OK HB2840

Provides a $1,500 income tax credit for Oklahoma National Guard members who reside outside a fifty-mile radius from their assigned home station, effective for taxable years beginning January 1, 2026.

Credit cannot be used to reduce income tax liability below zero.

Unused credit may be carried forward to each of the five subsequent taxable years.

New law to be codified as Section 2357.701 of Title 68 of the Oklahoma Statutes.

Act becomes effective November 1, 2025.