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Bill > SB626
OK SB626
OK SB626Income tax; exempting gambling losses from limitation on itemized deductions. Effective date.
summary
Introduced
02/06/2023
02/06/2023
In Committee
03/01/2023
03/01/2023
Crossed Over
Passed
Dead
05/31/2024
05/31/2024
Introduced Session
2023 Regular Session
Bill Summary
income tax - taxable income - gross income - exemption - effective date
AI Summary
This bill exempts gambling losses from the limitation on itemized deductions for Oklahoma income tax purposes, effective November 1, 2023. The bill amends the Oklahoma Income Tax Act to allow individual taxpayers to deduct gambling losses, which were previously subject to the $17,000 cap on itemized deductions.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
(on 01/01/1900)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb626&Session=2400 |
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb626&Session=2300 |
| BillText | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20FLR/SFLR/SB626%20SFLR.PDF |
| Fiscal Note/Analysis - Senate: SB626 INT FI | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20SUPPORT%20DOCUMENTS/impact%20statements/fiscal/Senate/SB626%20INT%20FI.PDF |
| Fiscal Note/Analysis - Senate: Introduced | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20SUPPORT%20DOCUMENTS/BILLSUM/Senate/SB626%20INT%20BILLSUM.PDF |
| BillText | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20INT/SB/SB626%20INT.PDF |
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