Get State Of Oklahoma Credit For Employees In The Form 564

The credit is a refundable credit. Eligible taxpayers are entitled to claim this credit for five consecutive years. After the first year the credit is claimed, the amount of the credit is 80% of the previous yearʼs credit. The credit won't be allowed if the property is transferred or title is changed or conveyed.

Aerospace companies hiring engineers in a variety of fields will receive a tax credit equal to five (5) percent of the compensation paid to an engineer until January 1, 2026, or ten (10) percent if the engineer graduated from an Oklahoma college or university (up to $12,500 per employee per year), plus another credit ...

CHILD TAX CREDIT (CTC) Rate (Non-Refundable):2 Eligible families may claim either 5% of the federal CTC or 20% of the federal CDCTC, whichever is greater. Eligibility Requirements: All Oklahoma taxpayers who qualify for the federal credit are automatically eligible.

This tax credit provides growing manufacturers with a substantial tax credit based on either an investment in depreciable property or on the addition of full-time-equivalent employees engaged in manufacturing, processing or aircraft maintenance.

State Of Oklahoma A $5,000 credit is allowed to a qualified employee who, on or after January 1, 2009, is employed in Oklahoma by or contracting in Oklahoma with a qualified employer whose principal business activity is in the aerospace sector. The credit is allowed each year for up to the first five years.

Vehicle manufacturing companies that manufacture or assemble motor vehicles hiring engineers that are newly employed in the vehicle manufacturing sector will receive a tax credit equal to 5% of the compensation paid to an engineer, and 10% if the engineer graduated from an Oklahoma college or university (up to $12,500 ...

Tax credit is calculated at 10% of compensation paid to an engineer graduated from an accredited Oklahoma institution or 5% of compensation paid to an engineer graduating from an accredited institution outside Oklahoma.