Oklahoma SB688 amends ad valorem tax laws to provide exceptions to payroll requirements for certain manufacturing facilities.
Oklahoma SB688 amends the state's ad valorem tax laws to provide exceptions to payroll requirements for certain manufacturing facilities. The bill allows for a five-year exemption from ad valorem taxes for new, expanded, or acquired manufacturing facilities, provided they meet specific criteria. It includes exceptions for certain payroll requirements for facilities engaged in research and development, and those located in counties with populations under 75,000.
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