Bill > SB309

This bill introduces a new tax credit for married couples with dependent children in Oklahoma, designed to provide financial support based on the length of marriage. For tax years starting in 2025, the credit amount ranges from $500 to $2,000 per eligible dependent child, depending on how long the couple has been continuously married: $500 for marriages between 1-5 years, $1,000 for 5-10 years, $1,500 for 10-15 years, and $2,000 for marriages of 15 years or more. An "eligible dependent child" is defined as a natural child under 19 years old who qualifies as a dependent for federal tax purposes. The credit is capped at $10,000 for couples filing jointly and $5,000 for those filing separately, with each spouse in a separate filing receiving 50% of the credit. Importantly, the credit cannot reduce a taxpayer's income tax liability below zero, and any unused credit can be carried forward for up to five subsequent tax years. To claim the credit, taxpayers must submit a form to the Oklahoma Tax Commission that includes details about their marriage, children, and a signed attestation of continuous marriage. The bill becomes effective on November 1, 2025.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb309&Session=2600