Oklahoma provides an income tax credit of 50% of the cost of converting a vehicle to run on an alternative fuel, or for 50% of the new, OEM incremental cost for an alternative fuel vehicle. The state also provides a tax credit of 10% of the total vehicle cost, up to $1,500, on AFV resales if a tax credit has not been previously taken on the vehicle. This tax credit extends to low-speed electric vehicles as defined by NHTSA in 49 C.F.R. 571.500 and to forklifts and other similar self-propelled vehicles. The state provides a tax credit of up to 50% of the cost of installing refueling infrastructure for AFVs. These tax credits can be taken over a three-year period. The alternative fuels eligible for credit include compressed natural gas (CNG), liquefied natural gas (LNG), liquefied petroleum gas (LPG), methanol, and electricity. These credits expire January 2009. (Reference §68-2357.22)
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Oklahoma |
| Incentive Type: | Personal Tax Credit |
| Web Site: | http://www.okcleancities.org/ok_afv_taxincent.php |
| Administrator: | Association of Central Oklahoma Governments |
| Start Date: | 1/1/91 |
| Eligible Renewable/Other Technologies: |
|
| Incentive Amount: | 50% |
| Carryover Provisions: | May carry credit forward for 3 years |
| Name: | 68 Okl. St. § 2357.22 |
| Effective Date: | 1/1/91 |
| Expiration Date: | 1/1/09 |
| Name: | Yvonne Anderson |
| Organization: | Association of Central Oklahoma Governments |
| Address: |
21 E. Main Street, Suit 100 Oklahoma City OK 73104-2405 |
| Phone: | (405) 234-2264 |
| Email: | yanderson@acogok.org |
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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