Oklahoma Bar Journal

2021 Oklahoma Tax Legislation

By Sheppard F. Miers Jr.

The following is a summary of some of the changes in Oklahoma law on state taxation enacted by the Oklahoma Legislature in its 2021 session.

 

 

 

The Oklahoma privilege tax on the amount of taxable income of every state banking association, national banking association and credit union organized under laws of the state, located or doing business in the state, was reduced from 6% to 4% for taxable years beginning after Dec. 31, 2021.3
 

 

 

The definitions of terms applicable to the Oklahoma income tax credit allowed for businesses and public organizations engaged in business and activities in the aerospace sector were amended. The definitions of “qualified employee” and “qualified program,” as used in the provisions allowing the credit, were amended.8

A state income tax deduction for donations from a tax refund for the benefit of programs to recruit, train and supervise volunteers as court-appointed advocates was amended to reauthorize the donation, effective Jan. 1, 2022.12
 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Motor Fuel Tax Code was amended to extend the requirement of pre-collection and remittance of the motor fuel tax by each supplier and bonded importer who sells motor fuel until July 1, 2024.48

VEHICLE TRANSFER TAX

 

 

 

An act to be known as the “Peer-to-Peer Car Sharing Program Act” was enacted providing rules for a peer-to-peer car sharing program that is a business platform connecting vehicle owners with drivers to enable sharing of vehicles for financial consideration. The provisions of the motor vehicle rental tax were amended to provide for circumstances under which the tax shall be levied or applied to shared vehicles as defined in the Peer-to-Peer Car Sharing Program Act.52

MUNICIPAL TAXES

 

 

 

 

The statute providing for court fines and costs to be deducted from individual income tax refunds was amended.60

ECONOMIC DEVELOPMENT

 

Sheppard F. Miers Jr. is a shareholder at the Tulsa office of GableGotwals and practices in the areas of federal, state and local taxation.

  1. HB 2962, amending 68 O. S. Supp. 2020, §2355; effective Jan. 1, 2022.
  2. HB 2960, amending 68 O. S. Supp. 2020, §2355; effective Jan. 1, 2022.
  3. HB 2961; amending 68 O. S. Supp. 2020, §2370; effective Jan. 1, 2022.
  4. HB 2963, amending 68 O. S. Supp. 2020, §2355.1P-4; effective Jan. 1, 2022.
  5. HB 2962, amending 68 O. S. Supp. 2020, §2357.43; effective Jan. 1, 2022.
  6. SB 1080, amending 68 O. S. Supp. 2020, §2357.206; effective Nov. 1, 2021.
  7. HB 2178, amending 68 O. S. Supp. 2020, §2358; effective Nov. 1, 2021.
  8. SB 893, amending 68 O. S. Supp. 2020, §2357.301; effective Nov. 1, 2021.
  9. SB 915. Adding 68 O. S. 2021, §2358.110; effective Nov. 1, 2021.
  10. SB 905, adding 68 O. S. 2021, §2357.406; effective Nov. 1, 2021.
  11. SB 436, amending 68 O. S. Supp. 2020, §2368.17; effective Nov. 1, 2021.
  12. SB 379, amending 68 O. S. Supp. 2020, §2368.12; effective Jan. 1, 2022.
  13. SB 601, amending 68 O. S. Supp. 2020, §2368; effective May 7, 2021.
  14. SB 601, amending 68 O. S. Supp. 2020, §217; effective May 7, 2021.
  15. SB 601, amending 68 O. S. 2011, §2385.13; effective Nov. 1, 2021.
  16. HB 2894, amending 68 O. S. Supp. 2020, §2352; effective July 1, 2021.
  17. HB 1060, amending 68 O. S. 2011, §1360; effective Nov. 1, 2021.
  18. HB 2946, amending 68 O. S. Supp. 2020, §1357, and adding 68 O. S. 2021, §1357.21; effective July 1, 2021.
  19. SB 422, amending 68 O. S. 2011, §1358.1; effective July 1, 2021.
  20. HB 1588, amending 68 O. S. Supp. 2020, §1357; effective Jan. 1, 2022.
  21. SB 415, amending 68 O. S. Supp, 2020, §1357, 68 O. S. Supp. 2020, §205 and 72 O. S. Supp. 2020, §421; effective April 28, 2021.
  22. SB 265, amending 68 O. S. Supp. 2020, §1356; effective Nov. 1, 2021.
  23. SB 909, amending 68 O. S. Supp. 2020, §1356; effective Nov. 1, 2021.
  24. HB 1935, amending 68 O. S. Supp. 2019, §1356; effective Nov. 1, 2021.
  25. HB 1935, amending 68 O. S. Supp. 2020, §1356; effective Nov. 1, 2021.
  26. HB 2949, amending 68 O. S. Supp. 2020, §1356; effective July 1, 2021.
  27. HB1566, amending 68 O. S. Supp.2020, §1354; effective Nov. 1, 2021.
  28. HB 2894, amending 68 O. S. Supp. 2020, §§1353, 1403; effective July 1, 2021.
  29. SB 181, amending 68 O. S. 2011, §2913; effective Nov. 1, 2021.
  30. SB 609, amending 68 O. S. Supp. 2020, §2902; effective Nov. 1, 2021.
  31. HB 2297, amending 68 O. S. 2011, §2808, effective Nov. 1, 2021.
  32. HB 2775, amending 68 O. S. Supp. 2020, §2802; effective Nov. 1, 2021.
  33. HB 2775, amending 68 O. S. Supp. 2020, §2875; effective Nov. 1, 2021.
  34. HB 1009, amending 68 O. S. Supp. 2020, §2890; effective Jan. 1, 2022.
  35. HB 1062, amending 68 O. S. Supp. 2020, §2888; effective Jan. 1, 2022.
  36. HB 1643, amending 68 O. S. Supp. 2020, §2899.1; effective Nov. 1, 2021.
  37. HB 2362, amending 68 O. S. Supp. 2020, §3131, effective Nov. 1, 2021.
  38. HB 1749, amending 68 O. S. Supp. 2020, §3129; effective Nov. 1, 2021.
  39. HB 1153, amending 68 O. S. 2011, §2812; effective Nov. 1, 2021.
  40. HB 2805, amending 68 O. S. Supp. 2020, §2807.1; effective Jan. 1, 2022.
  41. SB 483, amending 68 O. S. Supp. 2020, §2862, and 68 O. S. Supp. 2020, §3006; effective Nov. 1, 2021.
  42. HB 1990, amending 62 O. S. Supp. 2020, §193; effective Nov. 1, 2021.
  43. SB 1059, amending 68 O. S. Supp. 2020, §§1101, 1102 and 1103; effective July 1, 2021.
  44. HB 2234, adding 68 O. S. 2021, §§6501-6512; amending 47 O. S. Supp. 2020, §1141.1; amending 68 O. S. Supp. 2020, §1355; effective Nov. 1, 2021; SB 600, amending Enrolled HB 2234; effective Nov. 1, 2021.
  45. HB 2234, adding 68 O. S. 2021, §6511; effective Nov. 1, 2021.
  46. HB 2234, adding 68 O. S. 2021, §6510; effective Nov. 1, 2021.
  47. HB 2234, amending 68 O. S. Supp. 2020, §1355; effective Nov. 1, 2021.
  48. SB 298, amending 68 O. S. Supp. 2020, §500.22; effective Nov. 1, 2021.
  49. HB 2964, amending 68 O. S. Supp. 2020, §2103; effective Nov. 1, 2021.
  50. SB 998, adding 68 O. S. 2021, §1105A; effective Nov. 1, 2021.
  51. sB 273; adding 42 O. S. 2021, §90; effective Jan. 1, 2022.
  52. SB 355, amending 68 O. S. Supp. 2020, §2110; effective Nov. 1, 2021.
  53. SB 825, amending 68 O. S. 2011, §2701; effective Nov. 1, 2021.
  54. HB 1712; enacting uncodified findings and declaration of the Legislature, adding 69 O. S. 2021, §§1931, and 1932; effective Nov. 1, 2021.
  55. HB 2292, adding 68 O. S. 2021, §§400-400.6; effective July 1, 2021.
  56. HB 2292, amending 68 O. S. 2011, §§401, 68 O. S. Supp. 2020, §402-1, 68 O. S. 2011. §403, 403.1, 403.2, 407, 68 O. S. Supp.2020, §§412, 413, 68 O. S. 2011, §§414, 415, 68 O. S. Supp. 2020, §§417, 418, 68 O. S. 2011. 420.1, 421, 422, 426; repealing 68 O. S. 2011, §§406, 408, 409 and 411; effective July 1, 2021.
  57. SB 1078, amending 68 O. S. 2011, §§401, 402-1,402-3, 412, 413, 414, 418, as last amended by HB 2292 (2021); amending 68 O. S. Supp. 2020, §§402, 402-3; effective July 1, 2021.
  58. SB 1033, amending Section 7, State Question No. 788, Initiative Petition No. 412 (63 O. S. Supp. 2020, §426 and adding 68 O. S. 2021, §255.2; effective May 28, 2021.
  59. HB 2780, amending 68 O. S. Supp. 2020, §§227 and 253; 68 O. S. 2011, §§254, 1361.2 and 1501; and 68 O. S. Supp. 2020, §§2947.1-2947.3; 68 O. S. 2011, §§3204, 3624; effective Nov. 1, 2021.
  60. SB 343, amending 68 O. S. Supp. 2020, §205.2; effective Nov. 1, 2021.
  61. HB 1121, amending 68 O. S. Supp. 2020, §§4301, 4303, 4304 and 4305; effective April 21, 2021.
  62. HB 2860, adding 68 O. S. 2021, §§4501-4510; effective July 1, 2021.
  63. SB 608, adding 68 O. S. 2021, §§3631-3641 and amending 68 O. S. 2011, §2352; effective July 1, 2021.
  64. SB 739, amending 68 O. S. Supp. 2020, §§2393-2397; effective Nov. 1, 2021.

Originally published in the Oklahoma Bar Journal – OBJ 92 Vol 7 (September 2021)

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