targeted child tax credits per bill summary.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 4, 2025

SB 343: Income tax; providing credit for certain workplace clothing. Effective date.

SB 343 creates a refundable income tax credit for Oklahoma employees required to purchase specific safety or work-related clothing. The credit covers up to $100 per year for items like steel-toed boots, helmets, high-visibility vests, or protective eyewear mandated by employers. If the credit exceeds the employee's tax bill, the excess is refunded directly. The policy applies starting with tax year 2026, effective November 1, 2025. This directly benefits workers in safety-sensitive jobs who bear these costs.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides refundable tax credit ($100/year) for mandated work clothing, reducing tax burden for employees in safety-sensitive jobs, aligning with tax relief for lower/middle income.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill provides refundable tax credit for mandatory safety/work clothing, reducing worker costs and improving workplace safety compliance, directly protecting workers' rights.90% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 4, 2025

SB 309: Income tax; providing credit for eligible dependent children; stipulating credit amount. Effective date.

SB 309 creates an Oklahoma income tax credit for married couples with dependent children under 19 who qualify for federal dependent status. The credit amount ranges from $500 (for couples married 1-5 years) to $2,000 (for couples married 15+ years) per child, based on marriage duration. Credits are capped at $10,000 for joint filers and $5,000 for separate filers, cannot reduce tax liability below zero, and unused portions may be carried forward for up to five years. This bill directly affects married couples filing jointly or separately with qualifying children, excluding single-parent households.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing liability for families with children, aligning with tax relief for middle-income households per bill's credit structure.95% confidence

Sub-Topics Income Tax Tax Credits

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passed both · Oklahoma · House Apr 14, 2025

HB 1539: Revenue and taxation; individual income tax; rates; brackets; revenue determinations; effective date.

HB 1539 lowers Oklahoma's individual income tax rates for the 2024 tax year. It reduces the top tax rate from 5.50% to 4.75% for most filers, with new brackets starting at 0.25% on the first $1,000 of income (e.g., 0.75% on the next $1,500 for single filers). The bill affects all Oklahoma residents and nonresidents who file individual income tax returns, applying to taxable income earned in 2024. The change eliminates the previous tiered top rate structure and requires no deduction for federal income taxes paid.

Topics ✓ Budget & TaxesSupports Budget & TaxesLowers individual income tax rates for most filers, providing tax relief and reducing the top rate from 5.50% to 4.75%.95% confidence

Sub-Topics Business Taxes Income Tax

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in committee · Oklahoma · Senate Feb 24, 2025

SB 98: Income tax; modifying certain rates, exemptions, and deductions for certain tax years. Effective date. Emergency.

SB 98 modifies Oklahoma's individual income tax rates for the 2024 tax year. It lowers the top marginal tax rate to 4.75% for single filers and similar rates for married couples filing jointly, replacing previous rates of 5.25% or 5.50%. The bill affects all Oklahoma residents and nonresidents filing individual income tax returns for 2024. Key provisions define new tax brackets with reduced rates across income levels, specifically targeting the 2024 tax year. The change applies to taxable income calculated under Oklahoma law for that year.

Topics ✓ Budget & TaxesSupports Budget & TaxesLowers top tax rate for 2024, providing tax relief across income brackets per bill summary.90% confidence

Sub-Topics Business Taxes Income Tax

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in committee · Oklahoma · House Feb 4, 2025

HB 1659: Revenue and taxation; Promote Child Thriving Act; income tax credit; effective date; emergency.

HB 1659 creates an income tax credit for married biological parents of children under 18 living at home. Parents receive $500 per child if married during the tax year, or $1,000 per child if married before the child's birth. To qualify, parents must be legally married for the entire tax year, reside with the child for at least six months (with exceptions for military deployment or newborns), and the child must be their biological child as verified by birth certificate or custody records. The credit cannot reduce tax liability below zero, and unused amounts can be carried forward for up to ten years.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates income tax credit for parents, reducing taxable income for qualifying families, aligning with tax relief indicators.95% confidence

Sub-Topics Income Tax Tax Credits

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in committee · Oklahoma · Senate Feb 4, 2025

SB 101: Income tax; providing credit for certain housing expenses. Effective date.

SB 101 creates an income tax credit for Oklahoma residents paying rent or mortgage on their primary residence. It provides refundable credits ranging from $1,000 to $7,000 based on household income (as a percentage of Oklahoma's state median income) and the number of dependents. The credit applies to tax years starting in 2026, with limits of one credit per residence and refunding excess amounts if the credit exceeds the tax owed. This directly benefits low-to-moderate-income Oklahoma households struggling with housing costs. The bill takes effect November 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates refundable income tax credit for housing expenses, providing relief to low-to-moderate-income households.95% confidence ✓ HousingSupports HousingProvides refundable tax credits for housing expenses, directly increasing affordability for low-to-moderate-income households through income-based credits.95% confidence

Sub-Topics Income Tax Tax Credits Affordable Housing Property Taxes Renters

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