{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-2357.201","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-2357.201","heading":"Definitions - Amount of credit","body":"A. As used in this act:\n\n1. “Qualified business enterprise” means an entity or\n\naffiliated group of entities electing to file a consolidated\n\nOklahoma income tax return:\n\na. organized as a corporation, partnership, limited\n\nliability company or other entity having limited\n\nliability pursuant to the laws of the State of Oklahoma\n\nor the laws of another state, if such entity is\n\nregistered to do business within the state, a general\n\npartnership, limited liability partnership, limited\n\nliability limited partnership or other legal entity\n\nhaving the right to conduct lawful business within the\n\nstate,\n\nb. whose principal business activities are described by\n\nthe North American Industry Classification System by\n\nIndustry No. 514210, or Industry No. 541512 or Industry\n\nNo. 541519 as reflected in the 1997 edition of such\n\npublication,\n\nc. that makes at least seventy-five percent (75%) of its\n\nsales to out-of-state customers or buyers which shall\n\nbe determined in the same manner as provided for\n\npurposes of the Oklahoma Quality Jobs Program Act,\n\nd. that is a high-speed processing facility in Oklahoma\n\nutilizing systems such as TPF, zTPF or other advanced\n\ntechnical systems,\n\ne. that, as of July 1, 2005, maintains an Oklahoma annual\n\npayroll of at least Eighty-five Million Dollars\n\n($85,000,000.00), and\n\nf. that, as of July 1, 2005, maintains an Oklahoma labor\n\nforce of one thousand (1,000) or more persons;\n\n2. “Qualified capital expenditures” means those costs incurred\n\nby the qualified business enterprise for acquisition of personal\n\nproperty to be used in business operations within the state that\n\nqualifies for depreciation and/or amortization pursuant to the\n\nInternal Revenue Code of 1986, as amended, during the taxable year\n\nfor which the credit authorized by this section is claimed, or costs\n\nincurred to refurbish, repair or maintain any existing personal\n\nproperty located within the state;\n\n3. “Qualified wages” means compensation, including any\n\nemployer-paid health care benefits, to full-time or part-time\n\nemployees of the qualified business enterprise if such employees are\n\nfull-time residents of the state; and\n\n4. “Qualified training expenses” means those costs, whether or\n\nnot deductible as a business expense pursuant to the Internal\n\nRevenue Code of 1986, as amended, incurred to locate, interview,\n\nhire and educate an employee of the enterprise who has not\n\npreviously been employed by the enterprise and who is a resident of\n\nthe state.\n\nB. For taxable years beginning after December 31, 2005, and\n\nending not later than December 31, 2013, there shall be allowed as a\n\ncredit against the tax imposed by Section 2355 of this title,\n\nsubject to the limitations imposed by subsection C of this section,\n\nan amount equal to fifteen percent (15%) of:\n\n1. Qualified capital expenditures; or\n\n2. Qualified wages; or\n\n3. Qualified training expenses; or\n\n4. The sum of any of the expenses identified in paragraphs 1\n\nthrough 3 of this subsection, in any combination.\n\nC. For purposes of computing the credit amount prescribed by\n\nsubsection B of this section, the expenses described by paragraphs\n\n1, 2 and 3 of subsection B of this section may be added together or\n\nconsidered independently, but the total credit amount shall not\n\nexceed Three Hundred Fifty Thousand Dollars ($350,000.00) each year\n\nfor the fiscal year ending June 30, 2007, the fiscal year ending\n\nJune 30, 2008, the fiscal year ending June 30, 2009, and for all\n\nsubsequent fiscal years.\n\nD. For purposes of the expenditures described by subsection B\n\nof this section a qualified business enterprise may incur\n\nexpenditures beginning January 1, 2005, through December 31, 2013,\n\nfor purposes of computing the credit amount. The claim for such\n\ncredits earned for the fiscal year ending June 30, 2007, shall not\n, the fiscal year ending June 30, 2009, and for all\n\nsubsequent fiscal years.\n\nD. For purposes of the expenditures described by subsection B\n\nof this section a qualified business enterprise may incur\n\nexpenditures beginning January 1, 2005, through December 31, 2013,\n\nfor purposes of computing the credit amount. The claim for such\n\ncredits earned for the fiscal year ending June 30, 2007, shall not\n\nbe filed earlier than July 1, 2006, and the claims for each\n\nsubsequent taxable year may be filed no earlier than July 1 of each\n\nof the applicable succeeding years.\n\nE. For purposes of the limitation on the credit amount that may\n\nbe claimed by a qualified business enterprise, an extension of time\n\nfor filing of an income tax return shall not extend the time period\n\nfor purposes of claiming the credit authorized by this section.\n\nF. If the amount of the credit allowable is in excess of the\n\ntax liability, the amount of the credit not used shall be refunded\n\nto the taxpayer subject to the total limit of Three Hundred Fifty\n\nThousand Dollars ($350,000.00) each year for the fiscal year ending\n\nJune 30, 2007, the fiscal year ending June 30, 2008, the fiscal year\n\nending June 30, 2009, and each of the applicable subsequent fiscal\n\nyears.\n\nG. No credit for any fiscal year as otherwise authorized by\n\nthis section shall be based upon any qualified expenditure used to\n\ncompute a credit amount for any preceding taxable year.\n\nH. The credit authorized by the provisions of this section\n\nshall not be transferable.\n\nI. The Tax Commission may prescribe forms for purposes of\n\nclaiming the credit authorized by this section and for verifying\n\neligibility for the credit.","path":["OK Code","Title 68"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os68.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"3d990c9fad81f6e39a9f91c890b330ee9191e482ddad68415e9f2bfef6869fbd","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-2357.20","next":"us-ok/okla.-stat.-tit.-68-68-2357.202"},"notice":"GroundRules: Original legal text. Not legal advice."}