The state of Oklahoma has more than 400 tax breaks and subsidies on its books. Many apply to broad categories of taxpayers. Lawmakers interested in reforming the tax code tend to focus mainly on incentives that subsidize specific businesses and industries. The 24 subsidies on this list are among them. Click on a column heading to re-order table.
| Incentive | Type | FY 2014 Cost | FY 2010 Cost |
|---|---|---|---|
| Horizontally drilled wells | Gross production tax credit | $362,957,000 | $83,383,000 |
| Investment, new jobs | Income tax credit | $94,792,000 | $28,497,000 |
| Quality Jobs Program | Direct payments to manufacturers | $82,333,958 | $54,011,640 |
| Wind power installations | Property tax exemption, income tax credit | $50,181,000 | $7,192,000 |
| Manufacturer property tax exemption | Reimbursement to counties, schools | $32,356,276 | $27,700,000 |
| Production enhancement wells | Gross production tax credit | $24,051,000 | $2,838,000 |
| Insurance industry “home offices” | Insurance premium tax credit | $18,831,786 | $14,673,798 |
| Ultra-deep wells | Gross production tax credit | $18,096,000 | $25,000,000 |
| Small business venture capital companies | Income, insurance premium, gross production, petroleum excise tax credits | $13,204,035 | $67,654,796 |
| Economically at-risk wells | Gross production tax credit | $10,661,000 | $1,421,000 |
| Property, casualty insurer guaranty fund | Insurance premium tax credit | $7,631,000 | $9,536,344 |
| Deep wells | Gross production tax credit | $8,313,000 | $376,000 |
| 3-D seismic wells | Gross production tax credit | $7,270,000 | $76,000 |
| Historic building rehabilitation | Income tax, insurance premium tax credits | $5,032,647 | $9,847,099 |
| Oklahoma coal production | Income. insurance premium tax credits | $5,029,957 | $9,891,232 |
| Oklahoma-based film, music | Direct rebates to producers | $5,000,000 | $5,000,000 |
| Reestablished production wells | Gross production tax credit | $4,242,000 | $127,000 |
| Energy-efficient home contractors | Income tax credit | $3,714,000 | $3,776,000 |
| Aerospace industry employment | Income tax credit | $2,497,000 | $0 |
| Life, health insurer guaranty fund | Insurance premium tax credit | $1,221,408 | $1,392,362 |
| Oklahoma Capital Investment Board | Income, insurance premium tax credits | $881,725 | $0 |
| New discovery wells | Gross production tax credit | $573,000 | $6,000 |
| Enhanced oil recovery | Gross production, petroleum excise tax exemptions | $376,000 | $2,030,000 |
| Railroad rehabilitation | Income tax credit | $352,000 | $1,130,000 |
| Total | $759,597,792 | $355,559,271 |
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