On May 25, 2023, Oklahoma legislation passed the “Oklahoma Parental Choice Tax Credit Program.” This Program will go into effect in the 2024 tax year. Any student who is eligible to enroll in a public school in the state of Oklahoma will qualify, however, the child must be four years of age or older by September 1st of the preceding tax year. This credit provides a refundable tax credit of $1,000 per student for qualified expenses, regardless of the taxpayer’s income. Qualifying expenses include but are not limited to, tuition and fees, tutoring, curriculum materials, textbook, standardized test fees, and instructional materials. There is still no exhaustive list of what “qualified expenses” are but should be prescribed soon by the OTC. Participating taxpayers will submit an affidavit from the institution their child is enrolled in or will be enrolled in and are required to provide proof of the student’s expenses. Because this is a refundable tax credit, if any amount of the credit exceeds taxes owed, the excess amount will be refunded to the taxpayer by either direct deposit or in the form of a debit card.