For tax years beginning after December 31, 2001, there shall be allowed to a resident individual or a part-year resident individual as a credit against the tax imposed by Section 2355 of this title five percent (5%) of the earned income tax credit allowed under Section 32 of the Internal Revenue Code of the United States, 26 U.S.C., Section 32. However, this credit shall not be paid in advance pursuant to the provisions of Section 3507 of the Internal Revenue Code. For tax years which begin before January 1, 2016, if the credit exceeds the tax imposed by Section 2355 of this title, the excess amount shall be refunded to the taxpayer. The maximum earned income tax credit allowable on the Oklahoma income tax return shall be prorated on the ratio that Oklahoma adjusted gross income bears to the federal adjusted gross income.
Added by Laws 2001, c. 383, § 1, eff. July 1, 2001. Amended by Laws 2016, c. 341, § 1, eff. Nov. 1, 2016.
NOTE: Editorially renumbered from Section 2357.42 of this title to avoid a duplication in numbering.
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