Representative Cody Maynard

R

District 21

Hi, I'm Cody Maynard and I represent the people of Oklahoma's 21st District.


representative

News & Announcements

Mar 6, 2024
Recent Posts

House Passes Tax Credit for Donations Supporting Pregnancy Centers

The Oklahoma House of Representatives today passed a bill to introduce a temporary income tax credit for donations to qualified pregnancy resource centers. Rep. Cody Maynard, R-Durant, authored House Bill 1788, which would establish an income tax credit equal to 70 percent of a donation amount contributed to pregnancy resource centers until the tax year 2028. "Our pregnancy resource centers play a crucial role in providing vital services to our communities in Oklahoma," Maynard said. "This new legislation is proactive in promoting a culture that values and safeguards human life. Supporting these centers demonstrates our community's tangible commitment to assisting new mothers and protecting the lives of their unborn children." The tax credit is limited to $50,000 per taxpayer annually and capped at $5 million in yearly claims. The credit may be claimed beginning tax year 2024 and has a five-year sunset. Under the measure, the director of the Department of Human Services is required to identify facilities that may qualify as pregnancy resource centers based on a set of criteria. HB1788 passed the House 76 - 18. The bill passed with its title off, so it will return to the House for another vote after passing in the Senate.

Oct 16, 2023
Recent Posts

Maynard Submits Comments and Concerns to OTC

OKLAHOMA CITY – Rep. Cody Maynard, R-Durant, submitted comments and concerns to the Oklahoma Tax Commission concerning the proposed rules regarding House Bill 1934's Parental Choice Tax Credit. "House Bill 1934 was intended to create a tax credit and not a voucher system in Oklahoma, yet the drafted rules have many voucher-like qualities," Maynard said. "Having submitted these comments, I hope to ensure that our wishes as a legislature are carried out and that a true tax credit is implemented rather than a voucher-style system." In Maynard's submission, he outlined five significant issues in the proposed rules and requested that they be addressed and modified before the program goes live in December of this year. He asked for the following: Remove the reporting burden on schools. Eliminate the excessive and cumbersome IRS involvement. Provide a way to redeem tax credits when filing a regular tax return, which is not allowed under the existing proposed rules. Streamline and simplify the reporting process for parents. Align payments with the traditional school year, not just the tax year, so parents receive their money on time. "By proactively addressing the outlined issues, we have the opportunity to establish a tax credit system in Oklahoma that genuinely serves the best interests of families," Maynard said. "I am optimistic that the Oklahoma Tax Commission will see the value in the proposed changes."  Maynard is a CPA and a member of the Oklahoma House of Representatives A&B Education Subcommittee.

Mar 14, 2023
Recent Posts

Maynard Passes Bills Removing Marriage Penalty, Corporate Throwback Rules

OKLAHOMA CITY – Rep. Cody Maynard, R-Durant, advanced two bills in the Oklahoma House of Representatives. On Monday, Maynard passed House Bill 2697, which would remove the marriage penalty in the Oklahoma tax code. HB2697 is a provision in Oklahoma's current tax code that penalizes married couples in certain circumstances. These marriage penalties occur when the tax liability for a married couple filing jointly is higher than the combined tax liability of two individuals filing separately. "It is common sense: marriage should not penalize any taxpayer," Maynard said. "I am running this bill to ensure Oklahoma's tax code supports families and pro-family policies." Oklahoma is one of only 15 states with a marriage penalty in the tax code. It would change the 3.75% tax bracket from $2,400 to $4,600 so that two individuals filing taxes separately would pay the same amount as a married couple reporting the same total combined income. HB2697 passed the House 93-0. House Bill 1645, approved Monday, would repeal the corporate "throwback rule" in Oklahoma's tax code. The "throwback rule" punishes businesses that sell out of state, encouraging them to relocate their headquarters or distribution facilities to other states. Over time, tax avoidance strategies eliminate most or all revenue gains from throwback rules. "Throwback rules are often uncompetitive and ultimately counterproductive," Maynard said. "Eliminating this rule will strengthen Oklahoma's economy and prevent avoidance and restructuring issues in the future." Oklahoma is one of 21 states with a throwback rule. HB1645 passed the House 87-5. Both pieces of legislation now move to the Senate to await committee assignments.