Taxes and Incentives
The city of Tulsa and the state of Oklahoma have created programs and incentives to encourage business growth. Our economic development team helps businesses to identify which incentives they qualify for and then to gather the materials necessary to utilize them. Below are a few of the incentives available to regional businesses.
For detailed information regarding state incentives, contact us or click here.
Ad Valorem Exemption
(68 O.S. § 2902)
Except as otherwise provided by subsection H of Section 3658 of this title, the exemption authorized by this section may be claimed a qualifying manufacturing concern as defined by Section 6B of Article X of the...
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Aerospace Industry Engineer Workforce Tax Credit
(68 O.S. § 2357.301)
The Aerospace Industry Engineer Workforce Tax Credit is for engineers employed by Oklahoma companies as well as for companies hiring engineers in Oklahoma (credits sunset January 1, 2026).
Individual Tax Credits...
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Because of the state’s unique Native American heritage, two-thirds of Oklahoma locations qualify for special federal tax treatment. Businesses locating or expanding in these areas can claim accelerated federal depreciation on their buildings, resulting in tax savings of up to 40%. Additionally, businesses in qualifying...
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Training For Industry Program (Tip)
The American dream is alive and well in Oklahoma, as companies secure their future with a talented, skilled and productive workforce. Whether a new or an expanding company in Oklahoma, the nationally acclaimed Training for Industry Program (TIP) can...
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(62 O.S. § 690.1)
Enterprise Zones can be designated in disadvantaged counties, cities or portions of cities. The Oklahoma Department of Commerce designates enterprise zones and publishes lists of eligible counties, cities and census tracts.
Businesses located in an Enterprise Zone are eligible...
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(Art. 10, § 6A Okla. Const.) (68 O.S. § 2902.2)
Oklahoma’s “Freeport Exemption” refers to the Oklahoma Constitutional provision contained in Oklahoma Constitution Article 10, Section 6A relating to property moving through the state and exempt from taxation goods, wares and merchandise held for...
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(62 O.S. § 891.1)
The Oklahoma Business Expansion Incentive Program is available for business expansion projects which include job creation and significant investment in facilities, machinery, and equipment. Complete financial information for three years prior, detailed business plan, detailed budget for expansion project, and...
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The Oklahoma Quality Jobs Program serves as an incentive for companies to expand or relocate jobs to Oklahoma by providing a rebate of a portion of newly created payroll in the state. The program induces the creation of well-paid jobs and promotes economic development. Companies...
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(62 O.S. § 48.2)
The Oklahoma Quick Action Closing Fund is exclusively offered by the Governor of Oklahoma and was created for reducing the cost gaps for economic development and related infrastructure development when expenditure of funds is likely a determining factor in locating...
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Quality Jobs + Investment Tax Credits
(Effective February 1, 2013)
This incentive is available for manufacturers who have capital investments greater than $40 million in addition to creating skilled jobs. The incentive lays the foundation for attracting “top-notch” companies to Oklahoma and demonstrates...
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Oklahoma offers sales tax refunds for qualified companies. To qualify, a company must submit an Application/Intent to Qualify to the Oklahoma Tax Commission to establish an interest-bearing account.
Upon receiving the application and documentation concerning the sales/use taxes to be paid by the applicant...
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Manufacturers
(68 O.S. §§ 1359, 1359.2 and 1364)
Oklahoma has a comprehensive sales tax exemption for manufacturers who obtain a Manufacturer’s Sales Tax Exemption Permit from the Oklahoma Tax Commission. The permit must be renewed every three years. This permit must be presented...
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(68 O.S. § 3901)
The Small Employer Quality Jobs Program Allows qualifying small businesses (500 employees or less) to receive up to a 5% cash-back incentive for up to 7 years to locate or expand in Oklahoma. Qualifying payroll must be attributable to annual...
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Cybersecurity or software employees who have received a degree from an accredited institution can receive a tax credit up to $2,200 annually or $1,800 annually for qualifying employees who are awarded a certificate from a technology center.
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(68 O.S. § 2357.4)*
Investment/New Jobs Tax Credits provide growing manufacturers a significant 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. Participation in this benefit prohibits a manufacturer...
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