Revenue and taxation; individual income tax; rates; brackets; standard deduction amounts; effective date.

HB 1788 amends Oklahoma's individual income tax rates for taxable years beginning in 2024 and ending in 2025. It lowers tax brackets across the board, reducing the top marginal rate from 5.5% to 4.75% for single filers and married couples filing jointly. The bill also eliminates the deduction for federal income taxes paid when calculating taxable income. These changes directly affect all Oklahoma individual taxpayers filing state income tax returns during the 2024-2025 tax years.