OK HB1002

Changes effective date for new individual income tax rates from January 1, 2024 to January 1, 2023.

Reduces top marginal individual income tax rate from 0.25% to 0.00% on first $1,000 (single filers) and first $2,000 (joint filers).

Reduces subsequent tax bracket rates by 0.25 percentage points across all income brackets for both single and married filing jointly taxpayers.

Maximum top rate reduced from 4.75% to 4.50% on remainder of taxable income for all individual filers.

No deduction for federal income taxes paid allowed for any taxpayer calculating taxable income.