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
Business Requirements
Other Fixed Asset Programs
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