Revenue and taxation; income tax; taxable income; business entities; computation; effective date.

Summary

The measure changes how Oklahoma taxable income and adjusted gross income are computed for corporations and individuals. It adds certain interest income, removes amounts the state cannot tax, and updates the treatment of federal net operating loss deductions. It also sets new rules for allocating income based on the location of property and business activities.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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