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Schedule

Oklahoma Tax Commission

Electric Motor Vehicles

Estimated Incentive Cost

$102,451

Program Type

Tax Credit

Citation

68 O.S. sec.2357.22

Industry

Renewable Energy

Sunset

12/31/19

Review Year

Excluded
A one-time income tax credit is allowed for investments in qualified electric motor vehicle property. The credit is 50% of the cost of the qualified motor vehicle property. In cases where no credit is previously claimed and a motor vehicle is purchased with "factory installed" electrical 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. This credit is for investments in qualified electric motor vehicle property placed in service before July 1, 2010; however, any credit allowed but not used may be carried over for a period of 5 years.
Oklahoma Department of Agriculture, Food, & Forestry

Farm Diversification Grant

Estimated Incentive Cost

N/A

Program Type

Grant

Citation

2 O.S. 5-3.2

Industry

Agriculture

Sunset

None Found

Review Year

Excluded
Grants are available to anyone who is currently involved in farming, ranching or agritourism and would like to diversify their family farming operation or agritourism venture. Projects must be for non-traditional crops or livestock, on-farm processing of agricultural commodities or agritourism ventures.
Oklahoma Finance Authority

Finance Authority Programs

Estimated Incentive Cost

N/A

Program Type

Other

Citation

74 O.S. subsec. 851 and 5062.11

Industry

Infrastructure

Sunset

None Found

Review Year

Excluded
Income derived from bonds issued by the Oklahoma Development Finance Authority is exempt from income tax.
Oklahoma Tax Commission

Gas Usage Tax Credit for Manufacturing

Estimated Incentive Cost

$30,000

Program Type

Tax credit

Industry

Manufacturing

Review Year

Excluded
Repealed
Oklahoma Department of Commerce

Idle Reduction Weight Exemption

Estimated Incentive Cost

N/A

Program Type

Preferential rate

Citation

47 O.S. sec. 14-109

Industry

Commercial/Industrial Vehicles

Sunset

None Found

Review Year

Excluded
Any vehicle equipped with idle reduction technology may exceed the state's gross vehicle weight limits by up to 400 pounds to compensate for the additional weight of the added idle reduction technology. The additional weight may not exceed the actual certified weight of the idle reduction unit.
Oklahoma Tax Commission

Income Tax Credit For Investment In Oklahoma Producer-owned agriculture processing

Estimated Incentive Cost

$70,950

Program Type

Tax Credit

Citation

68 O.S. sec. 2357.25

Industry

Agriculture

Sunset

1/1/10

Review Year

Excluded
An income tax credit is allowed for Oklahoma agricultural producers who invents in Oklahoma producer-owned agricultural processing cooperatives, ventures or marketing associations. This credit is for tax years ending on or before December 31, 2009; however, any unused credit may be carried over for a period of 6 years.
Oklahoma Department of Agriculture, Food, & Forestry

Marketing and Utilization Loan

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

Excluded
A marketing loan is to be used for product development and/or implementation of a sound marketing plan for Oklahoma agricultural products and by-products. The products should be new to the particular area targeted for the marketing promotion or should be an expansion of a use or uses of existing products.
OCAST

Oklahoma Intern Partnerships

Estimated Incentive Cost

$420,000

Program Type

Grant/Reimbursable

Citation

74 O.S., Section 5060.19 AND 74 O.S., Section 5060.28

Industry

N/A

Review Year

Excluded
The purpose of this project funding shall be to improve the State?s R&D base by encouraging greater numbers of undergraduate students to prepare for careers in and related to scientific and technical fields through the support of undergraduate student and undergraduate teaching faculty internships in R&D facilities
OCAST

Oklahoma Plant Science Research

Estimated Incentive Cost

$260,000

Program Type

Grant/Reimbursable

Citation

74 O.S. 5060.53 and O.S. 5060.54

Industry

N/A

Review Year

Excluded
Assist in the accelerated development of technology in the State by supporting applied plant science research activities in existing and emerging technical areas in which the results have: (1) a high probability of leading to commercially successful products, processes or services within a reasonable period of time; and, (2) a significant potential for stimulating economic growth within the State of Oklahoma
Oklahoma Department of Environmental Quality

Recycling, Reuse And Source Reduction Incentive Act

Estimated Incentive Cost

None

Program Type

Tax credit

Citation

27A O.S. sec.2-11-303

Industry

Recycling

Sunset

Repealed effective January 1, 2014

Review Year

Excluded
Any person making a capital investment in buildings, fixtures and/or equipment (collectively known as the "facility") and their installation for the purpose of recycling, reuse, or source reduction of hazardous waste and the storage of such waste immediately prior to recycling or reuse may be entitled to an income tax credit of twenty percent of the amount actually invested in the facility and its installation in accordance with these rules, not to exceed a maximum of $50,000. (Additionally, tax credits received under the RRSRIA cannot exceed a total of $50,000 during a period of any three (3) consecutive tax years.) Upon evaluation by the Department of an application and a determination that the intent of the Recycling, Reuse, and Source Reduction Incentive Act has been met, the Department will issue a certificate to the Oklahoma Tax Commission specifying the capital investment expense eligible for the tax credit and any limitations.

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