POPULATION: 3,579,212 (2006)

LABOR FORCE: 1,735,700 (July 2007)

TRADITIONAL INDUSTRIES: Agriculture, mining

EXPANDING INDUSTRIES: Communications, business services, aircraft and parts, oil and gas extraction, construction, fabricated metal products

COLLEGE GRADUATES: (Age 25 and over) 22.4%

BASIC BUSINESS TAXES:
Corporate Income Tax: 6 percent of federal taxable income earned in Oklahoma

Corporate Franchise Tax: $1.25 per $1,000 or fraction thereof of capital used, invested, or employed in Oklahoma; minimum tax, $10; maximum, $20,000

Sales and Use Tax: 4.5 percent state rate; most cities levy an additional tax of 1 to 4.25 percent; counties may levy an additional tax up to 2 percent.

Property Tax: Levied on both real and tangible personal property at the county level. The effective rate, exercised as a percentage of fair cash value, ranges from less than 1 percent to 1.8 percent.

BUSINESS INCENTIVES:
 Oklahoma Quality Jobs Program (“cash-back” incentive for major manufacturing and service employers with rebates up to 5 percent of taxable wages for up to 10 years); rebates increase up to 6 percent for existing Quality Jobs companies that create jobs paying more than 150 percent of company’s current average wage
American Indian Land Usage (accelerated depreciation for federal tax purposes and state tax savings); ends 12/31/07 unless Congress extends deadline
Oklahoma Small Employers Quality Jobs Program (“cash-back” incentive payments for firms with 90 employees or less)
New Markets Tax Credit (federal income tax credits for firms investing in underserved low-income communities)
Industrial Development Bond Program
Bid Assistance Centers (assistance in securing federal government contracts)
Oklahoma Center for the Advancement of Science and Technology (tech-transfer programs)
Oklahoma Capital Investment Board (venture-capital portfolio program)
Capital Access Program
Tribal Financing
Export Finance Program
Customized Job Training
Freeport Law
Industrial Access Road Assistance
Foreign-Trade Zones
Local Finance & Build-to-Suit Programs
Tax Credits, Exemptions, and Refunds
Five-Year Property Tax Abatement
Sales Tax Refund on Construction Materials