Revenue and taxation; income tax; deduction; potable water; natural gas; electricity; effective date.

Summary

The bill revises Oklahoma’s income‑tax rules by adding certain state‑interest income, adjusting how federal net operating loss deductions are applied, and establishing new allocation formulas for different types of income. It affects both corporations and individuals who file Oklahoma tax returns, potentially altering the amount of tax they owe. The changes are intended to align state tax calculations with specific income sources and location‑based rules.

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

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