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COVID-19 Announcement

In order to be consistent with University Research Park's response to the COVID-19 outbreak, OCAST will keep entry doors locked during business hours. Please contact 405-319-8400 for access.

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Tax Incentives

  • Application for Registration of a Patent/Patent Pending - New Products Development Income Tax Exemption (74 O.S. § 5064.7) Royalty earned by an inventor from a product developed and manufactured in this state shall be exempt from state income tax for a period of seven (7) years from January 1 of the first year in which such royalty is received as long as the manufacturer remains in the state. An instate manufacturer of a product developed in this state by an inventor shall be eligible for a tax credit, as provided for in Section 2357.4 of Title 68 of the Oklahoma Statutes. In addition, such manufacturer may be excluded from Oklahoma taxable income, or in the case of an individual, the Oklahoma adjusted gross income, sixty-five percent (65%) of the cost of depreciable property purchased and utilized directly in manufacturing the product. The maximum exclusion shall not exceed Five Hundred Thousand Dollars ($500,000). To qualify for the incentives, the product shall be patented or have patent pending pursuant to federal law and shall be registered with the Oklahoma Center for the Advancement of Science and Technology (OCAST).
Last Modified on Nov 23, 2020
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