Revenue and taxation; Oklahoma taxable income and adjusted gross income; exemption; retirement income; effective date.

HB 2190 modifies Oklahoma's tax calculation rules for both individuals and corporations. It requires adding certain state/local interest income to taxable income, adjusts how federal net operating losses are applied (including new rules for carrybacks), and clarifies how income from property and business activities is allocated for tax purposes. These changes directly affect all Oklahoma taxpayers by altering how their taxable income is calculated under state law. The bill updates existing tax code provisions to align with federal rules while maintaining Oklahoma's specific tax treatment for different income sources.