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Schedule

Oklahoma Tax Commission

Oklahoma Capital Gain Deduction

Estimated Incentive Cost

$114,835,000

Program Type

Deduction

Citation

68 O.S. sec. 2358

Industry

None

Review Year

2
Oklahoma Department of Commerce

Quality Jobs Program

Estimated Incentive Cost

$73,183,283

Program Type

Rebate

Citation

68 O.S. sec. 3601

Industry

Various

Sunset

None Found

Review Year

2
An incentive for companies to expand or relocated jobs to Oklahoma by providing a rebate of a portion of newly created payroll in the state. Companies may receive benefits during the first 3 years of participation while working to achieve the required payroll threshold for full qualification.
Oklahoma Department of Commerce

Energy Efficient Residential Construction Tax Credit

Estimated Incentive Cost

$4,876,495

Program Type

Tax credit

Citation

68 O.S. sec.2357.46

Industry

Residential

Sunset

None Found

Review Year

3
An income tax credit, not to exceed $4,000, is allowed for eligible expenditures incurred by a contractor in the construction of energy efficient residential property of 2,000 square feet or less. Unused credit may be carried over for a period of 4 years. This credit is transferable.
Oklahoma Department of Commerce

Small Business Incubators - Sponsors

Estimated Incentive Cost

N/A

Program Type

Tax Exemption

Citation

74 O.S. sec.5075 AND 68 O.S. sec.2359.E

Industry

Small Business

Sunset

None Found

Review Year

3
Income earned by a small business incubator sponsor from rental and service fees is exempt from income tax. This exemption is available for a period up to 10 years.
Oklahoma Department of Commerce

Small Business Incubators - Tenants

Estimated Incentive Cost

$4,788,059

Program Type

Tax Exemption

Citation

74 O.S. sec.5078 AND 68 O.S. sec.2359.E

Industry

Small Business

Sunset

None Found

Review Year

3
Tenants of small business incubators are exempt from income tax on the income earned as a result of the occupancy in the incubator. This exemption is available for a period up to 10 years.
Oklahoma Tax Commission; Oklahoma Center for Advancement of Science and Technology

Incentives for Inventors

Estimated Incentive Cost

N/A

Program Type

Tax Exemption

Citation

74 O.S. sec.5064.7

Industry

Innovation

Sunset

None Found

Review Year

3
Royalty income is exempt from state income taxes for a period of 7 years upon certain products developed and manufactured in Oklahoma. Further, manufacturers may qualify for the Oklahoma Investment/New Jobs Credit (68 O.S. sec.2357.4) and an income exclusion of 65% of depreciable property purchased and directly used in manufacturing the product not to exceed $500,000.
Oklahoma Tax Commission

New Products Development Income Tax Exemption

Estimated Incentive Cost

N/A

Program Type

Tax exemption

Citation

74 O.S. sec. 5064.7

Industry

Innovation

Sunset

None Found

Review Year

3
Royalty income is exempt from state income taxes for a period of 7 years upon certain products developed and manufactured in Oklahoma. Further, manufacturers may qualify for the Oklahoma Investment/New Jobs Credit (68 O.S. sec.2357.4) and an income exclusion of 65% of depreciable property purchased and directly used in manufacturing the product, not to exceed $500,000.
Oklahoma Tax Commission

Technology Transfer Income Tax Exemption

Estimated Incentive Cost

N/A

Program Type

Tax exemption

Citation

68 O.S. sec. 2358 [C]

Industry

Technologies, intellectual property

Sunset

None Found

Review Year

3
The taxable income is decreased for transfers of technology to qualified small businesses located in Oklahoma. The corporation transferring the technology is allowed an exemption from taxable income in the amount of the royalty payment received as result of such transfer, provided that the exempted amount shall not exceed 10% of the amount of gross proceeds received by such corporation as a result of the technology transfer. The benefit lasts for 10 years from the date of the receipt of the first royalty payment accruing such transfer.
Oklahoma Tax Commission

Investment/New Jobs Tax Credits

Estimated Incentive Cost

$56,744,407

Program Type

Tax credit

Citation

68 O.S. sec.2357.4

Industry

Various

Sunset

None Found

Review Year

3
An income tax credit is allowed for either an investment in depreciable property used in a manufacturing or processing facility or for a net increase in average levels of employment in said facilities. Any credit allowed but not used may be carried over in order to each of the 4 years following the year of qualification and, to the extent not used in those years, in order to each of the 15 years following the initial 5 year period.
Oklahoma Department of Agriculture, Food, & Forestry

Basic and Applied Research Loan/Grant

Estimated Incentive Cost

N/A

Program Type

Loan/Loan Participation

Citation

2 O.S.sec.5-3.1

Industry

Various

Sunset

None Found

Review Year

3
The purpose of the Oklahoma Agriculture Enhancement and Diversification Program is to promote and encourage the interests of agriculture through the allocation of funds, by grant or loan, to individuals, cooperatives and other agricultural entities to provide assistance to projects dealing with eh development of new or expanded uses of agriculture products, and to increase productivity and added value of agricultural products.

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