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Last Updated December 31, 2021

Program Overview

Category:

Financial Incentive

State:

Oklahoma

Incentive Type:

Corporate Tax Credit

Administrator:

N/A

Start Date:

N/A

Expiration Date:

12/31/2027

Web Site:

N/A

Applicable Sectors:

Commercial

Eligible Renewable/Other Technologies:

Passenger Electric Vehicles, Medium-Duty Electric Vehicles, Heavy-Duty Electric Vehicles

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, 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.