Loading chat...
OK SB1632
Bill
Status
2/6/2012
Primary Sponsor
Bryce Marlatt
Click for details
AI Summary
-
Provides a one-time income tax credit of $5,000 per qualified veteran employed by eligible Oklahoma businesses, effective for tax years beginning January 1, 2013
-
Defines "qualified veteran" as anyone honorably discharged within 12 months from active duty with U.S. Armed Forces or Oklahoma National Guard, employed full-time for at least 12 months
-
Limits "qualified Oklahoma employer" to businesses domiciled in Oklahoma with no more than 50 average full-time employees over the preceding 4 quarters that employ qualified veterans
-
Credit cannot reduce employer's tax liability below zero and is applied against income tax imposed under Oklahoma Statutes Section 2355
-
Act becomes effective November 1, 2012
Legislative Description
Income tax; providing tax credit for employment of qualified veteran; limiting amount and use of credit. Effective date.
Revenue and Taxation
Last Action
Second Reading referred to Finance
2/7/2012