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Schedule

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 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

Affordable Housing Act1

Estimated Incentive Cost

$4,000,000

Program Type

Tax Credit

Citation

68 O.S. sec. 2357.403

Industry

Residential

Sunset

None

Review Year

3
An income tax credit, equal to the amount of federal low-income housing tax credit, not to exceed $4.0 million per allocation year, is allowed for qualified housing projects placed in service after July 1, 2015.
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.

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