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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionOklahoma
Jurisdiction type: State
Fiscal year ending In2019
Program nameNew Products Development Income Tax Exemptions
Program purpose: Entrepreneurship/innovation
Statutory authority: 74 O.S. § 5064.7
Abating jurisdiction(s): State of Oklahoma
Applicable taxesState Income Tax
Method of abatement: Tax Exemption
Provisions for recapture: (not specified)
Gross revenue loss: $448,000
Reimbursement / offset: $0
Net revenue loss: $448,000
Type of loss: Active
Additional notes on dislosureThe reporting for Tax Exemptions related to New Products Development Income Tax Exemptions are commingled with other Tax Exemptions on the forms provided to OTC. As a result, it is not possible to determine the amount of tax abated during the fiscal year ended June 30, 2019.
Document sourcehttps://oklahoma.gov/omes/services/accounting-reporting/acfr-archives.html