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New
Another Tax credit letter causes public outcry September 22, 2007
Altus Ventures - Quartz Mountain Aerospace
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Update
This Altus Ventures/QMA venture resulted in barely 100 jobs lasting only a few years.
Costing the state nearly $700,000 for each job paying $30,000.
June 1, 2007 - Quartz Mountain announced the layoff of 20 of its 104 employees.
See more
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Rocketplane Oklahoma subdizing a thrill ride for the wealthy and a Texas wedding.
State cost $15 million. Delay after delay.
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Great Plains Airlines tax credit abuse. State cost $27 million. Went belly up.
View
Reference news articles
Owl's Growl and Howl
Oklahoma has gone way beyond what most people believe that lobbyist are buying lunches and
paying golf fees.
Lobbyists are writing legislation, and allowed unfettered access to legislation that allows
them to change the wording, without legislators "officially" knowing, according to
Senator Ted Fisher. [Ref A103]
Someone is controlling the Tax Commission in a way that the Tax Commission is
approving tax rebate request for businesses containing obviously fraudulent content.
Obviously fraudulent when a plan for $32 million, entitled to a 30% risk offset, receives
$66.3 million.
Our Governor and Attorney General are willfully failing to act on these violations of our
state constitution and laws.
Additional articles
Tax Shams. Oklahoma officials claim this is as merely an incidental windfall.
The IRS views schemes like this as
Theodore Craft, a tax Attorney, formerly with the IRS Office of Chief Counsel. [M102]
Tax credit being abused, officials say."A tax credit program designed
to stimulate job growth is being abused by investors who are
realizing millions of dollars in gains without providing the
intended economic development benefits to Oklahoma".
AP, March 9, 2006 [Ref A101]
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Additional explanation and supporting information. | |
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Scams Index | |
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Oklahoma flim-flam sham. How scam works. | |
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Hired gun tax attorneys | |
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Known tax credit venture participants.
Some receiving scandalous amounts of tax credits. | |
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How the tax credit scam came about. | |
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Dubious relation in Oklahoma's legislative branch with tax credit abuse promoter. | |
| | View | | Other States
Similar scams in other states. Louisiana and Missouri. | |
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Current status. Changes to tax credit program. | |
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Loophole in tax law threatens budget.
A tax loophole so big it threatens to cripple the state budget has
lawmakers scrambling at the state Capitol. [Ref A103]
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Definition accredited investor, more commonly known as a wealthy investor. | |
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Oklahoma's Capital Formation Incentive Act | |
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Tax abuse site map. | |
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