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Bill > HB1039
OK HB1039
OK HB1039Revenue and taxation; franchise tax; removing levy of tax after certain year; effective date; emergency.
summary
Introduced
05/17/2023
05/17/2023
In Committee
05/23/2023
05/23/2023
Crossed Over
05/24/2023
05/24/2023
Passed
05/26/2023
05/26/2023
Dead
Signed/Enacted/Adopted
06/12/2023
06/12/2023
Introduced Session
2023 First Special Session
Bill Summary
Revenue and taxation; franchise tax; removing levy of tax after certain year; effective date; emergency.
AI Summary
This bill removes the franchise tax levy for corporations, associations, joint-stock companies, and business trusts starting in the 2024 tax year. The bill also amends the existing law to specify that the franchise tax will only apply for the 2023 and previous tax years. The bill becomes effective on July 1, 2023, and contains an emergency clause to make it effective immediately upon passage and approval.
Committee Categories
Budget and Finance
Sponsors (7)
Roger Thompson (R)*,
Kevin Wallace (R)*,
Chuck Hall (R),
Neil Hays (R),
Gerrid Kendrix (R),
Mark Lepak (R),
Ryan Martinez (R),
Last Action
Becomes law without Governor's signature 06/02/2023 (on 06/12/2023)
Official Document
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