Title 68 — Title 68 — Revenue and Taxation

apportioned to teachers' retirement revolving fund - Annual review. In addition to any other duties prescribed by law, at the meeting required by paragraph 3 of Section 23 of Article X of the Oklahoma Constitution to be held in February of the first calendar year after an income …

A. As used in this section: 1. “Revenue collections” means the amount of revenue estimated to have been collected and expected to be collected by the state beginning on July 1, 2010, and ending before January 1, 2015, from sales tax, motor vehicle taxes and fees, vehicle excise t…

68 O.S. § 2355.1D Repealed by Laws 2014, c. 138, § 2, eff. Nov. 1, 2014

68 O.S. § 2355.1E Repealed by Laws 2014, c. 195, § 3

A. The provisions of this section shall be applicable with respect to the implementation of the five percent (5%) top marginal rate of individual income tax otherwise authorized pursuant to the provisions of subparagraph (f) of paragraphs 1 and 2 of subsection C of Section 2355 o…

§68-2355.1P-1. Short title - Pass-Through Entity Tax Equity Act of 2019. Sections 1 through 9 of this act shall be known and may be cited as the "Pass-Through Entity Tax Equity Act of 2019". Added by Laws 2019, c. 201, § 1, emerg. eff. April 29, 2019. §68-2355.1P-2. Definitions. …

A. There is hereby created in the State Treasury a revolving fund for the State Treasurer to be designated the "Oklahoma Taxpayer Relief Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of the monies transferred to su…

A. The withheld taxes and estimated taxes paid shall be allowed as credits as provided by law. B. 1. There shall be allowed as a credit against the tax imposed by Section 2355 of this title the amount of tax paid another state by a resident individual, as defined in paragraph 4 o…

As used in this section and Section 2357.2 of this title, "solar energy system" means a system primarily designed to provide heating or cooling, electrical or mechanical power, or any combination thereof by means of collecting, transferring or storing solar generated energy for s…

This act shall be known and may be cited as the "Oklahoma Coal Production Incentive Act". Added by Laws 1988, c. 316, § 1, eff. Jan. 1, 1989.

litter – Calculation – Qualification – Carry-forward period. A. For taxable years beginning after December 31, 2004, and ending on or before December 31, 2009, there shall be allowed a credit against the tax imposed by Section 2355 of this title for the purchase and transportatio…

A. Except as otherwise provided in subsection E of this section, for taxable years beginning after December 31, 2004, and ending before January 1, 2015, there shall be allowed against the tax imposed by Section 2355 of this title, a credit equal to twenty- five percent (25%) of t…

2014.

A. Sections 7 and 8 of this act shall be known and may be cited as the “Railroad Modernization Act of 2005”. B. The exercise of the powers granted to the Department of Transportation and the Oklahoma Tax Commission by the Railroad Modernization Act of 2005 shall be in all respect…

expenditures. A. Except as otherwise provided by this section, for taxable years beginning after December 31, 2005, and ending before January 1, 2030, there shall be allowed a credit against the tax imposed by Section 2355 of this title equal to fifty percent (50%) of an eligible…

expenditures. A. As used in this section: 1. “Eligible entity” means an entity incorporated and located in the state with a qualifying project in a qualifying project location; 2. “Qualifying project” means the new construction or expansion of an eligible entity or the developmen…

A. For purposes of this section, the term "person" means any legal business entity including limited and general partnerships, corporations, sole proprietorships, and limited liability companies, but does not include individuals. B. 1. Except as otherwise provided by this section…

A. There is hereby created the Task Force for the Study of Transferable Tax Credits. B. The Task Force shall consist of nine (9) members to be appointed or selected as follows: 1. Three members to be appointed by the Governor at least one of whom shall be a principal member of th…

269, § 23, operative July 1, 1986.

68 O.S. § 2357.13 Repealed by Laws 2013, c. 363, § 5, eff. Jan. 1, 2014

145, § 359, eff. July 1, 1993.

145, § 359, eff. July 1, 1993.

145, § 359, eff. July 1, 1993.

145, § 359, eff. July 1, 1993.

145, § 359, eff. July 1, 1993.

145, § 359, eff. July 1, 1993.

1, 1996.

145, § 359, eff. July 1, 1993.

A. As used in this act: 1. “Qualified business enterprise” means an entity or affiliated group of entities electing to file a consolidated Oklahoma income tax return: a. organized as a corporation, partnership, limited liability company or other entity having limited liability pu…

A. As used in this act: 1. “Qualified business enterprise” means an entity: a. organized as a corporation, partnership, limited partnership, limited liability company, business trust or other entity, if such entity is registered to do business within the state, or is otherwise la…

68 O.S. § 2357.203 Repealed by Laws 2013, c. 79, § 1, eff. Nov. 1, 2013

Election and allocation against capital account – Definitions. A. A taxpayer may elect to treat one hundred percent (100%) of the cost of a qualified refinery property as an expense that is not chargeable to a capital account. Any cost so treated shall be allowed as a deduction f…

allocation. A. A refiner who is: 1. A small business refiner; or 2. One or more persons directly holding an ownership interest in the refiner, may elect to allocate all or a portion of the cost of complying with sulfur regulations issued by the Environmental Protection Agency as …

- Tax credit - Definitions. A. This act shall be known and may be cited as the "Oklahoma Equal Opportunity Education Scholarship Act". B. 1. Except as provided in subsection G of this section, after August 26, 2011, there shall be allowed a credit for any taxpayer who makes a con…

1993 and by Laws 1993, c. 275, § 51, eff. July 1, 1993.

OS 68-2357.22v1 (HB 3051, Laws 2024, c. 143, § 1). OS 68-2357.22v2 (SB 2038, Laws 2024, c. 452, § 153).

motor vehicle fuel property. A. For tax years 2028 and before, there shall be allowed a one- time credit against the income tax imposed by Section 2355 of this title for investments in qualified clean-burning motor vehicle fuel property placed in service on or after January 1, 19…

motor vehicle fuel property. A. For tax years 2028 and before, there shall be allowed a one- time credit against the income tax imposed by Section 2355 of this title for investments in qualified clean-burning motor vehicle fuel property placed in service on or after January 1, 19…

1993.

68 O.S. § 2357.24 Repealed by Laws 2013, c. 363, § 6, eff. Jan. 1, 2014

cooperatives, ventures and marketing associations. A. Except as provided in subsection K of this section, there shall be allowed a credit against the tax imposed by Section 2355 of this title for direct investments by Oklahoma agricultural producers in Oklahoma producer-owned agr…

Oklahoma producer-owned agricultural processing marketing associations. No recreational activities group as described in Section 1 of this act can receive more than fifteen percent (15%) of the tax credits allowed pursuant to Section 1 of this act. Added by Laws 2005, c. 299, § 2…

68 O.S. § 2357.26 Repealed by Laws 2013, c. 363, § 7, eff. Jan. 1, 2014

A. Except as otherwise provided by subsection E or F of this section, for tax years beginning after December 31, 1998, and ending before January 1, 2016, there shall be allowed a credit against the tax imposed by Section 2355 of this title for eligible expenses incurred by entiti…

A. For tax years beginning after December 31, 1999, and ending before January 1, 2006, there shall be allowed to an investor making an eligible investment a credit against the tax imposed by Section 2355 of this title or Section 624 or 628 of Title 36 of the Oklahoma Statutes. Th…

68 O.S. § 2357.29 Repealed by Laws 2013, c. 363, § 8, eff. Jan. 1, 2014

natural disasters in 2012 and 2013. A. For tax years beginning after December 31, 2011, there shall be allowed a credit against the tax imposed by Section 2355 of this title for owners of residential real property whose primary residence was damaged or destroyed in a natural disa…

68 O.S. § 2357.30 Repealed by Laws 2013, c. 363, § 9, eff. Jan. 1, 2014

As used in Sections 2357.301 through 2357.304 of this title: 1. "Aerospace sector" means a private or public organization located in this state and engaged in the manufacture of aerospace or defense hardware or software, aerospace maintenance, aerospace repair and overhaul, suppl…

A. Except as provided in subsection F of this section, for tax years 2009 through 2031, a qualified employer shall be allowed a credit against the tax imposed pursuant to Section 2355 of this title for tuition reimbursed to a qualified employee. B. The credit authorized by subsec…