Income tax; modifying income tax rates for certain years; eliminating certain duties of Board of Equalization. Effective date.

SB 2156 modifies Oklahoma's individual income tax rates for 2024 and 2025, lowering the top tax rate to 4.75% for single filers and 3.75% for married couples filing jointly on income above specific thresholds. The bill affects all Oklahoma residents and nonresidents with taxable income who file individual tax returns. It also eliminates certain duties previously required of the State Board of Equalization. The changes apply only to tax returns filed for 2024 and 2025.