On May 25, 2023, Oklahoma legislation passed the “Oklahoma Parental Choice Tax Credit Program,” which will go into effect in the 2024 tax year. This program provides a refundable tax credit ranging from a minimum of $5,000 to a maximum of $7,500 per child per year for qualified expenses, depending on the parent’s level of income. Any student who is enrolled full-time in an accredited private 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. Qualified expenses include the tuition and fees incurred from enrollment in the private school. Participating taxpayers are required to submit an affidavit from the institution their child is enrolled in (or will be enrolled in) and to provide proof of the student’s tuition and fees. 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.