1(a) Quality Jobs Incentive Quarterly payments based on a fixed percentage of new payroll for up to ten years.
1(b) Investment/New Jobs Tax Credit As an alternative to the Quality Jobs Incentive, Oklahoma allows an income tax credit of 2 percent a year on eligible new manufacturing investment or $1,000 per new employee for five years.
2. Sales and Use Tax Reimbursement on Construction Applies to manufacturing firms with new building investment of at least $5 million dollars.
3. Sales Tax Exemption on Machinery and Equipment Valid at all times for machinery and equipment purchased for use in the manufacturing process. Includes replacement parts as well as new and used equipment.
4. Freeport (Inventory)Tax Exemption Firms able to move inventory though their facilities within a nine month period are able to avoid property tax liability (no inventory tax) on imported items.
5. Sales Tax Exemption on Goods Consumed in Manufacturing Includes tangible personal property used in the manufacturing process as well as primary and secondary packaging materials.
6. Sales Tax Exemption on Energy Used in Manufacturing Includes all fuel and electric power used in the manufacturing process is exempt from sales and use taxes.