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Schedule

Oklahoma Tax Commission

Tax Credit for Electricity Generated by Zero-Emission Facilities

Estimated Incentive Cost

$45,793,720

Program Type

Tax credit

Citation

68 O.S. sec.2357.32A

Industry

Renewable Energy

Sunset

12/31/21

Review Year

1
An income tax credit is allowed based on the amount of electricity generated by a qualified zero-emission facility. Credits earned prior to January 1, 2014 are transferable and any unused credit may be carried over for 10 years. For credits earned 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

Tax Credit for Tuition Reimbursement for Aerospace Employers

Estimated Incentive Cost

$686,553

Program Type

Tax Credit

Citation

68 O.S. sec.2357.302; 68 O.S. sec.2357.303

Industry

Aerospace

Sunset

12/31/17

Review Year

1
68 O.S. sec.2357.302: An income tax credit is allowed for a qualified employer for tuition reimbursement to a qualified employee. The amount of the credit is 50% of the tuition reimbursed to a qualified employee for the first through fourth years of employment. 68 O.S. sec.2357.303: The amount of the credit is 10% of the compensation paid for the first through fifth years of employment in the aerospace sector if the qualified employee graduated from an institution located in this state; or 5% if the qualified employee graduated from an institution located outside this state. The credit cannot exceed $12,500 for each qualified employee annually.
Oklahoma Department of Commerce

Alternative Fuel Vehicle (AFV) Loans

Estimated Incentive Cost

N/A

Program Type

Loan/Loan Participation

Industry

Renewable Energy

Sunset

None Found

Review Year

Excluded
Loan funds are available for privately held Oklahoma companies operating a fleet of three or more vehicles who wish to convert their fleet vehicles to alternative fuel or towards the incremental cost of purchasing new vehicles that are dedicated alternative fuel vehicles.
Oklahoma Department of Environmental Quality

Biofuels Construction and Permitting Assistance

Estimated Incentive Cost

N/A

Program Type

Other

Industry

Renewable Energy

Review Year

Excluded
The Oklahoma DEQ provides technical and regulatory assistance to small businesses that need permits to construct and operate biodiesel and ethanol production.
Oklahoma Tax Commission

Biofuels Tax Exemption

Estimated Incentive Cost

Unknown

Program Type

Tax exemption

Citation

68 O.S. sec. 2357.22

Industry

Renewable Energy

Sunset

None Found

Review Year

Excluded
An individual who produces biofuels or biodiesel from feedstock grown on property and used in a vehicle owned by the same individual is exempt from the state motor fuel excise tax.
Oklahoma Department of Environmental Quality

Brownfields

Estimated Incentive Cost

$400,000

Program Type

Loans/Subgrants

Industry

Manufacturing

Review Year

Excluded
To assist in the remediation of property that was polluted/contaminated and return it to publis use.
Oklahoma Tax Commission

Commercial Space Industry Credit

Estimated Incentive Cost

$0

Program Type

Tax credit

Citation

68 O.S. sec.2357.13

Industry

Aerospace

Sunset

Repealed effective Jan 1 2014

Review Year

Excluded
An income tax credit is allowed for investments in qualified commercial space industry projects. The credit is 5% of the eligible capital costs. Any credit allowed but not used may be carried over for a period of 4 years. This credit has been repealed effective January 1 2014.
Oklahoma Department of Agriculture, Food, & Forestry

Cooperative Marketing Loan

Estimated Incentive Cost

N/A

Program Type

Loan/Loan Participation

Citation

2 O.S. 5-3.2

Industry

Agriculture

Sunset

None Found

Review Year

Excluded
Monies from this loan may be used by a group of individuals or an individual on behalf of a group to organize a cooperative for the purpose of marketing a product or to formulate or implement a marketing plan if the cooperative is already in place. The principals in the organization should be individuals rather than a previously existing corporation and those individuals must have some type of cooperative agreement between themselves that will ensure proper accountability for the proposed plan. Individuals are encouraged to seek marketing partners within the state of Oklahoma.
Oklahoma Development Finance Authorities

Credit Enhancement Reserve Fund

Estimated Incentive Cost

N/A

Program Type

Loan guarantee

Citation

62 O.S. 695.9

Industry

Public

Sunset

None Found

Review Year

Excluded
The Oklahoma Development Finance Authority may use the Credit Enhancement Reserve Fund in order to obtain favorable financing terms for the issuance of obligations authorized by Section 3654 of this title. The commitment from the Credit Enhancement Reserve Fund for any such obligations shall not exceed Ten Million Dollars ($10,000,000.00).
Oklahoma Tax Commission

Credit for Manufacturers of Advanced Small Wind Turbines

Estimated Incentive Cost

$178,690

Program Type

Tax credit

Citation

68 O.S. sec.2357.32B

Industry

Renewable Energy

Sunset

7/1/12

Review Year

Excluded
A transferable income tax credit is allowed for Oklahoma manufacturers of advanced small wind turbine products, including rotor blades and alternators. The credit is based on the square footage of roto-swept area of advanced small wind turbines manufactured in this state. This credit is for tax years ending on or before December 31, 2012; however, any unused credit may be carried over for a period of 10 years.

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