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Schedule

21st Quality Jobs Program

Estimated Incentive Cost

$13,170,693 (2018)

Program Type

Cash Rebates

Citation

68 O.S. sec. 3911

Industry

Qualifying (by statute) basic industries

Sunset

None Found

Review Year

6
The program offers quarterly payments of up to 10 percent of newly created payroll for a period of 10 years. To receive quarterly payments, companies must meet certain requirements related to new jobs and wages.

Capital Gain Deduction

Estimated Incentive Cost

$154,324,446 (Tax Year 2018)

Program Type

Tax Deduction

Citation

68 O.S. sec. 2358

Industry

N/A

Sunset

None Found

Review Year

6
The incentive provides a deduction from taxable income for gains from the sale of qualified Oklahoma-based property. Qualified gains include the sale of real and tangible personal property based in Oklahoma and stock or ownership interest in a business entity with a primary headquarters in Oklahoma.

Coal Tax Credits

Estimated Incentive Cost

$3,202,179 (2018)

Program Type

Tax Credits (refundable, capped)

Citation

68 O.S. sec. 2357.11

Industry

Coal

Sunset

December 31, 2021

Review Year

6
The program provides tax credits to producers and purchasers of Oklahoma-mined coal. For both credits, the amount is a 75% credit against tax owed, which is partially refundable.

Credit for Investment in Clean-Burning Fuel or Electric Vehicle Property

Estimated Incentive Cost

$11,594,808 (2019)

Program Type

Tax Credit

Citation

68 O.S. sec. 2357.22

Industry

Various

Sunset

December 31, 2027

Review Year

6
The incentive is a tax credit for investments in qualified clean-burning fuel and electric vehicle property. Eligible purchases include certain vehicles, commercial fueling property and residential fueling property.

Ethanol Fuel Retailer Tax Credit

Estimated Incentive Cost

$1,260,582 (FY 2020)

Program Type

Tax Credit

Citation

68 O.S. sec. 500.10-1

Industry

Retail Sales

Sunset

None Found

Review Year

6
Oklahoma retailers that sell gasoline containing up to 15 percent ethanol by volume (E15) are eligible for a motor fuel tax credit of $0.016 per gallon of ethanol blended into gasoline and sold in Oklahoma. To receive the credit, the retailer must provide a price reduction to the purchaser of the ethanol fuel in the same amount.

Home Office Tax Credit

Estimated Incentive Cost

$18,552,866 (Tax Year 2020)

Program Type

Tax Credit

Citation

36 O.S. sec. 625.1

Industry

Insurance

Sunset

None Found

Review Year

6
The incentive provides insurance companies that establish or expand a home or regional home office in Oklahoma a tax credit against insurance premium tax liability, which varies depending on the company’s employment in Oklahoma. To claim the credit, foreign insurers must have at least 200 employees in the State, while domestic insurers must have at least 400 employees. The value of the credit ranges from 15 to 50 percent of insurance premium tax liability depending on the insurance company’s status as foreign or domestic and its level of Oklahoma employment.

Quality Jobs Program

Estimated Incentive Cost

$47.1 million (2018)

Program Type

Cash Rebates

Citation

68 O.S. sec. 3601

Industry

Qualifying (by statute) basic industries

Sunset

None Found

Review Year

6
The program offers qualifying companies quarterly cash rebates equal to up to 5 percent of newly created taxable payroll for up to 10 years. Originally targeted toward manufacturing firms, the program has been expanded to include a wide range of industries.

Small Employer Quality Jobs Program

Estimated Incentive Cost

$445,949 (2018)

Program Type

Cash Rebates

Citation

68 O.S. sec. 3901

Industry

Qualifying (by statute) basic industries

Sunset

None Found

Review Year

6
The program provides qualifying companies with 500 or fewer employees quarterly rebate payments of up to five percent of newly created payroll, for up to seven years. To qualify for payments, participants must meet requirements related to job creation and wages.
Oklahoma Tax Commission

Excise Tax Exemption on Aircraft Sales

Estimated Incentive Cost

$484,339 (FY2019)

Program Type

Tax Exemption

Citation

68 O.S. sec. 6003

Industry

Aerospace

Sunset

None found

Review Year

5
Generally, excise tax in lieu of sales tax is imposed on the sale, transfer, or lease of aircraft that will be based in Oklahoma. In 2013 the following provision was added: exempts rotary-winged aircraft purchased to be used exclusively for the purpose of training U.S. military personnel or other training authorized by the U.S. government from the levy of aircraft excise tax.
County Tax Assessors, Oklahoma Tax Commission

Five Year Ad Valorem Tax Exemption

Estimated Incentive Cost

$161,200,000 (FY2020)

Program Type

Tax Exemption

Citation

68 O.S. sec. 2902 et seq.

Industry

Various

Sunset

None found

Review Year

5
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.

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