State Tax Credit Investments
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.
Oklahoma Historic Tax Credit Summary
- Applicable against the Oklahoma income tax liability or Premium Tax liability.
- May offset 100% of a taxpayer’s liability.
- Excess credits carry forward for 10 years.
- Credits purchased in one year increments.
- Credits are not recapturable for the buyer/transferee.