Oklahoma HB2366 creates an income tax credit for employees in the biomanufacturing sector.
Oklahoma HB2366 establishes an income tax credit for qualified employees in the biomanufacturing sector. The credit is up to $5,000 per tax year for a maximum of five years. Eligible employees must have a degree from a qualified program or be licensed as a Professional Engineer. The credit can be claimed in nonconsecutive years and can be carried over to subsequent years if unused. The credit cannot reduce the tax liability below zero. The act becomes effective November 1, 2025.
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