Job creation requirements similar to present QJ program except that the wages must be greater than the state’s average wage – presently $40,747 which changes every year at the same time that average county wages change in the Quality Jobs program.
Capital investment greater than $40 million, which is similar to present ITC requirements and qualifies the investment for a 2% tax credit per year for 5 years or a credit of $1000 per year per new job.
With the ability to take both QJ and ITC incentives, the NBR of the QJ portion is equal to the calculated NBR. There are no automatic 5% areas.
Companies could not exceed the 5% NBR if they pay wages greater than the normal 5% NBR wage.
QJ+ITC may not be combined with Small Quality Jobs or 21st Century QJ.
Industries that may qualify for the incentive are only those industries that presently qualify for ITC (that is manufacturing industries).
Disclaimer
The materials contained on this website have been prepared by the Oklahoma Department of Commerce for informational purposes only and do not constitute legal or tax advice. This information is subject to change based on judicial interpretation and legislative action. The application of the information is subject to your unique facts and circumstances. YOU SHOULD NOT ACT UPON ANY INFORMATION CONTAINED IN THESE MATERIALS WITHOUT SEEKING YOUR OWN PROFESSIONAL LEGAL AND TAX ADVICE.