Clean-Burning Motor Vehicle Fuel Property Tax Credit - Personal

Summary

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 which is directly related to compression and delivery of natural gas from a private home or residence. The incentive for these credits are a per-location credit of the lesser of 50% of the cost or $2,500.