Income tax; modifying calculation of the Oklahoma earned income tax credit. Effective date.

Also relevant to:Low-income / working-class

Where it is in the process

Plain-English Summary

This bill changes the Oklahoma earned income tax credit. It limits how the credit is calculated for tax years 2022 through 2025, using rules from the 2020 federal income tax year. The bill also clarifies that if the credit is more than the tax owed, the extra amount will be refunded to the taxpayer.

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