Okla. Stat. tit. 68, § 68-2357.303
This is the official text of Okla. Stat. tit. 68, § 68-2357.303, part of Oklahoma’s Stat. tit. 68, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 68,." Browse the sections below, each linked to its official government source.
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Credit for compensation paid to employees
Official statutory text
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 compensation paid to a qualified employee.
Oklahoma Statutes - Title 68. Revenue and Taxation Page 894
B. The credit authorized by subsection A of this section shall
be in the amount of:
1. Ten percent (10%) of the compensation paid for the first
through fifth years of employment in the aerospace sector if the
qualified employee graduated from an institution located in this
state; or
2. Five percent (5%) of the compensation paid for the first
through fifth years of employment in the aerospace sector if the
qualified employee graduated from an institution located outside
this state.
C. The credit authorized by this section shall not exceed
Twelve Thousand Five Hundred Dollars ($12,500.00) for each qualified
employee annually.
D. The credit authorized by this section shall not be used to
reduce the tax liability of the qualified employer to less than zero
(0).
E. No credit authorized pursuant to this section shall be
claimed after the fifth year of employment.
F. No credit otherwise authorized by the provisions of this
section may be claimed for any event, transaction, investment,
expenditure or other act occurring on or after July 1, 2010, for
which the credit would otherwise be allowable. The provisions of
this subsection shall cease to be operative on July 1, 2011.
Beginning July 1, 2011, the credit authorized by this section may be
claimed for any event, transaction, investment, expenditure or other
act occurring on or after July 1, 2011, according to the provisions
of this section.
years 2009 through 2031, a qualified employer shall be allowed a
credit against the tax imposed pursuant to Section 2355 of this
title for compensation paid to a qualified employee.
Oklahoma Statutes - Title 68. Revenue and Taxation Page 894
B. The credit authorized by subsection A of this section shall
be in the amount of:
1. Ten percent (10%) of the compensation paid for the first
through fifth years of employment in the aerospace sector if the
qualified employee graduated from an institution located in this
state; or
2. Five percent (5%) of the compensation paid for the first
through fifth years of employment in the aerospace sector if the
qualified employee graduated from an institution located outside
this state.
C. The credit authorized by this section shall not exceed
Twelve Thousand Five Hundred Dollars ($12,500.00) for each qualified
employee annually.
D. The credit authorized by this section shall not be used to
reduce the tax liability of the qualified employer to less than zero
(0).
E. No credit authorized pursuant to this section shall be
claimed after the fifth year of employment.
F. No credit otherwise authorized by the provisions of this
section may be claimed for any event, transaction, investment,
expenditure or other act occurring on or after July 1, 2010, for
which the credit would otherwise be allowable. The provisions of
this subsection shall cease to be operative on July 1, 2011.
Beginning July 1, 2011, the credit authorized by this section may be
claimed for any event, transaction, investment, expenditure or other
act occurring on or after July 1, 2011, according to the provisions
of this section.
Status: in_force · Read it on the official government site
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