Okla. Stat. tit. 68, § 68-2357.304
This is the official text of Okla. Stat. tit. 68, § 68-2357.304, 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 employees
Official statutory text
A. Except as provided in subsection D of this section, for tax
years 2009 through 2031, a qualified employee shall be allowed a
credit against the tax imposed pursuant to Section 2355 of this
title of up to Five Thousand Dollars ($5,000.00) per tax year for a
period of time not to exceed five (5) years during the lifetime of
the qualified employee. This credit may be claimed in
nonconsecutive tax years.
B. The credit authorized by this section shall not be used to
reduce the tax liability of the taxpayer to less than zero (0).
C. Any credit claimed, but not used, may be carried over, in
order, to each of the five (5) subsequent taxable years.
D. 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
Oklahoma Statutes - Title 68. Revenue and Taxation Page 895
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 employee shall be allowed a
credit against the tax imposed pursuant to Section 2355 of this
title of up to Five Thousand Dollars ($5,000.00) per tax year for a
period of time not to exceed five (5) years during the lifetime of
the qualified employee. This credit may be claimed in
nonconsecutive tax years.
B. The credit authorized by this section shall not be used to
reduce the tax liability of the taxpayer to less than zero (0).
C. Any credit claimed, but not used, may be carried over, in
order, to each of the five (5) subsequent taxable years.
D. 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
Oklahoma Statutes - Title 68. Revenue and Taxation Page 895
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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