Oklahoma Tax Incentives
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Oklahoma Tax Incentives
Page Contents
- 2015 Oklahoma incentives and Tax Guide
- 21st Century Quality Jobs
- ABLE Tech Device Demo and Short-Term Loan Program
- Economic Development Pooled Financing
- Employment Services for Your Business
- Equipment Exchange
- GrowOK Fund
- Investment/New Jobs Tax Credits
- Microsoft Accessibility Resource Center
- Office Locater
- Oklahoma ABLE Tech
- Oklahoma Department of Commerce
- Oklahoma Durable Medical Equipment Reuse Program
- Optional Program for Hiring Applicants with Disabilities
- Quality Jobs Program
- Small Employer Quality Jobs Program
- Workforce for All – Resources for Employers
2015 Oklahoma Incentives and Tax Guide
The rules, legislation and appropriations related to taxes and incentives are very dynamic, and as changes occur, this Tax Guide will be updated. Please refer to this on-line guide often to get the most current information.
Oklahoma Incentives and Tax Guide PDF
Oklahoma Business Resource Guide PDF
21st Century Quality Jobs
Oklahoma’s 21st Century Quality Jobs offers incentives to businesses with a highly skilled, knowledge-based workforce. For qualifying companies, this unique incentive would pay businesses cash back, up to 10 percent of payroll, for up to ten years for the creation of 10 jobs with high average wage of $94,000 annually or higher, depending on county.
This incentive encourages Oklahoma businesses to employ highly skilled workers, including those who have disabilities.
21st-Century Quality Jobs Application and Worksheet XLS
21st-Century Quality Jobs Guidelines PDF
ABLE Tech Device Demo and Short-Term Loan Program
Oklahoma ABLE Tech and its statewide partners operate an assistive technology device demonstration center and short-term loan program to increase access to and utilization of assistive technology for individuals with disabilities. The program is available to Oklahoma residents with disabilities, their family members and the professionals that support them.
Demonstrations give individuals the ability to see, touch, and try AT to help them in the decision-making process by providing:
- Hands-on exploration of devices
- Information on the latest technology
- Low-tech solutions and adaptations
- Vendor sources
The short-term loan program provides individuals the opportunity to borrow AT to:
- Make an informed decision before purchase
- Ensure compatibility between the device and user
- Have back-up equipment while waiting for repair
- Have a device while waiting for new equipment
Online requests for equipment and device loans.
ABLE Tech Device Demo and Short-Term Loan Program Request Form PDF
Economic Development Pooled Financing
The Oklahoma Community Economic Development Pooled Finance incentive targets business expansion projects which include job creation and significant investment in facilities, machinery, and equipment. With a $200 million capacity, this incentive is comprised of two funding options: Company-Purchased Debt option and a Public Finance Debt option.
More jobs for workers with disabilities can be a positive outcome of this incentive.
Employment Services for Your Business
Many Oklahoma employers are saving time and money by working with Department of Rehabilitation Services DRS to recruit qualified employees who really want to work. As a result, these businesses are rediscovering dependability, commitment and lower employee turnover. At the same time, they are getting a return on their state and federal tax dollars invested in vocational rehabilitation programs.
Information on services for employers offered by DRS through its Vocational Rehabilitation and Visual Services staff.
Department of Rehabilitation Services Brochure PDF
Equipment Exchange
The goal of the ABLE Tech Equipment Exchange hosted by ABLE Tech is to put AT equipment that is not currently being used into the hands of someone who can benefit from it. The program is designed to facilitate equipment exchange between individuals and is not for the use of vendors or distributors.
GrowOK Fund
GROWOK targets companies past the research and development stage. Through this program, i2E will invest with companies that have market revenue, preferably that have already achieved break even, and have qualified private capital investments. The venture capital may be used by the early stage company for working capital, market expansion, equipment purchase and activities related to the growth of the business.
Jobs generated by this fund can go to employees with disabilities.
To start the GROWOK application process.
Investment/New Jobs Tax Credits
Investment/New Jobs Tax Credits provide growing manufacturers a significant tax credit based on either an investment in depreciable property or on the addition of full-time-equivalent employees engaged in manufacturing, processing, or aircraft maintenance.
The additional employees who are hired to qualify for this tax credit could be workers with disabilities who are skilled in manufacturing, processing, or aircraft maintenance.
Microsoft Accessibility Resource Center
A Microsoft Accessibility Resource Center provides expert consultation on assistive technology and accessibility features built into Microsoft products. Their specialists understand how disabilities impact computer users and are trained to evaluate the needs of the person with the disability. Some centers offer computer training and many organizations have lending libraries, so a consumer can try a product before purchasing it.
Office Locater
This web page has a search engine that uses zip codes to find the nearest DRS office. Also, on this page, middle and high school students can enter the names of their schools to find the closest office.
Oklahoma ABLE Tech
Oklahoma ABLE Tech has useful information on obtaining assistive technology for people with disabilities in Oklahoma. It defines assistive technology as any item, piece of equipment, or product system, whether acquired commercially, modified, or customized, that is used to increase, maintain, or improve functional capabilities of individuals with disabilities.
Oklahoma Department of Commerce
The Oklahoma Department of Commerce is the primary economic development entity in the state. Its mission is to create and deliver high-impact solutions that lead to prosperous lives and communities for all Oklahomans.
Oklahoma Durable Medical Equipment Reuse Program
The Oklahoma Durable Medical Equipment Reuse Program is designed to reuse valuable DME that is no longer needed by its current owner, and reassign it to an Oklahoma resident in need. Priority will be given to SoonerCare .members, but any Oklahoma resident is eligible with a completed application.
Online applications for Durable Medical Equipment.
Durable Medical Equipment Reuse Program application – DOCX
Optional Program for Hiring Applicants with Disabilities
Human Capital Management administers the Optional Program for Hiring Applicants with Disabilities, through which persons with severe disabilities, who are legal residents of Oklahoma, may gain access to state employment. All applicants must meet the minimum education and experience qualifications for the job posting they are applying for.
Quality Jobs Program
The Quality Jobs Program targets manufacturers and certain service industries that have a new payroll investment of $2.5 million or more to receive a quarterly cash payment of up to 5 percent of new taxable payroll. A lower payroll threshold is available for certain food processing and research and development projects, or as a result of locating in targeted areas. Qualifying wage requirements would be the lower of the average county wage or the state index wage. Companies that have 10 percent of their workforce as veterans qualify for a higher 6 percent net benefit rate.
Some of the jobs created as a result of this program can go to workers with disabilities.
Quality Jobs Program Guidelines PDF
Quality Jobs Program Application XLS
Small Employer Quality Jobs Program
The Small Employer Quality Jobs Program provides quarterly incentive payments to a qualifying small employer (90 employees or less). Quarterly payments may be as much as 5% of new taxable payroll for up to 7 years. Qualifying payroll must be attributable to annual salaries that are at least 110% of the average wage of the county in which the jobs are located. Qualifying companies must also attain 75% out of state sales.
The applicant company must create between 5 and 15 new jobs, at a minimum, to qualify for this incentive. Some of these new jobs could be occupied by workers with disabilities.
Small Employer Quality Jobs Guidelines PDF
Small Employer Quality Jobs Application XLS
Workforce for All – Resources for Employers
This page has resources for businesses that employ workers with disabilities.
