Bill > HB3377

This bill modifies Oklahoma's income tax laws by introducing a new deduction for "qualified tips," which are cash tips received by individuals in occupations that traditionally and customarily receive tips, as determined by the Oklahoma Tax Commission. The Oklahoma Tax Commission will be required to publish a list of these eligible occupations on its website by December 31, 2026. This deduction is capped at $25,000 per taxpayer annually and applies to taxable years beginning on or after January 1, 2027. The bill also specifies that this deduction will not apply to individuals whose compensation from their employer exceeded a certain threshold in the preceding tax year, as defined by federal tax law.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb3377&Session=2600