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Oklahoma

Oklahoma

Incentives/Policies for Renewables & Efficiency

Printable Version
Energy Efficient Residential Construction Tax Credit (Corporate)   

Last DSIRE Review: 08/12/2014
Program Overview:
State: Oklahoma
Incentive Type: Corporate Tax Credit
Eligible Efficiency Technologies: Furnaces , Heat pumps, Central Air conditioners, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Doors, Roofs, Comprehensive Measures/Whole Building
Applicable Sectors: Residential, Construction
Amount:Amount of eligible expenditures
Maximum Incentive:$4,000
Equipment Requirements:Property must be less than 2,000 square feet.
Carryover Provisions:Can carry over unused credit for up to 4 years
Start Date:11/01/2005
Authority 1:
Date Enacted:
Date Effective:
68 O.S. ยง 2357.46
06/08/2005 (subsequently amended)
11/1/2005
Summary:

Oklahoma allows a contractor who is the primary builder of an energy efficient home or manufactured home substantially completed after December 31, 2005, to claim an income tax credit beginning in tax year 2006. The home must be under 2,000 square feet. Improvements eligible for the credit include energy efficient heating and cooling systems, windows, doors, roofs, and insulation to minimize heat loss and gain.

The contractor can take a tax credit for the amount of the eligible expenditures, not to exceed $2,000 for a home that is between 20% and 39% above the International Energy Conservation Code 2003 or $4,000 for a home that is 40% or above of the Code. In addition, the heating and cooling efficiencies must meet the minimum requirements established by the National Appliance Energy Conservation Act of 1987 and building envelope improvements must account for a certain percentage of the reduced annual heating and cooling energy consumption levels.

The contractor can carryover any unused portion of the tax credit for up to 4 subsequent years. As the result of a 2006 amendment, credits earned after August 25, 2006, are freely transferable to any taxpayer upon the filing of a transfer agreement.


 
Contact:
  Carolyn Sullivan
Oklahoma Department of Commerce
State Energy Office
900 North Stiles
P.O. Box 26980
Oklahoma City, OK 73126-0980
Phone: (405) 815-5347
E-Mail: carolyn_sullivan@okcommerce.gov
Web Site: http://www.okcommerce.gov/energy
 
  Information Specialist - OTC
Oklahoma Tax Commission
Post Office Box 26800
Oklahoma City, OK 73126-0800
Phone: (405) 521-3160
E-Mail: helpmaster@mailhost.oktax.state.ok.us
Web Site: http://www.oktax.state.ok.us
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.