Bill > SB299

This bill modifies the Oklahoma income tax code by making several technical amendments to Section 2358 of the state's tax statutes. The key changes include updating references from "Federal" to "United States" and from "State" to "Oklahoma" throughout the document, and inserting references to the Internal Revenue Code of 1986, as amended, in various sections. These modifications primarily update terminology and ensure consistent language across the tax code. The bill also adds clarifying language about specific tax provisions related to income calculations, deductions, and apportionment factors for both individual and corporate taxpayers. The changes appear to be mostly technical in nature, aimed at improving legal precision and consistency in the state's tax code, with no substantial changes to the underlying tax policy. The bill will become effective on November 1, 2025, providing taxpayers and tax authorities advance notice of the updated language.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb299&Session=2500