Get Business IncentivesOklahoma Department Of Commerce

Oklahoma's commitment to fostering a business-friendly environment is evident in its low top marginal corporate income tax rate. For businesses, this means more resources to invest in growth, hire employees and innovate.

The refundable personal income tax credit for sales tax paid is in the amount of $40 per person and is available to childless households with a total income of $20,000 or less and households with children, a person at least 65 years of age, or a physically disabled person and a total income of up to $50,000.

The refundable credit relieves property taxes exceeding a threshold of 1% of income if gross income is $12,000 or less. The maximum benefit is $200. The benefit is disbursed as an income tax credit or as a direct rebate if the claimant is not required to file an income tax return.

New Market Tax Credits To spur private investment in low-income urban and rural communities, investors receive a 39% federal tax credit.

The NMTC Program attracts private capital into low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax in exchange for making equity investments in specialized financial intermediaries called Community Development Entities (CDEs).

The state provides cash back to the business for taxes paid. Often these refunds may be made for one of a few key purposes: employee payroll withholding tax payments, corporate income tax payment, property payments, or sales taxes payments. The state may offer other incentives through direct or regulatory relief.

Examples of NMTC funded projects have included: Rural pharmacy retail stores. Supermarkets that operate in severely distressed rural areas. Building or expanding healthcare facilities that meet the needs of rural communities. Creating affordable office rental space for human service organizations.

* This is called an economic nexus, a sales tax nexus determined by economic activity, i.e. - the amount of sales you make in a particular state. Any kind of economic activity could trigger the nexus, once your total sales reach a certain threshold amount. The threshold in Oklahoma is $100,000 in annual sales.