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§ 6060.16. Eligibility--Contributions--Exemptions

Oklahoma Statutes AnnotatedTitle 36. Insurance

Oklahoma Statutes Annotated
Title 36. Insurance (Refs & Annos)
Chapter 2. Miscellaneous Provisions
Health Savings Account Act
36 Okl.St.Ann. § 6060.16
§ 6060.16. Eligibility--Contributions--Exemptions
Currentness
A. The provisions of this act1 shall also apply to taxpayers who are not receiving preferred federal tax treatment for a health savings account pursuant to Section 223 of the Internal Revenue Code.2
B. For taxable years beginning after 2005, a resident of Oklahoma or an employer shall be allowed to deposit contributions to a health savings account. The amount of deposit for each year shall not exceed the maximum contribution amount pursuant to Section 223 of the Internal Revenue Code.
C. Except as provided in Section 6060.18 of this title, the following are exempt from taxation under the Oklahoma Income Tax Act:3
1. Principal contributed to and interest earned on a health savings account; and
2. Money reimbursed to an eligible individual or an employee for qualified medical expenses.

Credits

Laws 2005, c. 306, § 3, eff. Nov. 1, 2005; Laws 2007, c. 269, § 2, emerg. eff. June 4, 2007.

Footnotes

1
Title 36, § 6060.14 et seq.
2
26 U.S.C.A. § 223.
3
Title 36, § 2351 et seq.
36 Okl. St. Ann. § 6060.16, OK ST T. 36 § 6060.16
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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