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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.
Oklahoma Historical Society

Historic Rehabilitation Tax Credit

Estimated Incentive Cost

$1,897,007 (FY2018)

Program Type

Tax Credit

Citation

68 O.S. sec. 2357.41

Industry

Historic Structures

Sunset

None found

Review Year

5
A transferable income tax credit equal to 100% of the federal rehabilitation credit under Title 26 U.S.C. sec.47 is allowed. Unused credit may be carried over for a period of 10 years.
Oklahoma Department of Transportation

Industrial Access Road Program

Estimated Incentive Cost

$2,310,000 (FY2019)

Program Type

Grant

Citation

Not created by statute

Industry

Infrastructure

Sunset

None found

Review Year

5
Program is designed to provide assistance to local industrial development by funding, within practical limitations, access facilities connection a specific industry or industrial area directly to the state or local road system.
Oklahoma Capital Investment Board, Oklahoma Tax Commission

Oklahoma Capital Investment Board Programs (Venture Investment Program and Capital Access Program)

Estimated Incentive Cost

$1,500,000 (FY2019)

Program Type

Venture Capital, Small Business Loans

Citation

74 O.S. sec.5085

Industry

Various

Sunset

6/30/2020

Review Year

5
Created to be the state's resource for expanding the supply of equity capital, debt finance and expertise available to Oklahoma companies.
Oklahoma Film & Music Office; Oklahoma Tax Commission

Oklahoma Film Enhancement Rebate

Estimated Incentive Cost

$1,503,408 (FY2019)

Program Type

Tax refund or rebate

Citation

68 O.S. subsec. 3621-3626

Industry

Film and Television

Sunset

7/1/2027

Review Year

5
Allows a rebate of up to 37% of qualified expenditures made in Oklahoma that are directly attributable to film, television production, and television commercial. Qualifying expenditures for productions include the cost of construction and operations, photography, sound synchronization, wages and wardrobe, facilities, and related services. Minimum budget for the project shall be $50,000 with a minimum of $25,000 spent in Oklahoma.
Oklahoma Tax Commission

Quality Events Program

Estimated Incentive Cost

$448,334 (FY2019)

Program Type

Reimbursement

Citation

68 O.S. sec.4301-4311

Industry

Entertainment

Sunset

6/30/2021

Review Year

5
Allows communities to recapture eligible expenses for hosting a Quality Event. A "Quality Event" is defined as a new event or a meeting of a nationally recognized organization or its members.
Oklahoma Tax Commission

Tax Credit for Aerospace Employees

Estimated Incentive Cost

$7,400,323

Program Type

Tax Credit

Citation

68 O.S. sec.2357.304

Industry

Aerospace

Sunset

12/31/2026

Review Year

5
An income tax credit is allowed for a qualified employee of up to $5,000 per year for a period of time not to exceed five years. Any credit claimed, but not used, may be carried over up to five subsequent taxable years.
Oklahoma Tax Commission

Tax Credit for Aerospace Employers

Estimated Incentive Cost

$314,861

Program Type

Tax Credit

Citation

68 O.S. sec. 2357.303

Industry

Aerospace

Sunset

12/31/2026

Review Year

5
68 O.S. sec.2357.3032: An income tax credit is allowed for a qualified employer for compensation paid to a qualified employee. The credit is equal to 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 outside of Oklahoma. The credit cannot exceed $12,500 per employee annually.
Oklahoma Tax Commission

Tax Credit for Electricity Generated by Zero-Emission Facilities

Estimated Incentive Cost

$87,900,000 (FY2018)

Program Type

Tax Credit

Citation

68 O.S. sec.2357.32A

Industry

Renewable Energy

Sunset

12-31-2021

Review Year

5
An income tax credit is allowed based on the amount of electricity generated by a qualified zero-emission facility. Wind facilities put into operation after July 1, 2017 are not eligible for the credit. Future use of the credit for non wind facilities is limited to tax year 2021. 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.

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