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OK SB2121

Bill

Official Source

Status

Introduced

2/1/2010

Primary Sponsor

John Sparks

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Origin

Senate

2010 Regular Session

AI Summary

  • Adds new paragraph 23 to Oklahoma income tax code exempting amounts received as overtime compensation required by the Fair Labor Standards Act from taxable income for tax years beginning after December 31, 2010.

  • Exemption applies to overtime pay mandated under the federal Fair Labor Standards Act of 1938, 29 U.S.C. Section 201 et seq.

  • Effective January 1, 2011.

Legislative Description

Revenue and taxation; providing for income tax exemption for income received as overtime pay. Effective date.

Revenue and Taxation

Last Action

Second Reading referred to Finance

2/2/2010

Committee Referrals

Finance2/2/2010

Full Bill Text

No bill text available