Taxes and Incentives

Quality Jobs + Investment Tax Credit

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 a policy of incentivizing businesses with large (greater than $40 million) capital investments that create jobs that pay higher than average wages.

Qualifying Requirements

Same as present Quality Jobs Program job creation requirements but the wages must be greater than the state’s average wage. Average county wage requirements change every year at the same time as the Quality Jobs Program’s wage;
Capital investment must be greater than $40 million within three years of start date to qualify for Investment Tax Credits - a 2% tax credit per year for 5 years;
With the ability to take both Quality Jobs and Investment Tax Credits incentives, the number of the Quality Jobs portion is equal to the calculated number;
There are no automatic 5% areas;
Companies may not exceed the 5% net benefit rate;
Quality Jobs + Investment Tax Credits may not be combined with Small Employer Quality Jobs or 21st Century Quality Jobs;
Only the manufacturing industries that presently qualify for Investment Tax Credits may qualify for this incentive.

*Sb 1582, Which Is Effective As Of November 1, 2016, Amends 68 O.S. §2357.4 By Limiting The Amount Of Credit For Various Periods By Implementing A $25 Million Annual Cap For Tax Years Beginning On Or After January 1, 2016 And Ending On Or Before December 31, 2018).

For more information contact the Oklahoma Tax Commission at (405) 521-3133 or helpmaster@tax.ok.gov. For forms, visit www.tax.ok.gov.