Capital Formation Incentive Act Site Map
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That crooked law

About this fraud flawed law.  View

Guide to flaws in the law.  View

3 Biggest schemes

Altus Venture $126 million View

Scissortail $90 million  View

Foxborough $300 million  View

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Oklahoma tax credit abusers caught in Colorado land scam.

The financial shell games
About venture capital funding.
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Venture capital (also known as VC or Venture) is a type of private equity capital typically provided to early-stage, high-potential, growth companies where the rewards are years out and carry a high risk.

Venture capital is a special kind of funding to create a foundation for building the businesses that will replace today's diminishing industry and jobs. Oklahoma's venture tax credit program was intended to incentivize that venture capital funding needed by rewarding investors tax credits worth 20 to 30% of their at risk investment.

More on venture capital

 

Capital Formation Incentive Act Site Map

The Capital Formation Incentive Act is the law so riddled with loopholes and failed to provide for oversight and accountability. This allows the users to interpret the law as suits thier needs and there is no official agency or individual to question what and how the program is used.

$66.3 million in tax credits only created 73 jobs before business went broke!
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Guide to locating the flaws and loopholes
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Why did OK lawmakers fail on two occasions to close a huge tax loophole?
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Capital Incentive Formation Act background and basics
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Guide to key sections
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Authoring the use of loans, including the use of artifical loans
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Showing were only 25% of the public funds are required to be spent creating jobs in Oklahoma
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Protecting those abusing the law
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The cover up - denying the public access to information about the program
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Investments
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Authorizing those taking tax credits to sell for cash
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Disqualifying successful venture capital firms in favor of those with a history of financial lawsuits
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Denying the public claw back -- allowing those defrauding to keep Keeping stolen money
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How some are using public money to buy businesses without investing one dime of their own money.
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Revealing more Oklahoma Tax Credit Fraud - dirty little secret 12
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Hiding the use of public funds, the unmistakable mark of wrong in government!
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Capital Formation Incentive Act a Flawed Law
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Myths and truths about Oklahoma's economy development programs
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Stripping the public of all its protection against wrong
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Index map
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Rural small business investment incentives
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Guide to key features
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State statue index
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Prowling Owl Blogging on Tax Credit Abuses
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