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- Excise Tax Exemption on Aircraft Sales
- Five Year Ad Valorem Tax Exemption
- Historic Rehabilitation Tax Credit
- Industrial Access Road Program
- Oklahoma Capital Investment Board Programs (Venture Investment Program and Capital Access Program)
- Oklahoma Film Enhancement Rebate
- Quality Events Program
- Tax Credit for Aerospace Employees
- Tax Credit for Aerospace Employers
- Tax Credit for Electricity Generated by Zero-Emission Facilities
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.
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.
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.
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 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 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.
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.
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.
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.
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.
