reglab/statecodes huggingface dataset:
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-81 - Credit for qualified clean-burning motor vehicle fuel property

Current through Vol. 41, No. 20, July 1, 2024
(a)
Definitions.
For purposes of the clean-burning motor vehicle fuel
				  property credit,
"
motor vehicle
"
means a
				  motor vehicle originally designed by the manufacturer to operate lawfully and
				  principally on streets and highways
. [
See:
68 O.S. §
				  2357.22(C)]
"Vehicle"
shall not mean conveyor belts, forklifts,
				  riding mowers, tractors, or other similar items. An entity that converts
				  property to qualified clean-burning motor vehicle fuel property may lease such
				  property and retain the right to claim the credit. Property on which the credit
				  has previously been claimed is ineligible for the credit.
(b)
Limitations of eligibility.
No qualified establishment, nor its contractors or subcontractors, that has
				  received or is receiving an incentive payment pursuant to Section 3601 et seq.
				  of the Oklahoma Statutes, (Oklahoma Quality Jobs Program Act), or Section 3901
				  et seq. of the Oklahoma Statutes, (Small Employer Quality Jobs Incentive Act),
				  shall be eligible to receive the credit for qualified clean-burning motor
				  vehicle fuel property provided by 68 O.S.§2357.22, in connection with the
				  activity and establishment for which incentive payments have been, or are being
				  received. [
See:
68 O.S. §§3607, 3909]
(c)
Sunset date.
This credit
				  will only be available through tax years beginning before December 31, 2027.
(d)
Tax credit
				  limitation.
For tax years beginning on or after January 1, 2020, the
				  total amount of credits used to offset tax shall be adjusted annually to limit
				  the annual amount of credits to Twenty Million Dollars ($20,000,000.00). The
				  Tax Commission shall annually calculate and publish by the first day of the
				  affected taxable year a percentage by which the credits shall be reduced so the
				  total amount of credits used to offset tax does not exceed Twenty Million
				  Dollars ($20,000,000.00) per year.
Added at 11 Ok Reg
					 555, eff 11-10-93 (emergency); Added at 11 Ok Reg 3497, eff 6-26-94; Amended at
					 13 Ok Reg 3105, eff 7-11-96; Amended at 15 Ok Reg 2699, eff 6-26-97; Amended at
					 15 Ok Reg 2811, eff 6-25-98; Amended at 21 Ok Reg 2571, eff 6-25-04; Amended at
					 26 Ok Reg 2330, eff 6-25-09; Amended at 27 Ok Reg 2281, eff 7-11-10; Amended at
					 28 Ok Reg 18, eff 8-9-10 (emergency); Amended at 28 Ok Reg 935, eff
					 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-82 - Amendment and repeal of certain tax credit provisions; preservation of certain claims under repealed law [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 11 Ok Reg
					 555, eff 11-10-93 (emergency); Added at 11 Ok Reg 3497, eff 6-26-94; Amended at
					 28 Ok Reg 935, eff 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-83 - Limitation of credits allowed by the Oklahoma Quality Jobs Program, the Small Employer Quality Jobs Incentive Acts and the 21st Century Quality Jobs Incentive Act

Current through Vol. 41, No. 20, July 1, 2024
No establishment which qualifies under the terms of
					 Section 3601 et seq. of the Oklahoma Statutes, (Oklahoma Quality Jobs Program
					 Act), Section 3901 et seq. of the Oklahoma Statutes, (Small Employer Quality
					 Jobs Incentive Act), or Section 3911 et seq. of the Oklahoma Statutes (21 
					 st Century Quality Jobs Incentive
					 Act) and has received or is receiving incentive payments pursuant to those
					 Acts, nor its contractors or subcontractors, shall be eligible to receive, in
					 connection with the activity and establishment for which incentive payments
					 have been, or are being received, the credits described as follows:
(1) The investment credit provided for by 68
				  O.S. §2357.4. [See:
				  710:50-15-74 ]
(2) The credit for investments in qualified
				  venture capital companies provided for by 68 O.S. §2357.7. [See:
				  710:50-15-77 and
				  710:50-15-78 ]
(3) The credit for clean-burning motor
				  vehicle fuel property, provided for by 68 O.S. §2357.22. [See:
				  710:50-15-81 ]
(4) The credits provided pursuant to the
				  Oklahoma Research and Development Incentives Act, 68 O.S. §54003.
Added at 11 Ok Reg
					 555, eff 11-10-93 (emergency); Added at 11 Ok Reg 3497, eff 6-26-94; Amended at
					 15 Ok Reg 2811, eff 6-25-98; Amended at 27 Ok Reg 2281, eff
					 7-11-10
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-84 - Recycling facility credit [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 14 Ok Reg
					 2699, eff 6-26-97; Amended at 15 Ok Reg 2811, eff 6-25-98; Amended at 28 Ok Reg
					 18, eff 8-9-10 (emergency); Amended at 28 Ok Reg 935, eff
					 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-85

Current through Vol. 41, No. 20, July 1, 2024
Added at 14 Ok Reg
					 2699, eff 6-26-97; Amended at 18 Ok Reg 2810, eff 6-25-01; Amended at 23 Ok Reg
					 2824, eff 6-25-06; Amended at 28 Ok Reg 18, eff 8-9-10 (emergency); Amended at
					 28 Ok Reg 935, eff 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-86 - Small Business Capital Company / Oklahoma Small Business Venture credits [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 15 Ok Reg
					 2811, eff 6-25-98; Amended at 16 Ok Reg 2646, eff 6-25-99; Amended at 18 Ok Reg
					 2810, eff 6-25-01; Amended at 19 Ok Reg 2433, eff 6-27-02; Amended at 22 Ok Reg
					 1532, eff 6-11-05; Amended at 24 Ok Reg 2359, eff 6-25-07; Amended at 26 Ok Reg
					 2330, eff 6-25-09; Amended at 27 Ok Reg 2281, eff 7-11-10; Amended at 28 Ok Reg
					 18, eff 8-9-10 (emergency); Amended at 28 Ok Reg 935, eff
					 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-86.1 - Letter rulings pursuant to the Small Business Capital Formation Incentive Act [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 24 Ok Reg
					 2359, eff 6-25-07; Amended at 25 Ok Reg 728, eff 12-27-07 (emergency); Amended
					 at 25 Ok Reg 2056, eff 7-1-08; Amended at 26 Ok Reg 2330, eff
					 6-25-09
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-87 - Oklahoma Rural Small Business Capital Company / Rural Small Business Venture credits [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 18 Ok Reg
					 2810, eff 6-25-01; Amended at 19 Ok Reg 2433, eff 6-27-02; Amended at 24 Ok Reg
					 2359, eff 6-25-07; Amended at 26 Ok Reg 2330, eff 6-25-09; Amended at 27 Ok Reg
					 2281, eff 7-11-10; Amended at 28 Ok Reg 18, eff 8-9-10 (emergency); Amended at
					 28 Ok Reg 935, eff 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-87.1 - Letter rulings pursuant to the Rural Venture Capital Formation Incentive Act [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 24 Ok Reg
					 2359, eff 6-25-07; Amended at 25 Ok Reg 728, eff 12-27-07 (emergency); Amended
					 at 25 Ok Reg 2056, eff 7-1-08; Amended at 26 Ok Reg 2330, eff
					 6-25-09
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-88 - Tourism attraction project credit [RESERVED]

Current through Vol. 41, No. 20, July 1, 2024
Reserved at 18 Ok Reg
					 2810, eff 6-25-01
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-89 - Oklahoma coal production credit [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 19 Ok Reg
					 2433, eff 6-27-02; Amended at 20 Ok Reg 2165, eff
					 6-26-03
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-90 - Oklahoma earned income tax credit

Current through Vol. 41, No. 20, July 1, 2024
(a)
				  Effective for tax years beginning on or after January 1, 2002, there shall be
				  an Oklahoma Earned Income Tax Credit (EITC) for resident and part year resident
				  individuals.
(b) The Oklahoma EITC
				  shall be an amount equal to five percent (5%) of the Federal Earned Income Tax
				  Credit allowed under Section 32 of the Internal Revenue Code.
(1) Effective for tax years 2016 through
				  2021, if the credit exceeds the tax imposed by Section
				  2355
				  of Title 68, the excess amount shall not be refunded to the taxpayer, nor shall
				  any amount be carried forward to a subsequent tax year.
(2) For tax years beginning on or after
				  January 1, 2022:
(A) If the credit exceeds
				  the tax imposed by Section
				  2355
				  of Title 68, the excess amount shall be refunded to the taxpayer.
(B) The credit
shall be computed
				  using the same requirements, other than the five percent (5%) amount to compute
				  the credit as prescribed by this section which shall remain constant, in effect
				  for computation of the earned income tax credit for federal income tax purposes
				  for the 2020 income tax year.
[68 O.S. §
				  2357.43]
(3) The Oklahoma
				  EITC may not be paid in advance and must be claimed on the individual income
				  tax return when filed.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-91 - Credit for employers incurring expenses for the provision of child care services

Current through Vol. 41, No. 20, July 1, 2024
(a)
General
				  Provisions.
There shall be a non-refundable tax credit against the tax
				  imposed by 68 O.S. §
										2355
				  for employers incurring eligible expenses in the connection with providing
				  child care services for children of their employees. The credit is based on the
				  amount of eligible expenses incurred prior to January 1, 2014, and shall be
				  twenty percent (20%) of the eligible expense subject to limits based on the
				  type of expense. The credit is effective for tax years beginning after December
				  31, 2001.
(b)
Eligible
				  expenses subject to the $3,100.00 cap.
Eligible expenses subject to the
				  $3,100.00 cap per employee-child are those amounts paid for the purchase of
				  child care services for children of employees at a facility licensed by the
				  Department of Human Services and rated at least two stars.
(c)
Eligible expenses subject to the
				  $50,000.00 cap.
Eligible expenses subject to the $50,000.00 cap are
				  those expenses associated with providing a child care center. These include
				  expenses associated with planning, preparing, constructing, or expanding a
				  child care center; equipment for a child care center; or maintenance and
				  operating expenses of a child care center, including direct administrative and
				  staff costs.
(d)
Eligible
				  expenses subject to the $5,000.00 cap.
Eligible expenses subject to the
				  $5,000.00 cap are those expenses for fees and grants to child care resource and
				  referral organizations doing business within Oklahoma.
(e)
Credit is in lieu of expense
				  deduction.
The credit for employers incurring expenses for the provision
				  of child care services shall be in lieu of a deduction of eligible expenses
				  used in computing Oklahoma taxable income. If the credit is claimed or
				  generated, then none of the expenses on which the credit is based shall be
				  allowed as deduction in calculating Oklahoma taxable income.
(f)
Carryforward allowed.
Credits generated but not used are allowed to be carried forward four (4) years
				  following the year generated.
(g)
Tax credit moratorium.
No credit may be claimed for any
				  expenditure occurring during the period of July 1, 2010 through June 30, 2012,
				  for which the credit would otherwise be allowable. This credit may be claimed
				  for tax year 2012 and subsequent tax years, for eligible expenditures occurring
				  on or after July 1, 2012.
Added at 20 Ok Reg
					 2165, eff 6-26-03; Amended at 28 Ok Reg 18, eff 8-9-10 (emergency); Amended at
					 28 Ok Reg 935, eff 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-92 - Credit for manufacturers of advanced small wind turbines

Current through Vol. 41, No. 20, July 1, 2024
(a)
General
				  provisions.
Oklahoma manufacturers of advanced small wind turbines may
				  claim an Oklahoma income tax credit for manufacturing advanced small wind
				  turbines in this state. This credit is available for advanced small wind
				  turbines manufactured between January 1, 2003 and December 31, 2012.
(b)
Definitions.
The following
				  words and terms, when used in this Section, shall have the following meaning,
				  unless the context clearly indicates otherwise:
(1)
"Advanced small wind turbines
				  (ASWT)"
are upwind, furling wind turbines that have a rated capacity of
				  at least one kilowatt (1kw) but no more than fifty kilowatts (50kw). The wind
				  turbine must also incorporate advanced technologies such as new airfoils, new
				  generators, new power electronics, and variable speed. In order to qualify as
				  an advanced small wind turbine, at least one unit of each model must have
				  undergone testing at the United States Department of Energy National Wind
				  Technology Center and must comply with appropriate interconnection safety
				  standards of the Institute of Electrical and Electronics Engineers as are
				  applicable to small wind turbines.
(2)
"Rotor Swept Area"
means an
				  area calculated by using the formula pi times D2
				  divided by 4, (D being the rotor diameter in feet, pi = 3.1416).
(3)
"Oklahoma manufacturer"
means, for purposes of this Section, a manufacturer who operates facilities
				  that have the capability of manufacturing small wind turbine products in this
				  state.
(4)
"Small wind
				  turbine products"
means and includes rotor blades and alternator
				  fabrication.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-93

Current through Vol. 41, No. 20, July 1, 2024
Added at 21 Ok Reg
					 353, eff 12-10-03 (emergency); Added at 21 Ok Reg 2571, eff
					 6-25-04
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-94 - Volunteer firefighter credit

Current through Vol. 41, No. 20, July 1, 2024
(a)
General provisions.
An income tax credit of Two Hundred Dollars
				  ($200.00) is available for a volunteer firefighter who has completed at least
				  twelve (12) hours toward the State Support or State Basic Firefighter or
				  Firefighter I offered by Oklahoma State University Fire Service Training or
				  Oklahoma Department of Career and Technology Education. After the initial year,
				  an additional Two Hundred Dollar ($200.00) income tax credit is allowed each
				  year the volunteer firefighter has completed an additional six (6) hours of
				  State Support or State Basic Firefighter or Firefighter I from an
				  internationally recognized accrediting assembly or board, their equivalent, or
				  other related fire or emergency medical services training approved by the State
				  Fire Marshall Commission until such program or its equivalent is
				  completed.
(b)
Advanced
				  training credit.
An income tax credit of Four Hundred Dollars ($400.00)
				  each year is available for a volunteer firefighter who, after completing the
				  State Support or State Basic Firefighter program:
(1) Completes at least six (6) hours of
				  continuing education each year until the firefighter completes Intermediate or
				  Advanced Firefighter or Firefighter I from an internationally recognized
				  accrediting assembly or board, their equivalent, or other related fire or
				  emergency medical services training approved by the State Fire Marshall
				  Commission or its equivalent;
(2)
				  After completion of Intermediate or Advanced Firefighter or Firefighter I, the
				  volunteer firefighter shall complete six (6) hours of training per year to
				  claim the tax credit;
(3) Provides
				  documentation from the fire chief of the applicable department that the
				  firefighter has participated in all annual training as required by federal and
				  state authorities; and,
(4)
				  Provides documentation from the fire chief of the applicable department that
				  the volunteer firefighter has met the requirements under the fire department's
				  constitution and bylaws and is a member in good standing of the department
				  together with a record of the total number of years of service in good standing
				  with such department.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-95

Current through Vol. 41, No. 20, July 1, 2024
Added at 22 Ok Reg
					 1532, eff 6-11-05; Amended at 26 Ok Reg 2330, eff 6-25-09; Amended at 28 Ok Reg
					 18, eff 8-9-10 (emergency); Amended at 28 Ok Reg 935, eff
					 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-96 - Sales tax relief credit

Current through Vol. 41, No. 20, July 1, 2024
(a)
General provisions.
Eligible individual taxpayers may claim an
				  income tax credit for "Sales Tax Relief" pursuant to 68 O.S. §
										5011. The
				  credit is forty dollars ($40.00) multiplied by the number of allowable personal
				  exemptions the taxpayer is entitled to claim under the Oklahoma Income Tax
				  Act.
(b)
Eligible
				  taxpayers.
For purposes of this Section,
"Eligible
				  Taxpayer"
means an individual who is a resident of, and domiciled in
				  Oklahoma, for the entire calendar year.
(c)
Gross Household Income.
For
				  purposes of this Section
"Gross Household Income"
is the gross
				  income of every type received by all persons occupying the same household. It
				  includes, but is not limited to, pensions, annuities, federal social security
				  benefits, unemployment payments, veterans disability compensation, loss-of-time
				  insurance payments, capital gains, and any other type of income. It is not
				  relevant whether or not the income is taxable for state or federal income tax
				  purposes.
"Gross Household Income"
does not include gifts, or
				  income that is considered deferred.
(d)
Eligibility for tax year
				  2004.
To be eligible to claim this credit, the following Gross Household
				  Income limits apply for tax year 2004:
(1)
				  For those taxpayers that can claim no allowable personal exemption other than
				  themselves or their spouse, Gross Household Income cannot exceed Fifteen
				  Thousand Dollars ($15,000.00).
(2)
				  For those taxpayers who can claim a personal exemption other than themselves or
				  their spouse; who are at least 65 years of age; or, who have a physical
				  disability that is a substantial handicap to employment, Gross Household Income
				  cannot exceed Thirty Thousand Dollars ($30,000.00).
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-97

Current through Vol. 41, No. 20, July 1, 2024
Added at 23 Ok Reg
					 2824, eff 6-25-06; Amended at 28 Ok Reg 18, eff 8-9-10 (emergency); Amended at
					 28 Ok Reg 935, eff 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-98

Current through Vol. 41, No. 20, July 1, 2024
Added at 23 Ok Reg
					 2824, eff 6-25-06; Amended at 25 Ok Reg 2056, eff 7-1-08; Amended at 26 Ok Reg
					 2330, eff 6-25-09; Amended at 28 Ok Reg 18, eff 8-9-10 (emergency); Amended at
					 28 Ok Reg 935, eff 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-99

Current through Vol. 41, No. 20, July 1, 2024
Added at 23 Ok Reg
					 2824, eff 6-25-06; Amended at 28 Ok Reg 18, eff 8-9-10 (emergency); Amended at
					 28 Ok Reg 935, eff 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-100 - Credit for qualified wages, capital expenditures, and training expenses [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 23 Ok Reg
					 2824, eff 6-25-06; Amended at 26 Ok Reg 2330, eff
					 6-25-09
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-101 - Twenty-five percent (25%) Film and Music Profit Reinvestment Credit [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 23 Ok Reg
					 2824, eff 6-25-06; Amended at 24 Ok Reg 2359, eff 6-25-07; Amended at 28 Ok Reg
					 18, eff 8-9-10 (emergency); Amended at 28 Ok Reg 935, eff
					 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-103 - Credit for qualified railroad reconstruction or replacement expenditures

Current through Vol. 41, No. 20, July 1, 2024
(a)
General
				  provisions.
For tax years beginning after December 31, 2005, and ending
				  before January 1, 2025, there is a credit allowed against the tax imposed by
				  Section
				  2355
				  of Title 68 equal to 50% of an eligible taxpayer's qualified railroad
				  reconstruction or replacement expenditures. [68 O.S. § 2357.104]
(b)
Definitions.
The following
				  words and terms, when used in this Section, shall have the following meaning,
				  unless the context clearly indicates otherwise:
(1)
"Eligible taxpayer"
means
				  any railroad that is classified by the United States Surface Transportation
				  Board as a Class II or Class III railroad.
(2)
"Qualified railroad reconstruction
				  or replacement expenditures"
means expenditures for track maintenance,
				  natural disasters, and reconstruction or replacement of railroad
				  infrastructure. This includes track, roadbed, crossings, bridges, industrial
				  leads and track-related structures owned or leased by a Class II or Class III
				  railroad as of January 1, 2006. Qualified railroad reconstruction or
				  replacement expenditures can also include new construction of industrial leads,
				  switches, spurs and sidings and extensions of existing sidings by a Class II or
				  Class III railroad.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-104

Current through Vol. 41, No. 20, July 1, 2024
Added at 23 Ok Reg
					 2824, eff 6-25-06; Amended at 24 Ok Reg 2359, eff 6-25-07; Amended at 28 Ok Reg
					 18, eff 8-9-10 (emergency); Amended at 28 Ok Reg 935, eff
					 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-106 - Credits for ethanol production [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 23 Ok Reg
					 2824, eff 6-25-06; Amended at 25 Ok Reg 2056, eff 7-1-08; Amended at 28 Ok Reg
					 18, eff 8-9-10 (emergency); Amended at 28 Ok Reg 935, eff
					 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-107 - Eligible wage and modification expenses credits [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 23 Ok Reg
					 2824, eff 6-25-06; Amended at 25 Ok Reg 2056, eff 7-1-08; Amended at 28 Ok Reg
					 18, eff 8-9-10 (emergency); Amended at 28 Ok Reg 935, eff
					 6-1-11
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-108 - Credit for qualified rehabilitation expenditures

Current through Vol. 41, No. 20, July 1, 2024
(a)
General Provisions.
The
				  Credit for Qualified Rehabilitation Expenditures is one hundred percent (100%)
				  of the allowable federal rehabilitation credit provided for in Section 47 of
				  Title 26 of the United States Code. All rehabilitation work to which the Credit
				  for Qualified Rehabilitation Expenditures may be applied must be reviewed by
				  the State Historic Preservation Office. The State Historic Preservation Office
				  will forward the information to the National Park Service for certification in
				  accordance with 36 C.F.R., Part 67. A certified historic structure may be
				  rehabilitated for any lawful use or uses, including without limitation mixed
				  uses and still retain eligibility for the credit provided for in this
				  section.
(b)
Definitions.
(1)
"
Certified historic hotel or historic newspaper plant
				  building
" means a hotel or newspaper plant building that is
				  listed on the National Register of Historic Places within thirty (30) months of
				  taking the credit pursuant to 68 O.S. §
												2357.41.
(2)
"
Certified
				  historic structure
" means a building that is listed on the
				  National Register of Historic Places within thirty (30) months of taking the
				  credit pursuant to this section or a building located in Oklahoma which is
				  certified by the State Historic Preservation Office as contributing to the
				  historic significance of a certified historic district listed on the National
				  Register of Historic Places, or a local district that has been certified by the
				  State Historic Preservation Office as eligible for listing in the National
				  Register of Historic Places.
(3)
"
Qualified
				  rehabilitation expenditures
" means capital expenditures that
				  qualify for the federal rehabilitation credit provided in Section 47 of Title
				  26 of the United States Code and that were paid after December 31, 2000.
				  Qualified rehabilitation expenditures do not include capital expenditures for
				  nonhistoric additions except an addition that is required by state or federal
				  regulations that relate to safety or accessibility. In addition, qualified
				  rehabilitation expenditures do not include expenditures related to the cost of
				  acquisition of the property.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-109 - Credit for qualified employers and employees of the aerospace sector

Current through Vol. 41, No. 20, July 1, 2024
(a)
General
				  provisions.
For tax years beginning after December 31, 2008 and before
				  January 1, 2026, three (3) credits are allowed against the tax imposed by
				  Section
				  2355
				  of Title 68 for the employment of qualified employees in the aerospace sector.
				  The three (3) credits are as follows:
(1)
				  Credit for qualified employers for tuition reimbursement to qualified
				  employees.
(2) Credit for qualified
				  employers for compensation paid to qualified employees.
(3) Credit for qualified
				  employees.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-110 - Income tax credit moratorium [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 28 Ok Reg 18,
					 eff 8-9-10 (emergency); Added at 28 Ok Reg 935, eff 6-1-11; Amended at 29 Ok
					 Reg 1468, eff 6-25-12
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-111 - Wire transfer fee credit

Current through Vol. 41, No. 20, July 1, 2024
(a)
General provisions:
For taxable years ending before January 1,
				  2017, a credit is allowed against the tax imposed under 68 O.S. §
										2355
				  in the amount of all electronic funds transfers fees paid per 63 O.S. §
										2-503.1j
				  by any individual or entity.
(b)
When to claim credit:
The credit for fees paid between July 1,
				  2009 and December 31, 2010 cannot be claimed prior to January 1, 2011 and must
				  be claimed on the 2010 income tax return. The credit for fees paid on or after
				  January 1, 2011 must be claimed on the tax return that corresponds with the tax
				  year during which the fees were paid.
(c)
Credit non-refundable,
				  nontransferable; carryover provision.
This credit may not be taken as a
				  refund; nor may it be transferred. If the credit exceeds a taxpayer's
				  liability, unused credits may be carried over for five (5) succeeding
				  years.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-113 - Qualified independent biomedical research institute or qualified cancer research center credit

Current through Vol. 41, No. 20, July 1, 2024
(a)
General
				  provisions.
For tax years beginning after December 31, 2004, there is
				  allowed a credit against the tax imposed by 68 O.S. Section
				  2355
				  to any taxpayer who makes a donation to a qualified independent biomedical
				  research institute. For tax years beginning after December 31, 2010 any
				  taxpayer who makes a donation to a qualified cancer research institute is also
				  eligible for the credit.
(b)
Definitions.
(1)
"Qualified cancer research institute"
means an organization
				  which is exempt from taxation pursuant to the Internal Revenue Code whose
				  primary focus is raising the standard of cancer clinical care in Oklahoma
				  through peer-reviewed cancer research and education. The organization must be
				  either an independent research institute or a program that is part of a state
				  university which is a member of the Oklahoma State System of Higher Education
				  and must receive at least Four Million Dollars ($4,000,000) in National Cancer
				  Institute funding per year.
(2)
"Qualified independent biomedical
				  research institute"
means an organization which is exempt from
				  taxation under the Internal Revenue Code section 501(c)(3) whose primary focus
				  is conducting peer-reviewed basic biomedical research. The organization shall
				  have a board of directors, be able to accept grants in its own name, be an
				  identifiable institute that has its own employees and administrative staff, and
				  receive at least Fifteen Million Dollars ($15,000,000) in National Institute of
				  Health funding each year.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-114 - Credit for contributions to a scholarship-granting organization

Current through Vol. 41, No. 20, July 1, 2024
(a)
General
				  provisions.
An income tax credit is available for contributions to an
				  eligible scholarship-granting organization. [68 O.S. § 2357.206]
(b)
Credit.
The credit is
				  generally fifty percent (50%) of the total amount of contributions made during
				  a taxable year, not to exceed One Thousand Dollars ($1,000) for each taxpayer
				  or Two Thousand Dollars ($2,000) for married taxpayers filing jointly, or One
				  Hundred Thousand Dollars ($100,000) for any taxpayer which is a legal business
				  entity, subject to the limitation in (e) of this Section. Tax credits which are
				  allocated by a pass-through entity to equity owners are only limited in amount
				  for the income tax return of a natural person based upon the limitation of the
				  total credit amount to the entity from which the tax credits have been
				  allocated, and not limited to One Thousand Dollars ($1,000.00) for single
				  individuals or limited to Two Thousand Dollars ($2,000.00) for married persons
				  filing a joint return.
(c)
Additional year commitment.
For a taxpayer who makes an eligible
				  contribution and makes a written commitment to contribute the same amount for
				  an additional year, the credit shall be seventy-five percent (75%) of the total
				  amount of the contribution made during the taxable year. The taxpayer shall
				  provide evidence of the written commitment to the Tax Commission when the tax
				  return claiming the credit is filed the first year.
(d)
Registration.
An eligible
				  scholarship-granting organization is required to register with the Tax
				  Commission.
(e)
Limitation of
				  credit.
(1) If total credits claimed
				  exceed the caps established pursuant to 68 O.S. §2357.206(E), the credit
				  shall be equal to the taxpayer's proportionate share of the cap for the taxable
				  year. [
See
: 68 O.S. §2357.206(I)]
(2) At least once each taxable year, the
				  eligible scholarship-granting organization shall notify each contributor that
				  Oklahoma law provides for a total statewide cap on the amount of income tax
				  credits allowed annually.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-115 - Credit for contributions to an educational improvement grant organization

Current through Vol. 41, No. 20, July 1, 2024
(a)
General
				  provisions.
An income tax credit is available for contributions to an
				  eligible educational improvement grant organization. [68 O.S. §
				  2357.206]
(b)
Application.
An educational improvement grant organization shall
				  submit an application to the Tax Commission. The Tax Commission shall review
				  and approve or disapprove the application, in consultation with the State
				  Department of Education.
(c)
Credit.
The credit is generally fifty percent (50%) of the total
				  amount of contributions made during a taxable year, not to exceed One Thousand
				  Dollars ($1,000) for each taxpayer or Two Thousand Dollars ($2,000) for married
				  taxpayers filing jointly, or One Hundred Thousand Dollars ($100,000) for any
				  taxpayer which is a legal business entity, subject to the limitation in (e) of
				  this Section. Tax credits which are allocated by a pass-through entity to
				  equity owners are only limited in amount for the income tax return of a natural
				  person based upon the limitation of the total credit amount to the entity from
				  which the tax credits have been allocated, and not limited to One Thousand
				  Dollars ($1,000.00) for single individuals or limited to Two Thousand Dollars
				  ($2,000.00) for married persons filing a joint return.
(d)
Additional year commitment.
For a taxpayer who makes an eligible contribution and makes a written
				  commitment to contribute the same amount for an additional year, the credit
				  shall be seventy-five percent (75%) of the total amount of the contribution
				  made during the taxable year. The taxpayer shall provide evidence of the
				  written commitment to the Tax Commission when the tax return claiming the
				  credit is filed the first year.
(e)
Limitation of credit.
(1) If
				  total credits claimed exceed the caps established pursuant to 68 O.S.
				  §2357.206(E), the credit shall be equal to the taxpayer's proportionate
				  share of the cap for the taxable year. [
See
: 68 O.S.
				  §2357.206(I)]
(2) At least
				  once each taxable year, the educational improvement grant organization shall
				  notify each contributor that Oklahoma law provides for a total statewide cap on
				  the amount of income tax credits allowed annually.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-115.1 - Credit for contributions to a public school foundation or public school district

Current through Vol. 41, No. 20, July 1, 2024
(a)
General
				  provisions.
For contributions made on or after January 1, 2022, an
				  income tax credit is available for contributions to an eligible public school
				  foundation or public school district. [68 O.S. § 2357.206]
(b)
Application.
An eligible
				  public school foundation or public school district shall submit an application
				  to the Oklahoma Tax Commission. The Tax Commission shall review and approve or
				  disapprove the application, in consultation with the State Department of
				  Education.
(c)
Credit.
The credit is generally fifty percent (50%) of the total amount of
				  contributions made during a taxable year, not to exceed One Thousand Dollars
				  ($1,000) for each taxpayer or Two Thousand Dollars ($2,000) for married
				  taxpayers filing jointly, or One Hundred Thousand Dollars ($100,000) for any
				  taxpayer which is a legal business entity, subject to the limitation in (e) of
				  this Section. Tax credits which are allocated by a pass-through entity to
				  equity owners are only limited in amount for the income tax return of a natural
				  person based upon the limitation of the total credit amount to the entity from
				  which the tax credits have been allocated, and not limited to One Thousand
				  Dollars ($1,000.00) for single individuals or limited to Two Thousand Dollars
				  ($2,000.00) for married persons filing a joint return.
(d)
Additional year commitment.
For a taxpayer who makes an eligible contribution and makes a written
				  commitment to contribute the same amount for an additional year, the credit
				  shall be seventy-five percent (75%) of the total amount of the contribution
				  made during the taxable year. The taxpayer shall provide evidence of the
				  written commitment to the Tax Commission when the tax return claiming the
				  credit is filed the first year.
(e)
Limitation of credit.
(1) If
				  total credits claimed exceed the caps established pursuant to 68 O.S. §
				  2357.206(E), the credit shall be equal to the taxpayer's proportionate share of
				  the cap for the taxable year. [
See
: 68 O.S. §
				  2357.206(I)]
(2) At least once each
				  taxable year, the public school foundation or public school district shall
				  notify each contributor that Oklahoma law provides for a total statewide cap on
				  the amount of income tax credits allowed annually.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-116 - Credit for qualified employers and employees in the vehicle manufacturing industry

Current through Vol. 41, No. 20, July 1, 2024
(a)
General
				  provisions.
For tax years beginning after December 31, 2018, and ending
				  before January 1, 2026, three (3) credits are allowed against the tax imposed
				  by Section
				  2355
				  of Title 68 for the employment of qualified employees:
(1) Credit for qualified employers for
				  tuition reimbursement to qualified employees.
(2) Credit for qualified employers for
				  compensation paid to qualified employees.
(3) Credit for qualified employees.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-117 - Credit for qualified software or cybersecurity employee

Current through Vol. 41, No. 20, July 1, 2024
(a)
General provisions.
For tax
				  years beginning on or after January 1, 2020, and ending before January 1, 2030,
				  a qualified software or cybersecurity employee shall be allowed a credit
				  against the tax imposed pursuant to Section
				  2355
				  of Title 68, subject to the provisions of (d) of this Section.
(b)
Definitions.
The following
				  words and terms, when used in this Section, shall have the following meaning,
				  unless the context clearly indicates otherwise:
(1)
"Qualified software or
				  cybersecurity employee".
(A) A
				  qualified employee is any person newly employed in Oklahoma by a qualified
				  employer in a qualifying industry on or after November 1, 2019.
(B) The qualified employee must have been
				  awarded a degree in an accredited program from a degree-producing institution
				  as defined in 68 O.S. § 2357.405(A)(1), or has been awarded a certificate
				  or credential in an accredited program from a technology center.
(C) The qualified employee must be employed
				  in a qualifying industry by a qualified employer who pays its qualified
				  employees a qualifying compensation for the county in which the qualified
				  employer has its primary Oklahoma address.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 15 - Oklahoma Taxable Income › Part 7 - CREDITS AGAINST TAX › Section 710:50-15-118 - Credit for nonrecurring adoption expenses

Current through Vol. 41, No. 20, July 1, 2024
(a)
General
				  provisions.
In taxable years beginning after December 31, 2022, an
				  income tax credit is allowed to resident individual taxpayers for nonrecurring
				  adoption expenses, not to exceed $2,000 ($4,000 for a married filing joint
				  return) per calendar year, paid in connection with the adoption of a minor, or
				  proposed adoption of a minor which did not result in a decreed
				  adoption.
(b)
Allowable
				  expenses.
For purposes of this Section "nonrecurring adoption expenses"
				  means and includes:
(1) Adoption
				  fees;
(2) Court costs;
(3) Medical expenses;
(4) Attorney fees;
(5) Expenses directly related to the legal
				  process of the adoption of a child and are not reimbursed by other sources, to
				  include, but not limited to costs related to:
(A) The adoption study;
(B) Health and psychological
				  examinations;
(C) Transportation
				  and reasonable costs of food and lodging for the child or adoptive parents
				  which are incurred to complete the adoption process. Transportation expense by
				  either commercial or private means may be claimed based upon actual
				  unreimbursed costs incurred, or in the case of travel by private means, the
				  mileage rate allowed pursuant to the Internal Revenue Code for determining
				  business travel expense may be elected.
(6) Costs associated with physical
				  remodeling, renovation, or alteration of the adoptive parents' home or
				  property, if incurred in conjunction with the adoption of a special needs
				  child, as authorized by the court.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 17 - Oklahoma Taxable Income for Corporations › Part 1 - GENERAL PROVISIONS › Section 710:50-17-1 - Corporate returns

Current through Vol. 41, No. 20, July 1, 2024
(a) Any corporation
				  doing business within or deriving income from sources within Oklahoma is
				  required to file an Oklahoma Corporation Income Tax Return, whether or not a
				  tax is due. All Oklahoma corporate income tax returns, beginning with tax year
				  2020 returns, must be filed electronically in the format prescribed by the
				  Commission.
(b) Any corporation is
				  subject to Oklahoma income taxes if it has "nexus" with Oklahoma. The purpose
				  of this Subchapter is to provide guidelines for determining what constitutes
				  "nexus", that is, what business activities are needed for any corporation to be
				  subject to Oklahoma income taxes.
Oklahoma Administrative Code › Title 710 - Oklahoma Tax Commission › Chapter 50 - Income › Subchapter 17 - Oklahoma Taxable Income for Corporations › Part 1 - GENERAL PROVISIONS › Section 710:50-17-2 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
The following words or terms, when used in this Subchapter,
					 shall have the following meaning, unless the context clearly indicates
					 otherwise:
"Business location"
means a location which
					 includes, but is not limited to: a repair shop, parts department, purchasing
					 office, employment office, warehouse, meeting place for directors, sales
					 office, permanent sample or display room, research facility or a recreational
					 facility for use of employees or customers. A residence of an employee or
					 representative is not ordinarily considered a "business location" of the
					 employer unless the facts indicate otherwise. It could be considered a business
					 location under one or more of the following conditions:
(A) a portion of the residence is used exclusively for the
					 business of the employer;
(B) the employee's phone is listed in the business pages of
					 a telephone directory under the name of the employer;
(C) the employee used supplies, equipment or samples
					 furnished by the employer; or,
(D) the space is used by the employee to interview
					 prospective employees, hold sales meetings, or discuss business with customers.
"Representative"
does not include an
					 independent contractor. A person may be considered a representative even though
					 he or she may not be considered an employee for other purposes such as the
					 withholding of income tax from commissions. If a person is subject to the
					 direct control of the corporation, he or she may not qualify as an independent
					 contractor under Public Law 86-272.
Herff Jones Company vs. State Tax
					 Commission,
Oregon Supreme Court, 430 P.2d 998 (Ore. 1967).
"Solicitation"
must be limited to the acts
					 which lead to the placing of an order. The term does not include those acts
					 which follow as a natural result of the placing of an order.