Investment/New Jobs Tax Credit Package
The materials contained on this website have been prepared by the Oklahoma Department of Commerce for informational purposes only and do not constitute legal or tax advice. This information is subject to change based on judicial interpretation and legislative action. The application of the information is subject to your unique facts and circumstances. YOU SHOULD NOT ACT UPON ANY INFORMATION CONTAINED IN THESE MATERIALS WITHOUT SEEKING YOUR OWN PROFESSIONAL LEGAL AND TAX ADVICE.
Investment/New Jobs Tax Credits provide growing manufacturers a significant tax credit based on either an investment in depreciable property or on the addition of full-time-equivalent employees engaged in manufacturing, processing, or aircraft maintenance.
Choice of tax credit based on investment OR new employees.
Five-year state tax credit on the greater of 1% per year of investment in new depreciable property or $500 per new employee.
Credit doubles in Enterprise Zones.
Credit doubles if investment exceeds $40 million.
Minimum investment of $50,000.
These tax credits accrue and may be claimed on July 1, 2012.
May be combined with Quality Jobs under certain circumstances.