Investment Tax Credits

Manufacturers investing in fixed assets or creating jobs may qualify for the Investment / New Jobs Income Tax Credit. The program provides qualifying businesses state income tax credits based on the investment made or full-time jobs created. To learn more and to determine program eligibility, explore the Incentive website for the Oklahoma Department of Commerce.

Incentive Benefits
  • Annual tax credit for up to 5 years.
  • Credit value is determined by the greater of:
    • 1% of Qualifying Investment
    • $500 per New Job Created
  • Credit doubles to 2% or $1,000 in Enterprize Zones or if $40 million is invested.
    • McAlester is in an Enterprize Zone.
  • May be combined with Oklahoma Quality Jobs if $40 million is invested within 3 years.

Business Requirements
  • Must be in a qualifying industry.
  • Investments in depreciable property must equal or exceed $50,000.
  • Total employment must not decrease as a result of the investment.

Other Fixed Asset Programs
  • American Indian Lands Accelerated Federal Depreciation