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Seventy-four (74) Oklahoma tax refunds and tax credit programs are listed below to show those used during the years usage was required to be reported. Caution: Several programs were amended by the state legislator each year. To understand the legal requirements that applies requires using the statute in effect the year funds were invested, not the years used or reported.
| # | Statute | Credit Type | Short Term | Long Term | Notes |
|---|---|---|---|---|---|
| 1 | 68 O.S. § 1001 | Gross Production Tax Refunds | GP Tax Refunds | Gross Production Tax Refunds on Certain Interests - Exemptions | Royalty owners only |
| 2 | 68 O.S. § 1101 | PE Tax Refunds | GP Tax Refunds | Tax Refunds for Excise Tax on Petroleum Oil | Royalty owners only |
| 3 | 68 O.S. § 1102 | NG Tax Refunds | GP Tax Refunds | Tax Refunds for Excise Tax on Natural Gas and Casing head Gas | Royalty owners only |
| 4 | 68 O.S. § 2357.4 | Oklahoma Investment/New Jobs Credit | InvNJ | Tax Credit for Oklahoma Investment/New Jobs; Business for investment or increase in full-time Employees. | |
| 5 | 74 O.S. § 5085.7 | OCIB-Oklahoma Capital Investment Board | OCIB | Tax Credit for Oklahoma Capital Investment Board; The Oklahoma Capital Investment Board (OCIB) is allowed to sell up to Ten Million Dollars ($10;000;000.00) in credits against income tax under certain circumstances. | |
| 6 | 74 O.S. § 5085.7 | OCIB | OCIB | Oklahoma Capital Investment Board: Changed to Issuance Of Tax Credits | |
| 7 | 68 O.S. § 2357.73 | Rural Small Business Capital Credit | RSBC (CFIA) | Tax Credit for Rural Small Business Capital; credits for investments in qualified rural Small Business capital companies. | |
| 8 | 68 O.S. § 2357.74 | Rural Small Business Ventures - In conjunction | RSBV (CFIA) | The credit shall be equal to thirty percent (30%) of the cash amount invested in an Oklahoma Rural Small Business Venture and may only be claimed in the tax year the investment is made in the business | |
| 9 | 68 O.S. § 2357.62 | Small Business Capital Credit | SBC (CFIA) | Tax Credit for Small Business Capital; Tax Credit for qualified investment in qualified Small Business capital companies. | |
| 10 | 68 O.S. § 2357.63 | Small Business Ventures - In conjunction | SBV (CFIA) | The credit shall be equal to twenty percent (20%) of the cash amount invested in an Oklahoma Small Business Venture and may only be claimed in the tax year the investment is made in the business | |
| 11 | 68 O.S. § 2357.7 | Venture Capital Investment | VC | Tax Credit for Qualified venture capital company | |
| 12 | 36 O.S. § 2030 (I) | Life and Health Guaranty Fund Assessment Credit | Life and Health Guaranty Fund Assessment Credit | Note: (3) | |
| 13 | 36 O.S. § 624(A)(2) | Premium Credits to Public Service Authorities | Premium Credits to Public Service Authorities | Note: (3) | |
| 14 | 36 O.S. § 625.1 | Home Office Credit | Home Office Credit | Note: (3) | |
| 15 | 36 O.S. § 625.4 | P&C Guaranty Fund Assessment Credit | P&C Guaranty Fund Assessment Credit | Note: (3) | |
| 16 | 68 O.S. § 2357.11 | Coal Credit | Tax Credit for Coal Production; Corporations that provide water; heat; light or power by means of electricity; gas or steam to citizens of Oklahoma are entitled to a credit (nonrefundable) to offset Oklahoma income tax for purchasing Oklahoma-mined coal. | Note: (3) | |
| 17 | 68 O.S. § 2357.28 | Nonstop Air Service From Oklahoma To The Coast | Tax Credit allowed to establishment that demonstrates commitment to provide nonstop air transportation from this state to either the west coast or the east coast of the continental United States; or both.. | Note: (3) | |
| 18 | Federal Reinsured Crop and Flood Premiums | Federal Reinsured Crop and Flood Premiums | Note: (3) | ||
| 19 | 27A O.S. § 2011-303 | Recycling Facility | Tax credit for an investment in equipment and installation of processes used for the recycling; reuse or source reduction of hazardous waste. The credit is not to exceed twenty percent (20%) of the net investment cost. The credit must be taken within thre | ||
| 20 | 62 O.S. § 2001 Sec 841 | Local Enterprise Zone Development | Tax Credit for Oklahoma Local Development And Enterprise Zone Incentive Leverage Act | ||
| 21 | 62 O.S. § 90.6 | Financial Institutions Making Loans | Financial Institutions Making Loans Under The Rural Economic Development Loan Act | ||
| 22 | 68 O.S. § 1370.3 | Low Income Sales Tax Relief | Tax Credit for Low Income Sales Tax Relief | ||
| 23 | 68 O.S. § 2357 | Gas Used In Manufacturing | Tax Credit for gas used in manufacturing process. This credit is available to Oklahoma manufacturers who use or consume natural or casinghead gas (with certain limitations) in their manufacturing establishment. | ||
| 24 | 68 O.S. § 2357.100 | Poultry Litter | Tax credit for purchase and transportation of poultry litter - Calculation - Qualification - Carry-forward period. | ||
| 25 | 68 O.S. § 2357.101 | Film Or Music Project | Tax Credit for Film and Music Profit Reinvestment An income of twenty-five percent (25%) of the profit from the investment in an existing film for a production company that reinvests to pay for production costs for a new film project. | ||
| 26 | 68 O.S. § 2357.102 | Dry Fire Hydrant Credit | Tax Credit for Dry Fire Hydrant An Oklahoma Income of fifty percent (50%) of the purchase of a dry fire hydrant or the cost to provide an acceptable means of water storage for such dry fire hydrant including a pond; tank; or other storage facility with th | ||
| 27 | 68 O.S. § 2357.104 | Railroad Modernization | Tax Credit for qualified railroad reconstruction or replacement expenditures | ||
| 28 | 68 O.S. § 2357.13 | Commercial space industry | Tax Credit for certain commercial space industry activity; | ||
| 29 | 68 O.S. § 2357.201 | High-Speed Transaction Processing Facilities | Tax Credit for Computer Industry High-Speed Transaction Processing Facilities | ||
| 30 | 68 O.S. § 2357.203 | Breeders Of Specially Trained Canines | Tax Credit for Specially Trained Canine Repealed by Laws 2013; HB 1248; c. 79; ?68- 1; eff. November 1; 2013 | ||
| 31 | 68 O.S. § 2357.204 | Refinery Treatment | Tax Credit for Refinery Treatment; Election to Treat Qualified Refinery Cost as an Expense Not Chargeable to a Capital Account | ||
| 32 | 68 O.S. § 2357.205 | Compliance with Sulfur Regulations | Tax Credit for Sulfur Regulations; Election to Allocate Cost of Compliance with Sulfur Regulations | ||
| 33 | 68 O.S. § 2357.206 | Contributions To A Scholarship-Granting Organization | Contributions To A Scholarship-Granting Organization | ||
| 34 | 68 O.S. § 2357.22 | Clean-burning or electric motor vehicle | Tax Credit for investments in qualified clean-burning motor fuel vehicle property or qualified electric motor vehicle property. | ||
| 35 | 68 O.S. § 2357.24 | Historic battle sites | Tax Credit for certain historic battle sites; | ||
| 36 | 68 O.S. § 2357.25 | Oklahoma Agricultural Producers Credit | Tax Credit for investments in agricultural processing cooperatives; ventures and marketing associations. | ||
| 37 | 68 O.S. § 2357.25A | Agricultural processing marketing associations. Recreational activities | Tax Credit for Agricultural processing marketing associations; for recreational activities groups that are Oklahoma producer-owned agricultural processing marketing associations. | ||
| 38 | 68 O.S. § 2357.26 | Employers Providing Child Care Programs | Tax Credit for Child Care Services ? Employers; A credit of twenty percent (20%) of the amount paid by employers to provide accredited child care programs for the children of their employees. | ||
| 39 | 68 O.S. § 2357.27 | Child Care Service Providers | Tax Credit for Child Care Service Providers; A credit of twenty percent (20%) of eligible expenses incurred by entities primarily engaged in the business of providing child care services. | ||
| 40 | 68 O.S. § 2370 | Privilige Tax Credit Financial Institutions | Tax Credit for Financial Institutions Making Loans Under The Rural Economic Development Loan Act | ||
| 41 | 68 O.S. § 2370.3 | Stafford Loan Origination Fee | Tax Credit for Amount of the origination fee paid by the banking association or credit union to the United States Department of Education pursuant to the "Stafford" loan guaranty program for an Oklahoma resident | ||
| 42 | 68 O.S. § 2357.30 | Small Business Guaranty Fee | Tax Credit for Small Business Association guaranty fees; Credit of any amount paid by a small business operating within this state to the U.S. Small Business Administration as a guaranty fee pursuant to obtaining financing guaranteed by the Small Business | ||
| 43 | 68 O.S. § 2357.301 | Employees In The Aerospace Sector | Employees In The Aerospace Sector | ||
| 44 | 68 O.S. § 2357.302 | Employer Tuition Reimbursement for Qualified | Tax Credit for employee tuition reimbursement. | ||
| 45 | 68 O.S. § 2357.303 | Paid Employer in Aerospace Sector | Tax Credit for Employers in the Aerospace Sector for compensation paid to employees.; qualified employer Aerospace grads of Insitution 10% in state or5% out of state | ||
| 46 | 68 O.S. § 2357.31 | Health Insurance | Tax Credit for Health Insurance | ||
| 47 | 68 O.S. § 2357.32 | Energy systems | Tax Credit for certain energy systems; | ||
| 48 | 68 O.S. § 2357.32A | Electricity Generated By Zero-Emission Facilities | Tax Credit for Electricity Generated by Zero-Emission Facilities; Electricity generated by zero-emission facilities - | ||
| 49 | 68 O.S. § 2357.32B | Manufacturers Of Small Wind Turbines | Tax Credit for manufacturers of advanced small wind turbines | ||
| 50 | 68 O.S. § 2357.33 | Food Service Establishments That Pay For Hepatitis A Vaccina | Tax Credit for amounts paid by a taxpayer operating one or more food service establishments for providing immunizations against Hepatitis A to employees who work in such establishments. | ||
| 51 | 68 O.S. § 2357.34 | Film Or Music Production | Tax Credit for Film Or Music Production Facility; tourism promotion | ||
| 52 | 68 O.S. § 2357.35 | Film Or Music Production Related | Tax Credit Related to Film Or Music Production Facility; Tourism Promotion | ||
| 53 | 68 O.S. § 2357.36 | Film Or Music Production Related | Tax Credit Related to Film Or Music Production Facility; Tourism Promotion | ||
| 54 | 68 O.S. § 2357.37 | Film Or Music Production Related | Tax Credit Related to Film Or Music Production Facility; Tourism Promotion | ||
| 55 | 68 O.S. § 2357.39 | Film Or Music Production Related | Tax Credit Related to Film Or Music Production Facility; Tourism Promotion | ||
| 56 | 68 O.S. § 2357.40 | Film Or Music Production Related | Tax Credit Related to Film Or Music Production Facility; Tourism Promotion | ||
| 57 | 68 O.S. § 2357.403 | Affordable Housing | Oklahoma Affordable Housing Tax Credit | ||
| 58 | 68 O.S. § 2357.405 | Qualified Software Or Cybersecurity Employees | Qualified Software Or Cybersecurity Employees | ||
| 59 | 68 O.S. § 2357.41 | Historic Rehabilitation | Tax Credit for qualified rehabilitation expenditures - Certified historic structures. | ||
| 60 | 68 O.S. § 2357.42 | Space Transportation Vehicle Provider | Tax Credit for qualified Oklahoma space transportation vehicle providers | ||
| 61 | 68 O.S. § 2357.43 | State earned income Tax credit. | Tax Credit for State earned income | ||
| 62 | 68 O.S. § 2357.45 | Biomedical or Cancer Research | Tax Credit for Donation to independent biomedical or cancer research institute - | ||
| 63 | 68 O.S. § 2357.46 | Energy Efficient Homes | Tax Credit for contractor expenditures for construction of certain energy efficient residential properties. | ||
| 64 | 68 O.S. § 2357.47 | Wages Paid To An Injured Employee | Tax Credit for Eligible Wages Paid by an Employer to an Injured Employee; Modification Expenses Paid by an Employer for an Injured Employee | ||
| 65 | 68 O.S. § 2357.59 | Other Credits Notes: (1) (3) (4) | |||
| 66 | 68 O.S. § 2357.6 | Energy Conservation Assistance Fund | Tax Credit for the Energy Conservation Assistance Fund; | ||
| 67 | 68 O.S. § 2357.66 | Ethanol facilities | Tax credits for certain ethanol facilities | ||
| 68 | 68 O.S. § 2357.67 | Biodiesel Facilities | Tax Credit for certain biodiesel facilities; | ||
| 69 | 68 O.S. § 2357.81 | Oklahoma Local Development And Enterprise Zone Incentive Leverage Act Credit | Oklahoma Local Development And Enterprise Zone Incentive Leverage Act Credit | ||
| 70 | 68 O.S. § 2907 | Low Income Property Tax Relief | Tax Credit for Low Income Property Tax Relief | ||
| 71 | 68 O.S. § 3202 | Development of Commerical Space Industries | Tax Credit for Deeds or instruments to which the Oklahoma Space Industry Development Authority or a spaceport user is a party. | ||
| 72 | 68 O.S. § 54002 | Research And Development New Jobs Credit | Tax Credit for research and development Research and Development Incentives Act | ||
| 73 | 68 O.S. § 54006 | Oklahoma Research and Development Incentives Act | Tax Credit for Oklahoma Research and Development Incentives Act | ||
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Notes: A partial lists of 2007, 2008 and 2009 tax credits, required to be reported on Oklahoma's Datagov Tax Credits (Openbooks) dlo. Learn more x = Never reported. f = Fives ways to monetize m = Mineral Royalty owners only i = Insurance companies only b = Banks onlyg Yrs Delayed = years late in reporting i = tax credits claimed for investment. u = tax credits used to avoid paying state income taxes. |