POPULATION: 3,687,050 (2009 estimate)
LABOR FORCE: 1,756,679 (Aug. 2010)
RIGHT TO WORK: Yes
TRADITIONAL INDUSTRIES: Manufacturing, mining
EXPANDING INDUSTRIES: Communications, corporate services,
aircraft and parts, oil and gas
extraction, construction, fabricated
metal products, alternative
energy (wind and solar), biosciences
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; the
average city sales tax rate is 2.1
percent, and the average county
sales tax rate is 1.1 percent.
Property Tax: Levied on both real
and tangible personal property at
the county level; for all communities
in Oklahoma, the effective
property tax rate averages about
1 percent for real and personal
property, exercised as a percentage
of fair cash value.
BUSINESS INCENTIVES
Oklahoma Quality Jobs Program
("cash-back" incentive for qualifying
manufacturing and service
employers with rebates ranging
from 5 to 6 percent)
21st Century Quality Jobs
Program
Quality Jobs + Investment Tax
Credit incentive
Oklahoma Small Employers
Quality Jobs Program ("cashback"
incentive program)
American Indian Land Usage
New Markets Tax Credit (federal
income tax credits)
Oklahoma Finance Authorities:
• Pooled Business Finance
Program
• Tax-Exempt Manufacturing
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 and build-to-suit
programs (tax credits, exemptions,
and refunds)
Five-year property tax abatement
Sales tax refund on construction
materials
