{"data":{"id":"us-ok/okla.-stat.-tit.-27a-27a-2-11-305","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 27A, § 27A-2-11-305","heading":"Certification of net investment expense - Allowance","body":"of tax credit.\n\nA. Upon a determination of all such facts posed by the\n\napplicant's recycling, reuse, or source reduction process in this\n\nstate, the Department of Environmental Quality shall certify to the\n\nOklahoma Tax Commission the actual or estimated agreed net\n\ninvestment expense of installing such process and shall submit all\n\nsuch relevant information for use by the Tax Commission in allowing\n\nsuch tax credit and in auditing income tax returns subsequently\n\nfiled by the applicant.\n\nB. If an estimated agreed net investment expense is certified\n\nto the Tax Commission, the Tax Commission shall subsequently adjust\n\nsuch estimate to the actual cost outlay by the applicant for the\n\nprocess, not in excess of the certified estimate, at the time the\n\ntax credit is taken. The income tax return specifying the cost\n\noutlay for the process submitted by the applicant may be accepted\n\nby the Tax Commission as the actual net investment cost of the\n\nprocess unless the Tax Commission determines that an audit of the\n\nincome tax return or income tax liability of the applicant is\n\nwarranted. In conducting an audit, the Tax Commission is authorized\n\nto request such records and documentation as they determine to be\n\nnecessary to verify the accuracy of the return. The person, firm,\n\ncorporation or other legal entity taking such tax credit shall be\n\nrequired to submit to the Tax Commission evidence of the actual\n\ncapital outlay for the installation of such process at the time such\n\ncredit is to be taken for income tax purposes or when otherwise\n\nrequested by the Tax Commission.\n\nC. The Commission shall allow the tax credit to be taken as and\n\nto the extent provided herein.","path":["OK Code","Title 27A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os27A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"17a0d633c466d6eca55e8e1f7861943a442f6e6ae4e3c7231fe56d8c33fe4981","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-27a-27a-2-11-304","next":"us-ok/okla.-stat.-tit.-27a-27a-2-11-306"},"notice":"GroundRules: Original legal text. Not legal advice."}