Adoption Tax Credit Increase in Oklahoma HB2610
In a significant move to aid adoptive families, Oklahoma has enacted House Bill 2610, designed to lessen the financial burden of adoption. This legislation is an important step forward, increasing the tax credit available for non-recurring adoption-related expenses, including legal fees and court costs related to the legal adoption process.
The updated law raises the tax credit for eligible adoption expenses to 15%. Single filers may be eligible to claim up to $3,000, and joint filers may be eligible to claim up to $6,000. These changes enhance the financial framework for adoptive families and families considering adoption. By reducing financial hurdles, this legislation aims to make adoption more accessible to Oklahoma families and ensure more children can find permanent, loving homes.
Navigating these new tax credit changes can be complex. We advise prospective adoptive parents to consult with a CPA to accurately determine tax credit eligibility. Set to take effect on January 1, 2026, these changes offer new opportunities for families committed to adoption.
For personalized guidance on adoption processes and legal advice tailored to your needs, reach out to The Law Office of Shannon D. Taylor. Our firm is dedicated to supporting families through comprehensive legal services for Oklahoma adoptions.
