You are here

Schedule

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 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.
OCAST

Oklahoma Applied Research

Estimated Incentive Cost

$2,750,000

Program Type

Grant/Reimbursable

Citation

74 O.S., Section 5060.274 O.S., Section 5060.1974 O.S., Section 5060.4

Industry

N/A

Review Year

3
The purpose of the OARS program shall be two-fold. First, it shall assist in the accelerated development of technology in the state by supporting applied 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. Secondly, the program shall encourage and sustain partnerships among institutions of higher education, non-profit research organizations and private enterprises by encouraging collaborative projects which are designed to promote increased knowledge and technology transfer.
OCAST

Oklahoma Health Research

Estimated Incentive Cost

$3,000,000

Program Type

Grant/Reimbursable

Citation

74 O.S., Sections 5046 - 5055

Industry

N/A

Review Year

3
The purpose of the program is to help recruit and retain well-qualified health research scientists for the State, improve the competitiveness of Oklahoma-based investigators for national research funds, improve health care for the citizens of Oklahoma, and strengthen the State's health care industry. Research funded under this program investigates the causes, diagnosis, treatment and prevention of human diseases and disabilities and facilitates the development of health care products and services.
Oklahoma Department of Commerce

Quality Investment Program

Estimated Incentive Cost

N/A

Program Type

Equity investment

Citation

74 O.S. sec. 5062.8A

Industry

Various

Sunset

None Found

Review Year

3
The Oklahoma Development Finance Authority can match dollar for dollar an investment enterprise's private capital for helping new and expanding businesses. An investment enterprise includes any corporation, limited partnership, or similar business entity, including entities qualifying as Small Business Investment Companies under applicable federal law. The primary function is to use private and public resources to build a more comprehensive and efficient financing infrastructure for businesses expanding or relocating in the state of Oklahoma.
Oklahoma Department of Commerce

Quick Action Closing Fund

Estimated Incentive Cost

$3,000,000

Program Type

Closing Fund

Citation

62 O.S.sec.48.2

Industry

Same as QJ

Sunset

None Found

Review Year

3
The fund is to be used for economic development and related infrastructure development when expenditure of funds is likely a determining factor in locating an high-impact business. In the 2013 legislative session the budget agreement included appropriating $3,000,000 to the Oklahoma Quick Action Closing Fund.
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 Center for the Advancement of Science and Technology

Technology Business Finance Program

Estimated Incentive Cost

N/A

Program Type

Equity investment

Citation

74 O.S. sec.5060.20a

Industry

Misc. Tech

Sunset

None Found

Review Year

3
TBFP provides Oklahoma tech start-up companies with pre-seed financing and early-stage risk capital to stimulate investments from private sources. TBFP is administered through a contract with i2E Inc. with awards ranging up to $100,000.
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.

Pages

Submit Feedback

 
1 Start 2 Complete
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.