Okla. Stat. tit. 68, § 68-4106
This is the official text of Okla. Stat. tit. 68, § 68-4106, 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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Claims for investment payments – Timing – Verification –
Official statutory text
Cessation of payments and recovery of payments when agreement terms
not met – Additional payments.
A. As soon as practicable after the end of a fiscal year for
which a qualified establishment has qualified to receive an
investment payment, the establishment shall file a claim for the
payment with the Oklahoma Tax Commission for ten percent (10%) of
the total amount of capital costs actually invested by the
establishment during such fiscal year.
B. If the first claim for investment payment is filed later
than two (2) years from the start date designated by the Department,
the agreement shall be deemed expired and void.
C. The Tax Commission shall verify for each fiscal year the
actual amount of capital costs and the actual tax benefit accrued or
to be accrued to the State of Oklahoma. If the Tax Commission is
not able to provide such verification utilizing all available
resources, the Tax Commission may request such additional
information from the establishment as may be necessary or may reject
the establishment’s claim based upon analysis of actual capital
costs incurred by the establishment.
D. If the qualified establishment does not meet the terms of
the agreement and all provisions of this act, investment payments
shall cease and shall not be resumed, and the agreement shall expire
and be void. The Oklahoma Department of Commerce may seek to
recover in a court of competent jurisdiction any payments made to a
qualified establishment if the establishment does not comply with
the requirements of subparagraph e of paragraph 2 of subsection F of
Section 4 of this act; provided, however, that no investment
Oklahoma Statutes - Title 68. Revenue and Taxation Page 1480
payments shall be subject to recovery or recapture based upon a
failure to invest capital equal to the amount estimated by the
qualified establishment as stated in a quality investment agreement.
E. A qualified establishment that has qualified pursuant to
Section 4 of this act may receive payments only in accordance with
the provisions under which it initially applied and was approved.
F. An establishment that is receiving investment payments may
not apply for additional investment payments for any new capital
costs until expiration of its quality investment agreement.
Provided, a qualified establishment may apply for additional
investment payments pursuant to subsequent quality investment
agreements based upon additional capital costs at a different
manufacturing site.
G. As soon as practicable after verification of the eligibility
of the manufacturer as required by this section, the Tax Commission
shall issue a warrant to the establishment.
not met – Additional payments.
A. As soon as practicable after the end of a fiscal year for
which a qualified establishment has qualified to receive an
investment payment, the establishment shall file a claim for the
payment with the Oklahoma Tax Commission for ten percent (10%) of
the total amount of capital costs actually invested by the
establishment during such fiscal year.
B. If the first claim for investment payment is filed later
than two (2) years from the start date designated by the Department,
the agreement shall be deemed expired and void.
C. The Tax Commission shall verify for each fiscal year the
actual amount of capital costs and the actual tax benefit accrued or
to be accrued to the State of Oklahoma. If the Tax Commission is
not able to provide such verification utilizing all available
resources, the Tax Commission may request such additional
information from the establishment as may be necessary or may reject
the establishment’s claim based upon analysis of actual capital
costs incurred by the establishment.
D. If the qualified establishment does not meet the terms of
the agreement and all provisions of this act, investment payments
shall cease and shall not be resumed, and the agreement shall expire
and be void. The Oklahoma Department of Commerce may seek to
recover in a court of competent jurisdiction any payments made to a
qualified establishment if the establishment does not comply with
the requirements of subparagraph e of paragraph 2 of subsection F of
Section 4 of this act; provided, however, that no investment
Oklahoma Statutes - Title 68. Revenue and Taxation Page 1480
payments shall be subject to recovery or recapture based upon a
failure to invest capital equal to the amount estimated by the
qualified establishment as stated in a quality investment agreement.
E. A qualified establishment that has qualified pursuant to
Section 4 of this act may receive payments only in accordance with
the provisions under which it initially applied and was approved.
F. An establishment that is receiving investment payments may
not apply for additional investment payments for any new capital
costs until expiration of its quality investment agreement.
Provided, a qualified establishment may apply for additional
investment payments pursuant to subsequent quality investment
agreements based upon additional capital costs at a different
manufacturing site.
G. As soon as practicable after verification of the eligibility
of the manufacturer as required by this section, the Tax Commission
shall issue a warrant to the establishment.
Status: in_force · Read it on the official government site
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