{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-2357.45","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-2357.45","heading":"Donation to independent biomedical or cancer research","body":"institute - Tax credit.\n\nA. 1. For tax years beginning after December 31, 2004, there\n\nshall be allowed against the tax imposed by Section 2355 of this\n\ntitle, a credit for any taxpayer who makes a donation to an\n\nindependent biomedical research institute and for tax years\n\nbeginning after December 31, 2010, a credit for any taxpayer who\n\nmakes a donation to a cancer research institute.\n\n2. The credit authorized by paragraph 1 of this subsection\n\nshall be limited as follows:\n\na. for tax years 2007 through 2025, the credit\n\npercentage, not to exceed fifty percent (50%), shall\n\nbe adjusted annually so that the total estimate of the\n\ncredits does not exceed Two Million Dollars\n\n($2,000,000.00) annually. The formula to be used for\n\nthe percentage adjusted shall be fifty percent (50%)\n\ntimes One Million Dollars ($1,000,000.00) divided by\n\nthe credits claimed in the preceding year for each\n\ndonation to an independent biomedical research\n\ninstitute and fifty percent (50%) times One Million\n\nDollars ($1,000,000.00) divided by the credits claimed\n\nin the preceding year for each donation to a cancer\n\nresearch institute,\n\nb. for tax year 2026 and subsequent tax years, the credit\n\npercentage, not to exceed fifty percent (50%), shall\n\nbe adjusted annually so that the total estimate of the\n\ncredits does not exceed One Million Five Hundred\n\nThousand Dollars ($1,500,000.00) annually for\n\ndonations to independent biomedical research\n\ninstitutes. The formula to be used for the percentage\n\nadjustment shall be fifty percent (50%) times One\n\nMillion Five Hundred Thousand Dollars ($1,500,000.00)\n\ndivided by the credits claimed in the second preceding\n\ntax year for each donation to an independent\n\nbiomedical research institute,\n\nc. for tax year 2026 and subsequent tax years, the credit\n\npercentage, not to exceed fifty percent (50%), shall\n\nbe adjusted annually so that the total estimate of the\n\ncredits does not exceed Five Hundred Thousand Dollars\n\n($500,000.00) annually for donations to cancer\n\nresearch institutes. The formula to be used for the\n\npercentage adjusted shall be fifty percent (50%) times\n\nFive Hundred Thousand Dollars ($500,000.00) divided by\n\nthe credits claimed in the second preceding year for\n\neach donation to a cancer research institute,\n\nd. (1) in no event shall a taxpayer claim more than one\n\ncredit for a donation to any independent\n\nbiomedical research institute and one credit for\n\na donation to a cancer research institute in each\n\ntaxable year nor for tax years 2005 through 2025\n\nshall the credit exceed One Thousand Dollars\n\n($1,000.00) for each taxpayer, and for tax year\n\n2026 and subsequent tax years, the credit for\n\ndonating to a cancer research institute shall not\n\nexceed One Thousand Dollars ($1,000.00) for\n\nsingle filers and married filing separate, or Two\n\nThousand Dollars ($2,000.00) for married filing\n\njoint, head of household, or qualifying widow, or\nhrough 2025\n\nshall the credit exceed One Thousand Dollars\n\n($1,000.00) for each taxpayer, and for tax year\n\n2026 and subsequent tax years, the credit for\n\ndonating to a cancer research institute shall not\n\nexceed One Thousand Dollars ($1,000.00) for\n\nsingle filers and married filing separate, or Two\n\nThousand Dollars ($2,000.00) for married filing\n\njoint, head of household, or qualifying widow, or\n\n(2) for tax year 2026 and subsequent tax years, the\n\ncredit for donations to any independent\n\nbiomedical research institute shall not exceed\n\nOne Thousand Dollars ($1,000.00) for single\n\nfilers and married filing separate; Two Thousand\n\nDollars ($2,000.00) for married filing joint,\n\nhead of household, and qualifying widow; and\n\nTwenty-five Thousand Dollars ($25,000.00) for any\n\ntaxpayer that is a business entity formed under\n\nthe laws of any state, including limited and\n\ngeneral partnerships, corporations, and limited\n\nliability companies, and\n\ne. for tax year 2026 and subsequent tax years, in the\n\nevent the total tax credits authorized by this section\n\nexceed Five Hundred Thousand Dollars ($500,000.00) for\n\na cancer research institute or One Million Five\n\nHundred Thousand Dollars ($1,500,000.00) for an\n\nindependent biomedical research institute, the\n\nOklahoma Tax Commission shall permit any excess over\n\nthe applicable limitation amount but shall factor such\n\nexcess into the percentage adjustment formula for\n\nsubsequent years for the applicable type of donation.\n\nHowever, any such adjustment to the formula for\n\ndonations to an independent biomedical research\n\ninstitute shall not affect the formula for donations\n\nto a cancer research institute, and any such\n\nadjustment to the formula for donations to a cancer\n\nresearch institute shall not affect the formula for\n\ndonations to an independent biomedical research\n\ninstitute.\n\n3. For purposes of this section, “independent biomedical\n\nresearch institute” means an organization in this state which is\n\nexempt from taxation pursuant to the provisions of Section 501(c)(3)\n\nof the Internal Revenue Code of 1986, as amended, 26 U.S.C., Section\n\n501(c)(3), whose primary focus is conducting peer-reviewed basic\n\nbiomedical research. The organization shall:\n\na. have a board of directors,\n\nb. be able to accept grants in its own name,\n\nc. be an identifiable institute that has its own\n\nemployees and administrative staff, and\n\nd. receive at least Twenty Million Dollars\n\n($20,000,000.00) in National Institutes of Health\n\nfunding each year.\n\n4. For purposes of this section, “cancer research institute”\n\nmeans an organization which is exempt from taxation pursuant to the\n\nInternal Revenue Code of 1986, as amended, and whose primary focus\n\nis raising the standard of cancer clinical care in Oklahoma through\n\npeer-reviewed cancer research and education or a not-for-profit\n\nsupporting organization, as that term is defined by the Internal\n\nRevenue Code of 1986, as amended, affiliated with a tax-exempt\n\norganization whose primary focus is raising the standard of cancer\n\nclinical care in Oklahoma through peer-reviewed cancer research and\n\neducation. The tax-exempt organization whose primary focus is\n\nraising the standard of cancer clinical care in Oklahoma through\n\npeer-reviewed cancer research and education shall:\n\na. either be an independent research institute or a\n\nprogram that is part of a state university which is a\n\nmember of The Oklahoma State System of Higher\n\nEducation, and\n\nb. receive at least Four Million Dollars ($4,000,000.00)\n\nin National Cancer Institute funding each year.\n\nB. In no event shall the amount of the credit exceed the amount\n\nof any tax liability of the taxpayer.\n\nC. Any credits allowed but not used in any tax year may be\n\ncarried over, in order, to each of the four (4) years following the\n\nyear of qualification.\nate System of Higher\n\nEducation, and\n\nb. receive at least Four Million Dollars ($4,000,000.00)\n\nin National Cancer Institute funding each year.\n\nB. In no event shall the amount of the credit exceed the amount\n\nof any tax liability of the taxpayer.\n\nC. Any credits allowed but not used in any tax year may be\n\ncarried over, in order, to each of the four (4) years following the\n\nyear of qualification.\n\nD. The Oklahoma Tax Commission shall have the authority to\n\nprescribe forms for purposes of claiming the credit authorized by\n\nthis section.","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":"af81957673a68c5f406088a6bc3c181bcaf160ed90d9cb0c47899b43ff6e2976","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-2357.43","next":"us-ok/okla.-stat.-tit.-68-68-2357.46"},"notice":"GroundRules: Original legal text. Not legal advice."}