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Schedule

Oklahoma Tax Commission

Clean Burning Fuel Vehicle Credit

Estimated Incentive Cost

$8,860,473

Program Type

Tax credit

Citation

68 O.S. sec.2357.22

Industry

Renewable Energy

Sunset

12/31/19

Review Year

2
A one-time income tax credit is allowed for investments in qualified clean-burning motor vehicle fuel property. Depending on the type of property, the credit is either 50% or 75% of the cost of the qualified clean burning motor vehicle fuel property. In cases where no credit is previously claimed and a motor vehicle is purchased with "factory installed" clean-burning fuel equipment, and the taxpayer elects not to determine the exact investment cost, the credit is limited to 10% of the motor vehicle purchase price up to $1,500. Property directly related to the delivery of natural gas from a private home qualifies for a credit of the lesser of 50% of the cost of the property or $2,500. Any credit allowed but not used may be carried over for a period of 5 years.
Oklahoma Tax Commission

Production Enhancement Rebate (Gross Production)

Estimated Incentive Cost

$2,317,238

Program Type

Rebate

Citation

68 O.S. sec. 1001 G

Industry

Energy

Sunset

6/30/20

Review Year

2
Provides for a 28 month rebate of gross production tax for wells having work done to increase production. Rebate based on incremental amount of production realized from the enhancement.

Coal Production

Estimated Incentive Cost

$1,040,457

Program Type

N/A

Citation

68 O.S. sec.2357.11

Industry

Coal

Sunset

12/31/21

Review Year

2
Section B - Provides an income tax credit for the purchase of Oklahoma-mined coal to the citizens of Oklahoma, or to those businesses which burn coal to generate heat, light or power for use in manufacturing operations in Oklahoma. Section D - A coal credit to businesses primarily engaged in mining, producing or extracting coal in this state. A valid permit issued by the Oklahoma Department of Mines must be held. The credit provided in this paragraph will not be allowed for coal mined, produced or extracted in any month in which the average price of coal is $68 or more per ton, excluding freight charges. Credits earned prior to January 1, 2014 are transferable, and may be claimed up to 5 years. For credits earned on or after January 1, 2014, any credit earned but not used shall be refunded at an amount equal to 85% of the amount of the credit.
Oklahoma Tax Commission

Ethanol Fuel Retailer Tax Credit

Estimated Incentive Cost

$1,264,143

Program Type

Tax credit

Citation

68 O.S. sec. 500.10-1

Industry

Biofuel

Sunset

None Found

Review Year

2
Retailers of ethanol-blended fuel may claim a motor fuel tax credit of $.016 for each gallon of ethanol fuel sold in Oklahoma if the retailer provides a price reduction to the purchaser of the ethanol fuel in the same amount. This incentive is effective unless the federal government mandates the use of reformulated fuel in an area within the state of Oklahoma that is in non-attainment with the National Ambient Air Quality Standards.
Oklahoma Tax Commission

Economically At-risk Lease2 (Gross Production)

Estimated Incentive Cost

$1,838,997

Program Type

Rebate

Citation

68 O.S. sec. 1001 3A

Industry

Energy

Sunset

12/31/20

Review Year

2
Provides for a rebate of gross production tax for oil and gas produced in each Calendar year wherein the net proceeds derived from the sale of oil and natural gas are less than the gross production paid for the same year after deducting certain costs.
Oklahoma Tax Commission

Reestablished Production Rebate (Gross Production)

Estimated Incentive Cost

$255,324

Program Type

Rebate

Citation

68 O.S. sec. 1001 F

Industry

Energy

Sunset

6/30/20

Review Year

2
Provides for a 28 month rebate of gross production tax for wells brought back to production after being non-producing for 1 year.
County Tax Assessors, Oklahoma Tax Commission

Five Year Ad Valorem Tax Exemption

Estimated Incentive Cost

$49,925,750

Program Type

Tax exemption

Citation

68 O.S. sec. 2902 et seq.

Industry

Various

Sunset

None Found

Review Year

1
Certain new and expanding manufacturers, research and development companies, certain computer services and data processing companies with significant out-of-state sales, aircraft repair companies, oil refineries, and certain wind power generators may be eligible for ad valorem tax exemptions for up to 5 years. With the passing of SB498, Electric Wind Generation will no loner be eligible for the program as of January 1, 2017.
Oklahoma Tax Commission

Tax Credit for Electricity Generated by Zero-Emission Facilities

Estimated Incentive Cost

$45,793,720

Program Type

Tax credit

Citation

68 O.S. sec.2357.32A

Industry

Renewable Energy

Sunset

12/31/21

Review Year

1
An income tax credit is allowed based on the amount of electricity generated by a qualified zero-emission facility. Credits earned prior to January 1, 2014 are transferable and any unused credit may be carried over for 10 years. For credits earned after January 1, 2014, any credit earned but not used shall be refunded at an amount equal to 85% of the amount of the credit.
Oklahoma Film & Music Office; Oklahoma Tax Commission

Oklahoma Film Enhancement Rebate

Estimated Incentive Cost

$3,393,896

Program Type

Tax refund or rebate

Citation

68 O.S. subsec. 3621-3626

Industry

Film and Television

Sunset

7/1/24

Review Year

1
Allows a rebate of up to 37% of qualified expenditures made in Oklahoma that are directly attributable to film, television production, and television commercial. Qualifying expenditures for productions include the cost of construction and operations, photography, sound synchronization, wages and wardrobe, facilities, and related services. Minimum budget for the project shall be $50,000 with a minimum of $25,000 spent in Oklahoma.
Oklahoma Historical Society

Historic Rehabilitation Tax Credit

Estimated Incentive Cost

$9,537,466

Program Type

Tax credit

Citation

68 O.S. sec. 2357.41

Industry

Historic Structures

Sunset

None Found

Review Year

1
A transferable income tax credit equal to 100% of the federal rehabilitation credit under Title 26 U.S.C. sec.47 is allowed. Unused credit may be carried over for a period of 10 years.

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