Oklahoma Low Income Housing Tax Credit

Oklahoma Low Income Housing Tax Credit Summary

  • Credits offset 100% income taxes for any taxpayer and insurance gross premiums taxes.
  • May be carried forward up to five years
  • Credits are usable as an offset against any existing retaliatory taxes. ¬†Additionally, an insurance company using these credits to offset premium taxes will not trigger additional retaliatory taxes.
  • Credits are subject to a ratable recapture over 10 years following the federal rules.
  • The credits are allocable through any entity taxable as a partnership.