On 21 May 2021, the Governor Kevin Stitt of the U.S. State of Oklahoma signed into law House Bill No. 2690 and House Bill No. 2693, which provide for a reduction in the income tax rate for corporations and pass-through entities from 6% to 4% with effect for taxable years beginning after 31 December 2021 for corporations and on or after 1 January 2022 for pass-through entities.
The governor also signed House Bill No. 2692, which provides for a 0.25% reduction in all individual income tax b…