Oklahoma's pro-business attitude and nationally-recognized incentive program mean we're ready to do business. Oklahoma's business incentive program offers you a choice of up to 5% cash back quarterly of new taxable payroll (Quality Jobs) or a tax credit on investment or new jobs (Investment/New Jobs Tax Credit). Additionally, a 5-Year Ad Valorem Property Tax Exemption is available for qualifying manufacturing companies.
2010 Oklahoma Business Incentives and Tax Information Guide
Call 800-588-5959 today for a customized incentive analysis!
Other Key Sales Tax Exemptions/Credits (Federal and State):
- Exemptions for processing machinery and equipment and electricity, fuel and other tangible property used in manufacturing.
- Interstate 1-800, WATS, and private-line business telecommunications systems.
- Zero-Emissions Tax Credit: to apply for this incentive, you'll need to complete a one-page form from the Oklahoma Department of Environmental Quality. The form is called the Zero-Emission Facility Determination Request. There's no fee for processing this form.
- Net Metering Incentive: The Oklahoma Corporation Commission (OCC) requires investor-owned utilities and electric cooperatives under its jurisdiction to file net-metering tariffs for customer-owned renewable-energy systems and combined-heat-and-power (CHP) facilities up to 100 kW in capacity. Contacts: George Kiser, OCC, 405-521-6878, g.kiser@occemail.com; Mike Bergey, Bergey Windpower Co., 405-364-4212, mbergey@bergey.com.
- Freeport Inventory Benefits: Oklahoma's Freeport Law exempts from taxation goods, wares, and merchandise that come from outside the state and leave the state within nine months if those goods, wares, and merchandise are held for assembly, storage, manufacturing, processing, or fabricating purposes within the state. Contact: Oklahoma Tax Commission, 405-521-3178, helpmaster@oktax.state.ok.us. For forms, visit www.oktax.state.ok.us or contact a local county assessor to discuss what property may qualify for exemption.
- Industrial Access Road Assistance (Limited under Option 1: Quality Jobs).
- Foreign Trade Zones: If you conduct international business, locating in one of Oklahoma's four FTZs saves you money and helps you take advantage of efficiencies in customs procedures.
- Local Incentives: Several Oklahoma communities offer substantial local incentive packages that include financing, buildings, and sites.
- Federal incentives include the following:
- Production Tax Credit: the current PTC value is 2 cents/kWh of electricity produced. The PTC was renewed for 3 years through the end of 2012 by Congress as part of the 2009 stimulus package. The package also offers an option to elect a 30% Investment Tax Credit (ITC) in place of the PTC; an option to convert the ITC into a grant for projects placed in service in 2009, or 2010, or placed in service before 2013 provided construction begins in 2009 or 2010; and a new $6 billion DOE renewable energy and transmission loan guarantee program, which should fund around $60 billion in principal amount of guaranteed loans.
- DSIRE Incentive Database: provides details on corporate depreciation and exemption; corporate tax credits; and federal grant and loan programs.
- American Indian Lands Tax Credits: provides an accelerated federal property depreciation schedule; federal employment tax credits of up to $4,000 per qualifying employee per year; and savings of up to 35% to 40% in depreciation of equipment.
For a customized incentive analysis, call 800-588-5959.
New Residential Wind Investment Tax Credit Now Available
The $700 billion federal bailout for the nation's financial sector included a new residential wind investment tax credit of $1,000 per kilowatt of capacity, up to $4,000 on available small wind turbine units installed through 2016.
