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Schedule
21st Quality Jobs Program
Estimated Incentive Cost
$13,170,693 (2018)Program Type
Cash RebatesCitation
68 O.S. sec. 3911Industry
Qualifying (by statute) basic industriesSunset
None FoundReview Year
6The 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 DeductionCitation
68 O.S. sec. 2358Industry
N/ASunset
None FoundReview Year
6The 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. 2357.11Industry
CoalSunset
December 31, 2021Review Year
6The 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 CreditCitation
68 O.S. sec. 2357.22Industry
VariousSunset
December 31, 2027Review Year
6The 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 CreditCitation
68 O.S. sec. 500.10-1Industry
Retail SalesSunset
None FoundReview Year
6Oklahoma 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 CreditCitation
36 O.S. sec. 625.1Industry
InsuranceSunset
None FoundReview Year
6The 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 RebatesCitation
68 O.S. sec. 3601Industry
Qualifying (by statute) basic industriesSunset
None FoundReview Year
6The 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 RebatesCitation
68 O.S. sec. 3901Industry
Qualifying (by statute) basic industriesSunset
None FoundReview Year
6The 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 ExemptionCitation
68 O.S. sec. 6003Industry
AerospaceSunset
None foundReview Year
5Generally, 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 ExemptionCitation
68 O.S. sec. 2902 et seq.Industry
VariousSunset
None foundReview Year
5Certain 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.