{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-2902v1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-2902v1","heading":"Manufacturing facilities – Exemption from ad valorem","body":"tax.\n\nA. Except as otherwise provided by subsection H of Section 3658\n\nof this title pursuant to which the exemption authorized by this\n\nsection may not be claimed, a qualifying manufacturing concern, as\n\ndefined by Section 6B of Article X of the Oklahoma Constitution, and\n\nas further defined herein, shall be exempt from the levy of any ad\n\nvalorem taxes upon new, expanded or acquired manufacturing\n\nfacilities including facilities engaged in research and development,\n\nfor a period of five (5) years. The provisions of Section 6B of\n\nArticle X of the Oklahoma Constitution requiring an existing\n\nfacility to have been unoccupied for a period of twelve (12) months\n\nprior to acquisition shall be construed as a qualification for a\n\nfacility to initially receive an exemption, and shall not be deemed\n\nto be a qualification for that facility to continue to receive an\n\nexemption in each of the four (4) years following the initial year\n\nfor which the exemption was granted. Such facilities are hereby\n\nclassified for the purposes of taxation as provided in Section 22 of\n\nArticle X of the Oklahoma Constitution.\n\nB. For purposes of this section, the following definitions\n\nshall apply:\n\n1. “Manufacturing facilities” means facilities engaged in the\n\nmechanical or chemical transformation of materials or substances\n\ninto new products and except as provided by paragraph 6 of\n\nsubsection C of this section shall include:\n\na. establishments which have received a manufacturer\n\nexemption permit pursuant to the provisions of Section\n\n1359.2 of this title,\n\nb. facilities including repair and replacement parts,\n\nprimarily engaged in aircraft repair, building and\n\nrebuilding whether or not on a factory basis,\n\nc. establishments primarily engaged in computer services\n\nand data processing as defined under Industrial Group\n\nNumbers 5112 and 5415, and U.S. Industry Number 334611\n\nand 519130 of the NAICS Manual, latest revision, and\n\nwhich derive at least fifty percent (50%) of their\n\nannual gross revenues from the sale of a product or\n\nservice to an out-of-state buyer or consumer, and as\n\ndefined under Industrial Group Number 5182 of the\n\nNAICS Manual, latest revision, which derive at least\n\neighty percent (80%) of their annual gross revenues\n\nfrom the sale of a product or service to an out-of-\n\nstate buyer or consumer. Eligibility as a\n\nmanufacturing facility pursuant to this subparagraph\n\nshall be established, subject to review by the\n\nOklahoma Tax Commission, by annually filing an\n\naffidavit with the Tax Commission stating that the\n\nfacility so qualifies and such other information as\n\nrequired by the Tax Commission. For purposes of\n\ndetermining whether annual gross revenues are derived\n\nfrom sales to out-of-state buyers, all sales to the\n\nfederal government shall be considered to be an out-\n\nof-state buyer,\n\nd. facilities that the investment cost of the\n\nconstruction, acquisition or expansion is Five Hundred\n\nThousand Dollars ($500,000.00) or more with respect to\n\nassets placed into service during calendar year 2022.\n\nFor subsequent calendar years, the investment required\n\nshall be increased annually by a percentage equal to\n\nthe previous year’s increase in the Consumer Price\n\nIndex-All Urban Consumers (“CPI-U”) and such adjusted\n\namount shall be the required investment cost in order\n\nto qualify for the exemption authorized by this\n\nsection. The Oklahoma Department of Commerce shall\n\ndetermine the amount of the increase, if any, on\n\nJanuary 1 of each year. The Oklahoma Tax Commission\n\nshall publish on its website at least annually the\n\nadjusted dollar amount in order to qualify for the\n\nexemption authorized by this section and shall include\n\nthe adjusted dollar amount in any of its relevant\n\nforms or publications with respect to the exemption.\n\nProvided, “investment cost” shall not include the cost\nf the increase, if any, on\n\nJanuary 1 of each year. The Oklahoma Tax Commission\n\nshall publish on its website at least annually the\n\nadjusted dollar amount in order to qualify for the\n\nexemption authorized by this section and shall include\n\nthe adjusted dollar amount in any of its relevant\n\nforms or publications with respect to the exemption.\n\nProvided, “investment cost” shall not include the cost\n\nof direct replacement, refurbishment, repair or\n\nmaintenance of existing machinery or equipment, except\n\nthat investment cost shall include capital\n\nexpenditures for direct replacement, refurbishment,\n\nrepair or maintenance of existing machinery or\n\nequipment that qualifies for depreciation and/or\n\namortization pursuant to the Internal Revenue Code of\n\n1986, as amended, and such expenditures shall be\n\neligible as a part of an expansion that otherwise\n\nqualifies under this section,\n\ne. establishments primarily engaged in distribution as\n\ndefined under Industry Numbers 49311, 49312, 49313 and\n\n49319 and Industry Sector Number 42 of the NAICS\n\nManual, latest revision, and which meet the following\n\nqualifications:\n\n(1) construction with an initial capital investment\n\nof at least Five Million Dollars ($5,000,000.00),\n\n(2) employment of at least one hundred (100) full-\n\ntime-equivalent employees, as certified by the\n\nOklahoma Employment Security Commission,\n\n(3) payment of wages or salaries to its employees at\n\na wage which equals or exceeds the average wage\n\nrequirements in the Oklahoma Quality Jobs Program\n\nAct for the year in which the real property was\n\nplaced into service, and\n\n(4) commencement of construction on or after November\n\n1, 2007, with construction to be completed within\n\nthree (3) years from the date of the commencement\n\nof construction,\n\nf. facilities engaged in the manufacturing, compounding,\n\nprocessing or fabrication of materials into articles\n\nof tangible personal property according to the special\n\norder of a customer (custom order manufacturing) by\n\nmanufacturers classified as operating in North\n\nAmerican Industry Classification System (NAICS)\n\nSectors 32 and 33, but does not include such custom\n\norder manufacturing by manufacturers classified in\n\nother NAICS code sectors, and\n\ng. with respect to any entity making an application for\n\nthe exemption authorized by this section on or after\n\nJanuary 1, 2023, the establishment making application\n\nfor exempt treatment of real or personal property\n\nacquired or improved beginning January 1, 2022, and\n\nfor any calendar year thereafter, the entity shall be\n\nrequired to pay new direct jobs, as defined by Section\n\n3603 of this title for purposes of the Oklahoma\n\nQuality Jobs Program Act, an average annualized wage\n\nwhich equals or exceeds the average wage requirement\n\nin the Oklahoma Quality Jobs Program Act for the year\n\nin which the real or personal property was placed into\n\nservice. The Oklahoma Tax Commission may request\n\nverification from the Oklahoma Department of Commerce\n\nthat an establishment seeking an exemption for real or\n\npersonal property pays an average annualized wage that\n\nequals or exceeds the average wage requirement in\n\neffect for the year in which the real or personal\n\nproperty was placed into service. For purposes of\n\nthis subparagraph, it shall not be necessary for the\n\nestablishment to qualify for incentive payments\n\npursuant to the Oklahoma Quality Jobs Program Act, but\n\nthe establishment shall be subject to the wage\n\nrequirements of the Oklahoma Quality Jobs Program Act\n\nwith respect to new direct jobs in order to qualify\n\nfor the exempt treatment authorized by this section.\n\nEligibility as a manufacturing facility pursuant to this\n\nsubparagraph shall be established, subject to review by the Tax\n\nCommission, by annually filing an affidavit with the Tax Commission\n\nstating that the facility so qualifies and containing such other\n\ninformation as required by the Tax Commission.\nt to new direct jobs in order to qualify\n\nfor the exempt treatment authorized by this section.\n\nEligibility as a manufacturing facility pursuant to this\n\nsubparagraph shall be established, subject to review by the Tax\n\nCommission, by annually filing an affidavit with the Tax Commission\n\nstating that the facility so qualifies and containing such other\n\ninformation as required by the Tax Commission.\n\nProvided, eating and drinking places, as well as other retail\n\nestablishments, shall not qualify as manufacturing facilities for\n\npurposes of this section, nor shall centrally assessed properties.\n\nEligibility as a manufacturing facility pursuant to this\n\nsubparagraph shall be established, subject to review by the Tax\n\nCommission, by annually filing an application with the Tax\n\nCommission stating that the facility so qualifies and containing\n\nsuch other information as required by the Tax Commission;\n\n2. “Facility” and “facilities”, except as otherwise provided by\n\nthis section, means and includes the land, buildings, structures and\n\nimprovements used directly and exclusively in the manufacturing\n\nprocess. Effective January 1, 2022, and for each calendar year\n\nthereafter, for establishments which have received a manufacturer\n\nexemption permit pursuant to the provisions of Section 1359.2 of\n\nthis title, or facilities engaged in manufacturing activities\n\ndefined or classified in the NAICS Manual under Industry Nos. 311111\n\nthrough 339999, inclusive, but for no other establishments, facility\n\nand facilities means and includes the land, buildings, structures,\n\nimprovements, machinery, fixtures, equipment and other personal\n\nproperty used directly and exclusively in the manufacturing process;\n\nand\n\n3. “Research and development” means activities directly related\n\nto and conducted for the purpose of discovering, enhancing,\n\nincreasing or improving future or existing products or processes or\n\nproductivity.\n\nC. The following provisions shall apply:\n\n1. A manufacturing concern shall be entitled to the exemption\n\nherein provided for each new manufacturing facility constructed,\n\neach existing manufacturing facility acquired and the expansion of\n\nexisting manufacturing facilities on the same site, as such terms\n\nare defined by Section 6B of Article X of the Oklahoma Constitution\n\nand by this section;\n\n2. No manufacturing concern shall receive more than one five-\n\nyear exemption for any one manufacturing facility unless the\n\nexpansion which qualifies the manufacturing facility for an\n\nadditional five-year exemption meets the requirements of paragraph 4\n\nof this subsection and the employment level established for any\n\nprevious exemption is maintained;\n\n3. Any exemption as to the expansion of an existing\n\nmanufacturing facility shall be limited to the increase in ad\n\nvalorem taxes directly attributable to the expansion;\n\n4. All initial applications for any exemption for a new,\n\nacquired or expanded manufacturing facility shall be granted only\n\nif:\n\na. there is a net increase in annualized base payroll\n\nover the initial payroll of at least Two Hundred Fifty\n\nThousand Dollars ($250,000.00) if the facility is\n\nlocated in a county with a population of fewer than\n\nseventy-five thousand (75,000), according to the most\n\nrecent Federal Decennial Census, while maintaining or\n\nincreasing base payroll in subsequent years, or at\n\nleast One Million Dollars ($1,000,000.00) if the\n\nfacility is located in a county with a population of\n\nseventy-five thousand (75,000) or more, according to\n\nthe most recent Federal Decennial Census, while\n\nmaintaining or increasing base payroll in subsequent\n\nyears; provided, the payroll requirement of this\n\nsubparagraph shall be waived for claims for exemptions\n\nincluding claims previously denied or on appeal on\n\nMarch 3, 2010, for all initial applications for\n\n5,000) or more, according to\n\nthe most recent Federal Decennial Census, while\n\nmaintaining or increasing base payroll in subsequent\n\nyears; provided, the payroll requirement of this\n\nsubparagraph shall be waived for claims for exemptions\n\nincluding claims previously denied or on appeal on\n\nMarch 3, 2010, for all initial applications for\n\nexemption filed on or after January 1, 2004, and on or\n\nbefore March 31, 2009, and all subsequent annual\n\nexemption applications filed related to the initial\n\napplication for exemption, for an applicant, if the\n\nfacility has been located in Oklahoma for at least\n\nfifteen (15) years engaged in marine engine\n\nmanufacturing as defined under U.S. Industry Number\n\n333618 of the NAICS Manual, latest revision, and has\n\nmaintained an average employment of five hundred (500)\n\nor more full-time-equivalent employees over a ten-year\n\nperiod. Any applicant that qualifies for the payroll\n\nrequirement waiver as outlined in the previous\n\nsentence and subsequently closes its Oklahoma\n\nmanufacturing plant prior to January 1, 2012, may be\n\ndisqualified for exemption and subject to recapture.\n\nFor an applicant engaged in paperboard manufacturing\n\nas defined under U.S. Industry Number 322130 of the\n\nNAICS Manual, latest revision, union master payouts\n\npaid by the buyer of the facility to specified\n\nindividuals employed by the facility at the time of\n\npurchase, as specified under the purchase agreement,\n\nshall be excluded from payroll for purposes of this\n\nsection.\n\nIn order to provide certainty with respect to\n\ninvestments in manufacturing facilities pertaining to\n\nall initial applications for exemption filed on or\n\nafter January 1, 2016, the following definitions shall\n\napply:\n\n(1) “base payroll” shall mean total payroll adjusted\n\nfor any nonrecurring bonuses, exercise of stock\n\noption or stock rights and other nonrecurring,\n\nextraordinary items included in total payroll,\n\nand\n\n(2) “initial payroll” shall mean base payroll for the\n\nyear immediately preceding the initial\n\nconstruction, acquisition or expansion.\n\nThe Tax Commission shall verify payroll\n\ninformation through the Oklahoma Employment\n\nSecurity Commission by using reports from the\n\nOklahoma Employment Security Commission for the\n\ncalendar year immediately preceding the year for\n\nwhich initial application is made for base-line\n\npayroll, which must be maintained or increased\n\nfor each subsequent year; provided, a\n\nmanufacturing facility shall have the option of\n\nexcluding from its payroll, for purposes of this\n\nsection:\n\ni. payments to sole proprietors, members\n\nof a partnership, members of a limited\n\nliability company who own at least ten\n\npercent (10%) of the capital of the\n\nlimited liability company or\n\nstockholder-employees of a corporation\n\nwho own at least ten percent (10%) of\n\nthe stock in the corporation, and\n\nii. any nonrecurring bonuses, exercise of\n\nstock option or stock rights or other\n\nnonrecurring, extraordinary items\n\nincluded in total payroll numbers as\n\nreported by the Oklahoma Employment\n\nSecurity Commission. A manufacturing\n\nfacility electing either option shall\n\nindicate such election upon its\n\napplication for an exemption under this\n\nsection. Any manufacturing facility\n\nelecting either option shall submit\n\nsuch information as the Tax Commission\n\nmay require in order to verify payroll\n\ninformation. Payroll information\n\nsubmitted pursuant to the provisions of\n\nthis paragraph shall be submitted to\n\nthe Tax Commission and shall be subject\n\nto the provisions of Section 205 of\n\nthis title, and\n\nb. the facility offers, or will offer within one hundred\n\neighty (180) days of the date of employment, a basic\n\nhealth benefits plan to the full-time-equivalent\n\nemployees of the facility, which is determined by the\n\nOklahoma Department of Commerce to consist of the\n\nelements specified in subparagraph b of paragraph 1 of\nn and shall be subject\n\nto the provisions of Section 205 of\n\nthis title, and\n\nb. the facility offers, or will offer within one hundred\n\neighty (180) days of the date of employment, a basic\n\nhealth benefits plan to the full-time-equivalent\n\nemployees of the facility, which is determined by the\n\nOklahoma Department of Commerce to consist of the\n\nelements specified in subparagraph b of paragraph 1 of\n\nsubsection A of Section 3603 of this title or elements\n\nsubstantially equivalent thereto.\n\nFor purposes of this section, calculation of the amount of\n\nincreased base payroll shall be measured from the start of initial\n\nconstruction or expansion to the completion of such construction or\n\nexpansion or for three (3) years from the start of initial\n\nconstruction or expansion, whichever occurs first. The amount of\n\nincreased base payroll shall include payroll for full-time-\n\nequivalent employees in this state who are employed by an entity\n\nother than the facility which has previously or is currently\n\nqualified to receive an exemption pursuant to the provisions of this\n\nsection and who are leased or otherwise provided to the facility, if\n\nsuch employment did not exist in this state prior to the start of\n\ninitial construction or expansion of the facility. The\n\nmanufacturing concern shall submit an affidavit to the Tax\n\nCommission, signed by an officer, stating that the construction,\n\nacquisition or expansion of the facility will result in a net\n\nincrease in the annualized base payroll as required by this\n\nparagraph and that full-time-equivalent employees of the facility\n\nare or will be offered a basic health benefits plan as required by\n\nthis paragraph. If, after the completion of such construction or\n\nexpansion or after three (3) years from the start of initial\n\nconstruction or expansion, whichever occurs first, the construction,\n\nacquisition or expansion has not resulted in a net increase in the\n\namount of annualized base payroll, if required, or any other\n\nqualification specified in this paragraph has not been met, the\n\nmanufacturing concern shall pay an amount equal to the amount of any\n\nexemption granted including penalties and interest thereon, to the\n\nTax Commission for deposit to the Ad Valorem Reimbursement Fund;\n\n5. Except as otherwise provided by this paragraph, any new,\n\nacquired or expanded computer data processing, data preparation or\n\ninformation processing services provider classified in U.S. Industry\n\nNumber 518210 of the North American Industrial Classification System\n\n(NAICS) Manual, 2017 revision, may apply for exemptions under this\n\nsection for each year in which new, acquired, or expanded capital\n\nimprovements to the facility are made for assets placed in service\n\nnot later than December 31, 2021, if:\n\na. there is a net increase in annualized payroll of the\n\napplicant at any facility or facilities of the\n\napplicant in this state of at least Two Hundred Fifty\n\nThousand Dollars ($250,000.00), which is attributable\n\nto the capital improvements, or a net increase of\n\nSeven Million Dollars ($7,000,000.00) or more in\n\ncapital improvements, while maintaining or increasing\n\npayroll at the facility or facilities in this state\n\nwhich are included in the application, and\n\nb. the facility offers, or will offer within one hundred\n\neighty (180) days of the date of employment of new\n\nemployees attributable to the capital improvements, a\n\nbasic health benefits plan to the full-time-equivalent\n\nemployees of the facility, which is determined by the\n\nOklahoma Department of Commerce to consist of the\n\nelements specified in subparagraph b of paragraph 1 of\n\nsubsection A of Section 3603 of this title or elements\n\nsubstantially equivalent thereto.\n\nAn establishment described by this paragraph, the primary\n\nbusiness activity of which is described by Industry No. 518210 of\n\nthe North American Industry Classification System (NAICS) Manual,\ned by the\n\nOklahoma Department of Commerce to consist of the\n\nelements specified in subparagraph b of paragraph 1 of\n\nsubsection A of Section 3603 of this title or elements\n\nsubstantially equivalent thereto.\n\nAn establishment described by this paragraph, the primary\n\nbusiness activity of which is described by Industry No. 518210 of\n\nthe North American Industry Classification System (NAICS) Manual,\n\n2017 revision, that has applied for and been granted an exemption\n\nfor personal property at any time within five (5) years prior to\n\nNovember 1, 2021, may apply for exemptions for items of eligible\n\npersonal property to be located within improvements to real property\n\nand such real property and improvements having been exempt from ad\n\nvalorem taxation prior to November 1, 2021, pursuant to the\n\nprovisions of this section if such personal property is placed in\n\nservice not later than December 31, 2036. No additional personal\n\nproperty of such establishment placed in service after such date\n\nshall qualify for the exempt treatment otherwise authorized pursuant\n\nto this paragraph;\n\n6. Effective January 1, 2017, an entity engaged in electric\n\npower generation by means of wind, as described by the North\n\nAmerican Industry Classification System, No. 221119, shall not be\n\ndefined as a qualifying manufacturing concern for purposes of the\n\nexemption otherwise authorized pursuant to Section 6B of Article X\n\nof the Oklahoma Constitution or qualify as a manufacturing facility\n\nas defined in this section. No initial application for exemption\n\nshall be filed by or accepted from an entity engaged in electric\n\npower generation by means of wind on or after January 1, 2018;\n\n7. An entity or applicant engaged in an industry as defined\n\nunder U.S. Industry Number 324110 of the NAICS Manual, latest\n\nrevision, which has applied for or been granted an exemption for a\n\ntime period which began on or after calendar year 2012 and before\n\ncalendar year 2016 but which did not meet the payroll requirements\n\nof subparagraph a of paragraph 4 of this subsection because of\n\nnonrecurring bonuses, exercise of stock option or stock rights or\n\nother nonrecurring, extraordinary items included in total payroll in\n\nthe previous year, shall be allowed an exemption, beginning with\n\ncalendar year 2016, for the number of years including the calendar\n\nyear for which the exemption was denied, remaining in the entity’s\n\nfive-year exemption period, provided such entity attains or\n\nincreases payroll at or above the initial or base payroll\n\nestablished for the exemption;\n\n8. A facility engaged in manufacturing defined under U.S.\n\nIndustry Number 327310 of the NAICS Manual shall have the payroll\n\nrequirements of paragraph 4 of this subsection waived for tax year\n\n2021, which is based in part on the 2020 calendar year payroll\n\nreported to the Oklahoma Employment Security Commission, and may\n\ncontinue to receive the exemption for the five-year period provided\n\nin this section only if all other requirements of this section are\n\nmet; and\n\n9. A facility engaged in manufacturing which otherwise\n\nqualifies for the exemption or exemptions pursuant to the provisions\n\nof this section shall have the payroll requirements of paragraph 4\n\nof this subsection waived for tax year 2021, which is based in part\n\non the 2020 calendar year payroll reported to the Oklahoma\n\nEmployment Security Commission, and for tax year 2022, which is\n\nbased in part on the 2021 calendar year payroll reported to the\n\nOklahoma Employment Security Commission, and may continue to receive\n\nthe exemption for the five-year period provided in this section only\n\nif all other requirements of this section are met.\n\nD. 1. Except as provided in paragraph 2 of this subsection,\n\nthe five-year period of exemption from ad valorem taxes for any\n\nqualifying manufacturing facility property shall begin on January 1\ny continue to receive\n\nthe exemption for the five-year period provided in this section only\n\nif all other requirements of this section are met.\n\nD. 1. Except as provided in paragraph 2 of this subsection,\n\nthe five-year period of exemption from ad valorem taxes for any\n\nqualifying manufacturing facility property shall begin on January 1\n\nfollowing the initial qualifying use of the property in the\n\nmanufacturing process.\n\n2. The five-year period of exemption from ad valorem taxes for\n\nany qualifying manufacturing facility, as specified in subparagraphs\n\na and b of this paragraph, which is located within a tax incentive\n\ndistrict created pursuant to the Local Development Act by a county\n\nhaving a population of at least five hundred thousand (500,000),\n\naccording to the most recent Federal Decennial Census, shall begin\n\non January 1 following the expiration or termination of the ad\n\nvalorem exemption, abatement, or other incentive provided through\n\nthe tax incentive district. Facilities qualifying pursuant to this\n\nsubsection shall include:\n\na. a manufacturing facility as defined in subparagraph c\n\nof paragraph 1 of subsection B of this section, and\n\nb. an establishment primarily engaged in distribution as\n\ndefined under Industry Number 49311 of the North\n\nAmerican Industry Classification System for which the\n\ninitial capital investment was at least One Hundred\n\nEighty Million Dollars ($180,000,000.00); provided,\n\nthat the qualifying job creation and depreciable\n\nproperty investment occurred prior to calendar year\n\n2017 but not earlier than calendar year 2013.\n\nE. Any person, firm or corporation claiming the exemption\n\nherein provided for shall file each year for which exemption is\n\nclaimed, an application therefor with the county assessor of the\n\ncounty in which the new, expanded or acquired facility is located.\n\nThe application shall be on a form or forms prescribed by the Tax\n\nCommission, and shall be filed on or before March 15, except as\n\nprovided in Section 2902.1 of this title, of each year in which the\n\nfacility desires to take the exemption or within thirty (30) days\n\nfrom and after receipt by such person, firm or corporation of notice\n\nof valuation increase, whichever is later. In a case where\n\ncompletion of the facility or facilities will occur after January 1\n\nof a given year, a facility may apply to claim the ad valorem tax\n\nexemption for that year. If such facility is found to be qualified\n\nfor exemption, the ad valorem tax exemption provided for herein\n\nshall be granted for that entire year and shall apply to the ad\n\nvalorem valuation as of January 1 of that given year. For\n\napplicants who qualify under the provisions of subparagraph b of\n\nparagraph 1 of subsection B of this section, the application shall\n\ninclude a copy of the affidavit and any other information required\n\nto be filed with the Tax Commission.\n\nF. The application shall be examined by the county assessor and\n\napproved or rejected in the same manner as provided by law for\n\napproval or rejection of claims for homestead exemptions. The\n\ntaxpayer shall have the same right of review by and appeal from the\n\ncounty board of equalization, in the same manner and subject to the\n\nsame requirements as provided by law for review and appeals\n\nconcerning homestead exemption claims. Approved applications shall\n\nbe filed by the county assessor with the Tax Commission no later\n\nthan June 15, except as provided in Section 2902.1 of this title, of\n\nthe year in which the facility desires to take the exemption.\n\nIncomplete applications and applications filed after June 15 will be\n\ndeclared null and void by the Tax Commission. In the event that a\n\ntaxpayer qualified to receive an exemption pursuant to the\n\nprovisions of this section shall make payment of ad valorem taxes in\n\nexcess of the amount due, the county treasurer shall have the\ntle, of\n\nthe year in which the facility desires to take the exemption.\n\nIncomplete applications and applications filed after June 15 will be\n\ndeclared null and void by the Tax Commission. In the event that a\n\ntaxpayer qualified to receive an exemption pursuant to the\n\nprovisions of this section shall make payment of ad valorem taxes in\n\nexcess of the amount due, the county treasurer shall have the\n\nauthority to credit the taxpayer’s real or personal property tax\n\noverpayment against current taxes due. The county treasurer may\n\nestablish a schedule of up to five (5) years of credit to resolve\n\nthe overpayment.\n\nG. Nothing herein shall in any manner affect, alter or impair\n\nany law relating to the assessment of property, and all property,\n\nreal or personal, which may be entitled to exemption hereunder shall\n\nbe valued and assessed as is other like property and as provided by\n\nlaw. The valuation and assessment of property for which an\n\nexemption is granted hereunder shall be performed by the Tax\n\nCommission using one or more of the cost, income and expense and\n\nsales comparison approaches to estimate fair cash value in\n\naccordance with the Uniform Standards of Professional Appraisal\n\nPractice.\n\nH. For each year that a new, expanded, or acquired\n\nmanufacturing facility receives an exemption pursuant to Section 6B\n\nof Article X of the Oklahoma Constitution, the entity shall provide\n\nto the Tax Commission a report detailing the number of new jobs\n\ncreated and the payroll data for new jobs created since the\n\nexemption was provided. The Tax Commission shall provide the data\n\ncollected pursuant to this subsection to the Incentive Evaluation\n\nCommission for only evaluation purposes by the Commission or a\n\ndesignee.\n\nI. The Tax Commission shall have the authority and duty to\n\nprescribe forms and to promulgate rules as may be necessary to carry\n\nout and administer the terms and provisions of this 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":"c10573ce5a11429cf70920c02c1f44b9f05bc051e6af8e05983faaf0701cf6e0","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-2902.5","next":"us-ok/okla.-stat.-tit.-68-68-2902v2"},"notice":"GroundRules: Original legal text. Not legal advice."}