Okla. Stat. tit. 74, § 74-5078

A. For a period of up to ten (10) years from the date of

tenant’s occupancy in an incubator, income earned by the tenant as a

result of activities conducted as an occupant in an incubator,

including income distributed to partners, shareholders of a

corporation for which a Subchapter S election is in effect and to

the members of a limited liability company, shall be exempt from

state income tax. The exemption provided by this section shall

remain in effect for such activities by such tenant after the date

the tenant is no longer an occupant in an incubator, but not to

exceed a total duration of ten (10) years for any tenant.

B. For tax years ending before January 1, 2020, in order to

qualify for the income tax exemption for the sixth through tenth

year as authorized by this section, the tenant must make at least

seventy-five percent (75%) of its gross sales constituting the

principal business activity of the business to buyers located

outside the state or to buyers whose principal business activity is

conducted outside the state or to the federal government or to

buyers located within the state if the product or service is resold

to an out-of-state customer or buyer for ultimate use. Provided, if

a tenant does not achieve the qualifying percentage for any one of

the above tax years, the tenant shall not be disqualified for

subsequent tax years in which the qualifying percentage is achieved.

C. For tax year 2026 and subsequent tax years, following the

first tax year a tenant is provided the exemption pursuant to

Oklahoma Statutes - Title 74. State Government Page 1162

subsection A of this section, in order to continue to qualify for

the exemption, the tenant shall submit information on a form

prescribed by the Oklahoma Department of Commerce which shall

include, but not be limited to, the following:

1. Employment levels, including full-time-equivalent levels and

the ratio of part-time employees to full-time employees;

2. Interns employed;

3. Payments to subcontractors and their purpose;

4. Estimated gross annual revenues;

5. Estimated annual costs for property and services;

6. A statement of any additional financial assistance,

incentives, credits, or exemptions provided by this state or any

political subdivision of this state; and

7. A statement of any taxable income exempted pursuant to this

subsection in the previous tax year.

The Oklahoma Tax Commission shall promulgate rules to implement

the provisions of this section.