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OK SB260

Bill

Official Source

Status

Introduced

2/4/2013

Primary Sponsor

Kyle Loveless

Click for details

Origin

Senate

2013 Regular Session

AI Summary

  • Amends 68 O.S. 2011, Section 2358 to add a new paragraph exempting certain prizes and awards from Oklahoma state income tax

  • For taxable years beginning after December 31, 2012, the value of any prize or award won by a taxpayer in athletic competition in the Olympic Games is exempt from taxable income

  • Creates a special tax exemption specifically for Olympic athletic competition prizes/awards, treating them similar to scholarship amounts

  • Effective date of the bill is November 1, 2013

Legislative Description

Income tax; providing exemption for prize or award resulting from Olympic competition. Effective date.

Revenue and Taxation

Last Action

coauthored by Turner (principal House author)

2/18/2013

Committee Referrals

Finance2/5/2013

Full Bill Text

No bill text available