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Schedule

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.
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

21st Century Quality Jobs

Estimated Incentive Cost

$5,704,426

Program Type

Rebate

Citation

68 O.S. sec.3911-3920

Industry

Multiple NAICS

Review Year

2
Incentive was created to attract growth industries and sectors to Oklahoma in the 21st century through a policy of rewarding businesses with a highly skilled, knowledge-based workforce. It also maximizes the eligible incentive payment by incorporation expanded state benefits by allowing a net benefit rate of up to 10% of payroll.
Oklahoma Department of Commerce

Small Employer Quality Jobs Program

Estimated Incentive Cost

$291,175

Program Type

Rebate

Citation

68 O.S. sec.3901

Industry

Basic Industry

Sunset

None Found

Review Year

2
Businesses with 90 employees or less that qualify are allowed to receive up to 5% cash-back incentive for up to 7 years to locate or expand in Oklahoma. Qualifying payroll must be attributable to annual salaries that are 110% to 125% of the average wage of the county in which the jobs are located.
Oklahoma Department of Commerce

Hi Impact Quality Jobs Program

Estimated Incentive Cost

$0

Program Type

Rebate

Citation

68 O.S. sec.3708

Industry

Basic Industry

Sunset

None Found

Review Year

2
Lowers annualized payroll threshold to $1 million for businesses that produce new direct jobs to the State that are equal to or greater than 1% of the total labor force of the county in which they locate. Payout is 2.5% of taxable wages for 6 years.
Oklahoma Insurance Department

Home Office Tax Credit

Estimated Incentive Cost

$18,927,316

Program Type

Tax credit

Citation

36 O.S. sec. 625. 1

Industry

Various

Sunset

None Found

Review Year

2
Insurance companies that locate or expand regional home offices in Oklahoma and maintain an employee level above 200 are eligible for special tax credits against the tax imposed in the Insurance Code. Annual credits range from 15% to 50% based on numbers of full time and year-round employees. This credit is not available to participants in the Quality Jobs Program.

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