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Oklahoma Tax Credit Types

Yellow denotes hidden ways tax credits monetized (counterfeit tax credits are laundered.)

State Statute Credit Type Amount Notes
Tax Refund Types
  68 O.S. § 1001 Gross Production Tax on Certain Interests (GPT Refunds) 100% 1
68 O.S. § 1101 Excise Tax on Petroleum Oil (GPT Refunds) 100% 1
68 O.S. § 1102 Excise Tax on Natural Gas and Casinghead Gas (GPT Refunds) 100% 1
Tax Credits Swapped for GP Tax Refunds
68 O.S. § 2357.62 Small Business Capital (SBC) 20% 3, 5, 6
68 O.S. § 2357.63 Small Business Venture (In-conjunction) (SBV) 20% 3, 5, 6
68 O.S. § 2357.73 Rural Small Business Capital  (RSBC) 30% 3, 5, 6
68 O.S. § 2357.74 Rural Small Business Venture (In-conjunction) (RSBV) 30% 3, 5, 6
Tax Credits used to avoid paying the following taxes
68 O.S. § 2370 Privilege Tax. In lieu taxes for state, national banking associations and credit unions 2
36 O.S. § 625.1.
Insurance premium Tax Credit. Report of premiums, fees and taxes.
2, 5
36 O.S. § 2030 (I) Life and Health Guaranty Fund Assessment Credit 5
36 O.S. § 625.4 P&C Guaranty Fund Assessment Credit 5
36 O.S. § 624(A)(2) Premium Credits to Public Service Authorities 5
36 O.S. § 625.1 Home Office Credit 5
36 O.S. § 628 Federal Reinsured Crop and Flood Premiums 5
Tax credits its believed a larger percentage was uncovered
Tax Credits known or suspected of being involved wrong doing
68 O.S. § 2357.62 Small Business Capital (SBC)
§ 2357.60. Short Title
§ 2357.61. Definitions
§ 2357.61a. Moratorium on Tax Credits - Qualified Investment in Qualified Small Business Capital Companies and Ventures
§ 2357.62. Tax Credit for Qualified Investment in Qualified Small Business Capital Companies - Pass-Through Entities
§ 2357.63. Tax Credit for Qualified Investments in Oklahoma Small Business Ventures - Pass-Through Entities
§ 2357.63A. Requirements to Claim Tax Credits - Recapture - Subordinated Debt
§ 2357.63B. Recapture Event
§ 2357.63C. Required Records
§ 2357.63D. Determination Letters
§ 2357.63E. Timing
§ 2357.64. Required Reports - Financial Statements - Penalties
§ 2357.65. Report of Credits Claimed and Allowed
§ 2357.65A. Federally Regulated Investment Companies Duties to the State - Tax Reporting
20% 3, 5, 6
68 O.S. § 2357.73 Rural Small Business Capital  (RSBC)
§ 2357.71. Short Title
§ 2357.72. Definitions
§ 2357.72a. Moratorium on Tax Credits - Qualified Investment in Rural Small Business Capital Companies and Ventures
§ 2357.73. Tax Credit for Qualified Investment in Qualified Rural Small Business Capital Companies - Pass-Through Entities
§ 2357.74. Tax Credit for Qualified Investment in Oklahoma Rural Small Business Ventures - Pass-Through Entities
§ 2357.74A. Requirements to Claim Tax Credits - Recapture - Subordinated Debt
§ 2357.74B. Recapture Event
§ 2357.74C. Required Records
§ 2357.74D. Determination Letters
§ 2357.74E. Timing
§ 2357.75. Required Reports - Penalties
§ 2357.76. Report of Credits Claimed and Allowed
§ 2357.76A. Federally Regulated Investment Companies

30% 3, 5, 6
74 O.S. § 5085 Oklahoma Capital Formation Act
§ 5085.1. Short Title
§ 5085.2. Oklahoma Needs
§ 5085.3. Oklahoma Capital Investment Board (OCIB) - Mission
§ 5085.4. Oklahoma Capital Investment Board OCIB) - Subjection to Policy Development of Oklahoma Futures
§ 5085.5. Definitions
§ 5085.6. Oklahoma Capital Investment Board (OCIB) - Directors - Chairman - Meetings - Conflict of Interest
§ 5085.7. Issuance of Tax Credits
§ 5085.8. Investments
§ 5085.9. Publication of Separate Annual Report in Conjunction with Annual Audit - Review by Oklahoma Futures
§ 5085.10. Authority to Expend Funds to Administer and Operate Programs of Board
§ 5085.11. Creation of Oklahoma Capital Formation Revolving Fund
§ 5085.12. Construction of Act
§ 5085.14. Authority to Adopt Rules, Policies, Procedures and Regulatory and Administrative Measures
§ 5085.15. Disposition of Funds Remaining after Payment of Expenses and Obligations
§ 5085.15. Effect of Act upon Enforceability of Obligations or Liabilities of the Oklahoma Capital Investment Board

$100 million 5, 7
68 O.S. § 2357.4 Oklahoma Investment/New Jobs Credit (InvNJ) 2% or $1K per new job 2% 8
68 O.S. § 2357.7 Venture Capital Investment (VC)
§ 2357.7. Credit Against Tax for Investments in Qualified Venture Capital Companies - Pass-Through Entities
§ 2357.7A. Oklahoma Tax Commission Report
§ 2357.8. Qualified Venture Capital Company Report and Written Statements - System for Registration of Income Tax Credits
§ 2357.8A. Recapture Events
20% 4, 5
58
Other Tax Credits with partial amounts uncovered included in total
68 O.S. § 2357.32A
Electricity Generated By Zero-Emission Facilities
 
27A O.S. § 2-11-303
Hazardous Waste Control Recycling Facility
68 O.S. § 2357.104
Railroad Modernization
68 O.S. § 2357.11 Coal Credit 5
68 O.S. § 2357.22 Clean-burning or electric motor vehicle
68 O.S. § 2357.25 Oklahoma Agricultural Producers Credit
68 O.S. § 2357.30 Small Business Guaranty Fee
68 O.S. § 2357.303 Paid Employer in Aerospace Sector
68 O.S. § 2357.41 Rehabilitation Expenditures 5
68 O.S. § 2357.42 Space Transportation Vehicle Provider
68 O.S. § 2357.46 Energy Efficient Homes
68 O.S. § 2357.67 Biodiesel Facilities
68 O.S. § 2358.7 Volunteer Firefighter Credit
Other Tax Credits with partial amounts uncovered but not addressed
68 O.S. § 2357.81 Local Enterprise Zone Development 
68 O.S. § 1370.3 Low Income Sales Tax Relief
68 O.S. § 2357
Gas Used In Manufacturing
68 O.S. § 2357.100 Poultry Litter
68 O.S. § 2357.101 Film Or Music Project
68 O.S. § 2357.102 Dry Fire Hydrant Credit
68 O.S. § 2357.13 Commercial space industry
68 O.S. § 2357.201 High-Speed Transaction Processing Facilities
68 O.S. § 2357.203 Breeders Of Specially Trained Canines
68 O.S. § 2357.204 Refinery Treatment
68 O.S. § 2357.205 Compliance with Sulfur Regulations
68 O.S. § 2357.24 Historic battle sites
68 O.S. § 2357.25A Agricultural processing marketing associations
68 O.S. § 2357.26 Employers Providing Child Care Programs
68 O.S. § 2357.27 Child Care Service Providers
68 O.S. § 2357.28 Nonstop Air Service From Oklahoma To The Coast
68 O.S. § 2357.302 Employer Tuition Reimbursement for Qualified 
68 O.S. § 2357.31 Health Insurance
68 O.S. § 2357.32 Energy systems
68 O.S. § 2357.32B Manufacturers Of Small Wind Turbines  
68 O.S. § 2357.33 Food Service Pay Hepatitis A Vaccination For Their Employees
68 O.S. § 2357.34 - .40 Film Or Music Production Related  
68 O.S. § 2357.402 Electric Motor Vehicle Manufacturers 
68 O.S. § 2357.403 Affordable Housing Tax Credit 5
68 O.S. § 2357.43 State earned income Tax credit.
68 O.S. § 2357.45 Biomedical or Cancer Research
68 O.S. § 2357.47 Wages Paid To An Injured Employee
68 O.S. § 2357.59 Other Credits (state type ____________________________) 3, 4, 6
68 O.S. § 2357.6
Energy Conservation Assistance Fund
68 O.S. § 2357.66 Ethanol facilities
68 O.S. § 2370.3 Stafford Loan Origination Fee
68 O.S. § 2907 Low Income Property Tax Relief
68 O.S. § 3202 Development of Commerical Space Industries
68 O.S. § 5011  Sales Tax Relief Credit under
68 O.S. § 54002 Research And Development New Jobs Credit
68 O.S. § 54006 Oklahoma Research and Development Incentives Act
68 O.S. § 1215 - 1228 Business Activity
68 O.S. § 2357.401
Wire Transfer Fee
Notes
False reported mulitple ways wrong type, wrong year, wrong amount, missing original receiptent, missing chain of custody…
(1) Taxes tax credits were swapped for tax refunds
(2) Taxes tax credits were used to avoid paying
(3) Capital Formation Incentive Act. 68 O.S. § 2357.62, .63, .73, .74
(4) Venture Capital. 68 O.S. § 2357.7
(5) Insurance Premium Tax (Tax Credit used to offset Insurance Premium Tax). 36 O.S. § 625.1.
(6) Bank Privilege Tax (Bank In Lieu Tax). 68 O.S. § 2370
(7) Created and immediately started admending in a way that reinvented the programs. Amended so many times the program was ended and reincarnated with a new name and number
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