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§ 5075. State income tax exemption for sponsor

Oklahoma Statutes AnnotatedTitle 74. State GovernmentEffective: August 30, 2019

Oklahoma Statutes Annotated
Title 74. State Government (Refs & Annos)
Chapter 70. Department of Commerce (Refs & Annos)
Small Business Incubators Incentives Act
Effective: August 30, 2019
74 Okl.St.Ann. § 5075
§ 5075. State income tax exemption for sponsor
Currentness
A. For tax years ending before January 1, 2020, income earned by a sponsor from rental fees, service fees or any other form of payment for services provided to a tenant as an operator of an incubator, or for providing funding for such a facility, shall be exempt from state income tax for a period not to exceed ten (10) years from the date of the tenant's occupancy in an incubator.
B. The Oklahoma Tax Commission shall promulgate rules and regulations to implement the provisions of this section.

Credits

Laws 1987, c. 228, § 5, eff. Jan. 1, 1988; Laws 1997, c. 230, § 1, eff. Nov. 1, 1997; Laws 2019, c. 320, § 2.
74 Okl. St. Ann. § 5075, OK ST T. 74 § 5075
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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