Economic Incentives & Tax Credits

High impact incentives for small businesses in Oklahoma

The major industries that contributed the most to Oklahoma’s gross domestic product (GDP) in 2022 were government, mining, finance, professional services, and manufacturing. Government and mining contributed more to Oklahoma’s GDP than they did to the nation’s and region’s GDP, while finance, professional services, and manufacturing were less important to Oklahoma than they were to the nation and region in 2022.Looking at more specific industries, among those that accounted for at least one percent of Oklahoma’s GDP in 2021, oil and gas extraction produced far more for the state than for the nation, contributing 9.7 percent to Oklahoma’s GDP and 1 percent to the nation’s. Other industries that overperformed in Oklahoma relative to national averages in 2021 were state and local government, pipeline transportation, the federal government, and food services.

Small Business Focus

Oklahoma Department of Commerce
21st Century Quality Jobs

This program is designed to attract growth industries and sectors to Oklahoma in the 21st century through a policy of rewarding businesses with a highly skilled, knowledge-based workforce.

Oklahoma Tax Commission
Aircraft Maintenance or Manufacturing Facility Sales Tax Exemption

Oklahoma offers a sales tax exemption for sales of computers, data processing equipment and related telecommunications equipment for use in an aircraft maintenance or manufacturing facility.
Oklahoma Tax Commission
Oklahoma Construction Materials Sales Tax Refund

Oklahoma refunds sales taxes paid on construction materials for certain new or expanding manufacturing facilities.
Oklahoma Department of Commerce
Investment/New Jobs Tax Credit Package

This tax credit provides growing manufacturers with a substantial 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.
Oklahoma Department of Commerce
Small Employer Quality Jobs Program

This program provides quarterly incentive payments to a qualifying small employer (500 employees or less). Quarterly payments may be as much as 5% of new taxable payroll for up to 7 years.
Oklahoma Tax Commission
Oklahoma Manufacturers Sales Tax Exemption

Oklahoma has a comprehensive sales tax exemption for manufacturers who obtain a Manufacturer's Sales Tax Exemption Permit from the Oklahoma Tax Commission. The permit must be renewed every three years.

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Get the Tax Money You're Owed in Minutes

Subcity empowers small businesses, CPAs, and finance professionals to identify and apply for economic incentives and tax credits. Each year, over $100 billion is allocated for incentives across local, state, and federal programs in the U.S. Unfortunately, a significant portion of this money goes unclaimed or to large corporations with teams of tax attorneys and legal experts.

Subcity utilizes a comprehensive database of incentives to connect small businesses with the programs that were designed to help them create jobs, invest in their communities, and grow their business. Subcity charges a 10-20% fee for the programs they successfully secure, ensuring zero risk for clients as payment is contingent on results. Subcity is on a mission to democratize access to capital for America’s small businesses and has already delivered tens of millions of dollars in tax incentives for clients across the country.

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