Oklahoma state tax basis is the Federal Adjusted Gross Income (AGI).

Interest/Divident Income: Exempts U.S. government bonds; exclusion of $100 per person for interest from Oklahoma bank, credit union, or savings and loan.

Rent Income: Certain accelerated depreciation. Deductions for oil and gas depletion.

Capital Gain: Deduction for gains from certain Oklahoma property and stock. 50% exclusion for sales of historic battle site property to the state.

Unemployment Income: Same as federal

Social Security Benefits: All social security income is exempt from state taxes.

State Bond Interest: Taxable except Oklahoma obligations.

Health Savings Accounts: Same as federal.

Disability: Same as federal.

Lottery: Same as federal.

Federal Income Tax: Deductible.

Other Taxes: Deductions for expenses related to the disabled, adoption expenses, contributions to an Oklahoma college savings plan account, contributions to and earnings from an Oklahoma medical savings account, additional federal exemption amounts related to Hurricane Katrina, and political contributions ($100/person).

Check other state tax links below.