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

HB 2190 amends Oklahoma's tax code to adjust how the state calculates taxable income for individuals and corporations, directly affecting taxpayers who file state returns. It modifies rules for deducting federal net operating losses, adjusts income allocation methods for property and business activities (like rental income or partnership sales), and clarifies how retirement income is treated. Key provisions include specifying how losses from out-of-state sources are handled and changing how income from property sales is allocated based on location. The bill does not change tax rates but refines the calculation process for determining Oklahoma taxable income. It is currently in committee review (referred to Appropriations and Budget Subcommittee) and has not yet been enacted.