New Market Tax Credits-REI (Oklahoma)
Last modified on February 12, 2015.
|Applies to States or Provinces||Oklahoma|
|Name||New Market Tax Credits-REI (Oklahoma)|
|Policy Category||Financial Incentive|
|Policy Type||Corporate Tax Incentive|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Solar Photovoltaics, Wind energy|
|Implementing Sector|| State/Province
|Program Administrator||Oklahoma Department of Commerce|
|Primary Website|| http://okcommerce.gov/new-and-existing-business/incentives/
| Last Substantive Modification
The New Market Tax Credits-REI is a tool to meet the challenge of economic development in low-income rural and urban communities. This program Objective offers investors an attractive tax benefit through a 39% federal income tax credit for investments. To be eligible, businesses must derive at least 50% of their gross income from a Qualified Low-Income Community.