The following changes were made to the Oklahoma tax code for tax year 2022.
The individual income tax rate was reduced by .25% for each tax bracket.
Changes to deductions
- Retirement benefits received from any component of the US Armed Forces can now be 100% excluded.
Changes to credits
- The Oklahoma Earned Income Credit is now a refundable tax credit.
- Oklahoma added the new Verified Blood Donations Credit.
- Contributions to an Eligible Public School Foundation or Public School District Credit can now be used to claim a credit.
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