Oklahoma State Tax Credits

More ways to save your hard-earned money from the tax man!

Oklahoma has some great State Tax Credit for you.

Thank you so much for checking our resource out here for your state and congratulations for taking a proactive step to paying less in taxes. For your state, we have identified the tax credits that are currently being offered to help you pay less in state taxes.

We hope this resource is helpful to you, and if there is something you feel we have missed, please let us know!

It would be completely arrogant of us to think that we know all things and if we missed something we want to know so we can vet that and help you and our other friends in the entrepreneurial community pay less in taxes! And if you found this helpful, you should check out our DIY resources inside of our Tax Savings Communities (found at www.MakeTaxesFair.com/Our-Communities).

We're also ready to help you if you want to skip the line of the DIY process and get help directly from us. To learn more about how we help our clients check out www.MakeTaxesFair.com/Get-My-Roadmap
Oklahoma

Oklahoma Home Office Tax Credit

Overview:
This tax credit incentivizes insurance companies to establish or convert regional offices into home offices or headquarters in Oklahoma. The credit is applied against state tax on premiums written and increases with the number of employees working at the designated office.

Who It’s For:
Insurance companies operating in Oklahoma that are expanding or relocating their regional offices into official home offices or headquarters.

Four Key Highlights:

  1. Graduated Tax Credit (15%–50%)
    – The credit ranges from 15% to 50% of premium taxes, depending on the number of full-time employees maintained at the designated office.

  2. Employee & Payroll Growth Required
    – Companies must demonstrate increases in employment, payroll, and average wages to justify the credit.

  3. Mandatory Pension Fund Payments
    – Contributions to pension funds must be completed before applying any credit against state tax liability.

  4. Strict Reporting & Evaluation Criteria
    – Eligibility is evaluated based on ROI, employment shifts, and comparisons with insurers in states without a similar credit.

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Oklahoma Investment/New Jobs Tax Credit

Overview:
This program provides a five-year tax credit for businesses that invest in depreciable property or create new jobs within eligible industries in Oklahoma. The standard credit is 1% of capital investment or $500 per new job, with a double credit available for larger investments or activity in Enterprise Zones.

Who It’s For:
Manufacturers, aircraft maintenance facilities, and web search portal companies expanding operations or hiring in Oklahoma.

Four Key Highlights:

  1. Dual Benefit Options
    – Claim 1% of qualified depreciable property investments or $500 for each new job created—whichever is greater.

  2. Enhanced Credit Opportunities
    – Credit doubles if the company invests at least $40 million or operates in a designated Enterprise Zone.

  3. Five-Year Claim Window
    – The credit can be claimed for up to five consecutive years, offering ongoing tax relief for continued investment.

  4. Documentation & ROI Evaluation Required
    – Businesses must track employment, payroll, and capital investment for state ROI evaluation and compliance.

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