Oklahoma

The domicile or residence of the fiduciary representative does not establish the residence of the estate or trust.

Effective for deaths on or after January 1, 2010, the Oklahoma Estate Tax is repealed.

For taxable year 2025, a tax is imposed upon the Oklahoma taxable income of every individual at the rates of: 0.25% on income to $2,000; 0.75% from $2,001 to $5,000; 1.75% from $5,001 to $7,500; 2.75% from $7,501 to $9,800; 3.75% from $9,801 to $14,400; and 4.75% on income above $14,400, for married individuals filing jointly.

D. Individuals. For tax year 2026 and for subsequent tax years subject to rate reductions as provided by subsection E of this section, a tax is hereby imposed upon the Oklahoma taxable income of every resident or nonresident individual, which tax shall be computed as follows: 1. Single individuals and married individuals filing separately: (a) 0% tax on first $3,750.00 or part thereof, (b) 2.5% tax on the next $1,150.00 or part thereof, (c) 3.5% tax on next $2,300.00 or part thereof, and (d) 4.5% tax on the remainder.

In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.

There shall be added interest income on obligations of any state or political subdivision thereto which is not otherwise exempted pursuant to other laws of this state, to the extent that such interest is not included in taxable income and adjusted gross income.

There shall be added interest income on obligations of any state or political subdivision thereto which is not otherwise exempted pursuant to other laws of this state, to the extent that such interest is not included in taxable income and adjusted gross income.

2. "Internal Revenue Code" means the United States Internal Revenue Code, as the same may be amended or adopted from time to time applicable to the taxable year; and other provisions of the laws of the United States relating to federal income taxes, as the same may be or become effective at any time or from time to time applicable to the taxable year;

2. "Internal Revenue Code" means the United States Internal Revenue Code, as the same may be amended or adopted from time to time applicable to the taxable year; and other provisions of the laws of the United States relating to federal income taxes, as the same may be or become effective at any time or from time to time applicable to the taxable year;

Interest from entities such as FNMA and GNMA does not qualify.

For taxable year 2025, a tax is imposed upon the Oklahoma taxable income of every individual at the rates of: 0.25% on income to $2,000; 0.75% from $2,001 to $5,000; 1.75% from $5,001 to $7,500; 2.75% from $7,501 to $9,800; 3.75% from $9,801 to $14,400; and 4.75% on income above $14,400, for married individuals filing jointly.

Stocks and obligations of the United States Government are exempt from taxation by a State or political subdivision of a State. The exemption applies to each form of taxation that would require the obligation, the interest on the obligation, or both, to be considered in computing a tax.

Any security issued under this chapter by a Federal home loan bank, including the stock thereof, shall be exempt from taxation, except taxes upon real estate, by any State, county, municipality, or local taxing authority.

The mortgages held by the Farm Credit Banks and the notes, bonds, debentures, and other obligations issued by the banks shall be considered and held to be instrumentalities of the United States and, as such, they and the income therefrom shall be exempt from all Federal, State, municipal, and local taxation, other than Federal income tax liability of the holder thereof under the Public Debt Act of 1941 (31 U.S.C. 3124).

In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.

For taxable year 2025, a tax is imposed upon the Oklahoma taxable income of every individual at the rates of: 0.25% on income to $2,000; 0.75% from $2,001 to $5,000; 1.75% from $5,001 to $7,500; 2.75% from $7,501 to $9,800; 3.75% from $9,801 to $14,400; and 4.75% on income above $14,400, for married individuals filing jointly.

1. Single individuals and married individuals filing separately: (a) 0.25% tax on first $1,000.00 or part thereof, (b) 0.75% tax on next $1,500.00 or part thereof, (c) 1.75% tax on next $1,250.00 or part thereof, (d) 2.75% tax on next $1,150.00 or part thereof, (e) 3.75% tax on next $2,300.00 or part thereof, and (f) 4.75% tax on the remainder. 2. Married individuals filing jointly and surviving spouse to the extent and in the manner that a surviving spouse is permitted to file a joint return under the provisions of the Internal Revenue Code of 1986, as amended, and heads of households as defined in the Internal Revenue Code of 1986, as amended: (a) 0.25% tax on first $2,000.00 or part thereof, (b) 0.75% tax on next $3,000.00 or part thereof, (c) 1.75% tax on next $2,500.00 or part thereof, (d) 2.75% tax on next $2,300.00 or part thereof, (e) 3.75% tax on next $4,600.00 or part thereof, and (f) 4.75% tax on the remainder.

2. Married individuals filing jointly and surviving spouse to the extent and in the manner that a surviving spouse is permitted to file a joint return under the provisions of the Internal Revenue Code of 1986, as amended, and heads of households as defined in the Internal Revenue Code of 1986, as amended: (a) 0% tax on first $7,500.00 or part thereof, (b) 2.5% tax on the next $2,300.00 or part thereof, (c) 3.5% tax on next $4,600.00 or part thereof, and (d) 4.5% tax on the remainder.

"Oklahoma taxable income" means "taxable income" as reported (or as would have been reported by the taxpayer had a return been filed) to the federal government, and in the event of adjustments thereto by the federal government as finally ascertained under the Internal Revenue Code, adjusted further as hereinafter provided;