SB383 Summary

• Amends Oklahoma income tax law (68 O.S. 2021, Section 2358) to update statutory language and references throughout the income tax adjustment provisions

• Changes terminology from "Federal" to "United States" and from "Oklahoma" to "this state" in multiple sections for consistency and clarity

• Updates references to federal Internal Revenue Code sections to clarify "as amended" language in various tax deduction and exemption provisions

• Makes technical corrections to existing income tax adjustments related to capital gains, retirement benefits, armed forces compensation, and various business deductions

• Effective date: November 1, 2025