INCENTIVE DESCRIPTION

State: OK
Incentive Type: Income/Franchise Tax Incentives and Credits
Incentive Title: Other Tax Credits
Description: 1) NEW PRODUCTS DEVELOPMENT INCOME TAX EXEMPTION Royalties earned by an inventor on products developed and manufactured in OK are exempt from income tax for 7 years. Also available is an exclusion of 65% of the cost of depreciable property purchased and used directly in manufacturing of a product developed in OK. 2) INCENTIVES ON FORMER INDIAN RESERVATION LANDS Businesses locating or expanding in/on any former Indian Reservation lands benefit by accelerated depreciation of investment or by employemnt tax credits wehn employing tribal members or their spouses. 3) PROVISION OF CHILDCARE CREDIT Eligible businesses may take a credit equal to 20% of eligible expenses.4) ALTERNATIVE ENERGY SOURCES TAX CREDITS Eligible businesses are allowed a credit for up to 10 years on qualified costs. 5) FILM ENHANCEMENT REBATE ACT Eligible businesses are allowed a rebate of up to 15% of qualified expenditures.
Eligibility Requirements: Must be a qualified business and meet all requirements for each credit.
Geographic Restrictions: Statewide
Granting Authority: State of Oklahoma


The information which you have reviewed is a summary of the benefits and savings which may be available for your company. To receive a more detailed analysis of valuable opportunities for your company, please forward your contact information to Larry Kramer at lkramer@incentisgroup.com

Impotant Legal Information
Information is provided in summary form and should not be considered legal, investing, or other business advice. Its receipt does not create a relationship between Incentis Group and recipient. All information is believed to be accurate at the time of printing but should not be relied upon, and no decisions should be made, without consulting the full text of the applicable statutes and seeking independent counsel. Incentis Group and FastFacility make no representation as to the eligibility of a company or person to receive any incentives.