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Bill > HB3603
OK HB3603
OK HB3603Revenue and taxation; income tax; taxable income; business entities; computation; effective date.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act relating to revenue and taxation; amending 68 O.S. 2021, Section 2358, as last amended by Section 155, Chapter 452, O.S.L. 2024 (68 O.S. Supp. 2025, Section 2358), which relates to adjustments to taxable income and adjusted gross income; modifying provisions related to certain factor based on situs of tangible personal property; and providing an effective date.
AI Summary
This bill, effective January 1, 2027, amends existing Oklahoma law regarding income tax adjustments for businesses and individuals, primarily by modifying how certain business property is factored into tax calculations. Specifically, it changes provisions related to a "factor based on situs of tangible personal property," which refers to how the location of a business's physical assets within or outside of Oklahoma influences the portion of its income subject to state income tax. The bill aims to update these calculations, ensuring that the state's tax code accurately reflects the economic activity within Oklahoma.
Sponsors (1)
Last Action
Second Reading referred to Rules (on 02/03/2026)
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=hb3603&Session=2600 |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/hB/HB3603%20INT.PDF |
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