The State of Oklahoma allows one-time income tax credits for qualified clean-burning motor fuel vehicle property or qualified electric motor vehicle property. These tax credits apply to tax years beginning before December 31, 2027. Some of these tax credits apply to equipment that is installed to modify a motor vehicle so that it is propelled by compressed natural gas, liquefied gas, or liquefied petroleum gas. These credits also apply to motor vehicles originally equipped to be propelled by these means. These credits are vary based on the vehicle's weight and are as follows:
Below 6,000 lbs: $5,500
6,001-10,000 lbs: $9,000
10,001-26,500 lbs: $26,000
Greater than 26,500 lbs: $50,000
Some of these credits may also apply to property, not including building and structural components, which is directly related to the delivery of clean-burning fuel and is a metered-for-fee, public access recharging system. The incentive for these credits are a per-location credit of 45% of the cost of the qualified property.
|Incentive Type:||Corporate Tax Credit|
|Eligible Renewable/Other Technologies:||
Vehicles below 6,000 lbs: $5,500
Vehicles from 6,001-10,000 lbs: $9,000
Vehicles from 10,001-26,500 lbs: $26,000
Vehicles greater than 26,500 lbs: $50,000
Property: 45% of cost
|Technologies:||Passenger Electric Vehicles, Medium-Duty Electric Vehicles, Heavy-Duty Electric Vehicles|
|Parameters:||The incentive has a maximum of $5500.00, The incentive has a minimum of $50000.00|
|Name:||Oklahoma Statutes 68-2357.22|
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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