Okla. Stat. tit. 68, § 68-2357.303: Credit for compensation paid to employees

A. Except as provided in subsection F of this section, for tax

years 2009 through 2031, a qualified employer shall be allowed a

credit against the tax imposed pursuant to Section 2355 of this

title for compensation paid to a qualified employee.

B. The credit authorized by subsection A of this section shall

be in the amount of:

1. Ten percent (10%) of the compensation paid for the first

through fifth years of employment in the aerospace sector if the

qualified employee graduated from an institution located in this

state; or

2. Five percent (5%) of the compensation paid for the first

through fifth years of employment in the aerospace sector if the

qualified employee graduated from an institution located outside

this state.

C. The credit authorized by this section shall not exceed

Twelve Thousand Five Hundred Dollars ($12,500.00) for each qualified

employee annually.

D. The credit authorized by this section shall not be used to

reduce the tax liability of the qualified employer to less than zero

(0).

E. No credit authorized pursuant to this section shall be

claimed after the fifth year of employment.

F. No credit otherwise authorized by the provisions of this

section may be claimed for any event, transaction, investment,

expenditure or other act occurring on or after July 1, 2010, for

which the credit would otherwise be allowable. The provisions of

this subsection shall cease to be operative on July 1, 2011.

Beginning July 1, 2011, the credit authorized by this section may be

claimed for any event, transaction, investment, expenditure or other

act occurring on or after July 1, 2011, according to the provisions

of this section.