SECTION 710:50-15-95. Poultry litter credit

(a)   General provisions. Effective for tax years beginning on or after January 1, 2005, and ending on or before December 31, 2009 an income tax credit is established for the purchase and transportation of poultry litter. The credit is five dollars ($5.00) per ton of poultry litter purchased and transported. Effective for tax years beginning on or after January 1, 2010, and ending on or before December 31, 2013 the credit is Ten Dollars ($10.00) per ton of poultry litter purchased and transported. Any unused credit may be carried over for up to five (5) years.

(b)   Qualification. In order to qualify for the credit the poultry litter must:

(1)   Be purchased from a registered, Oklahoma-based poultry operation located within an environmentally sensitive and nutrient-limited watershed;

(2)   Be used or spread in a watershed that is not environmentally sensitive and nutrient-limited; and,

(3)   Be applied by a certified poultry waste applicator and in a manner consistent with the Animal Waste Management Plan.

(c)   Limitation. The sum total of all such credits claimed cannot exceed Three Hundred Seventy-five Thousand Dollars ($375,000.00) annually, for all claimers of the credit.

(d)   Tax credit moratorium. No credit may be claimed for purchases occurring during the period of July 1, 2010 through June 30, 2012, for which the credit would otherwise be allowable. This credit may be claimed for tax year 2012 and subsequent tax years, for poultry litter purchased and transported on or after July 1, 2012.

[Source: Added at 22 Ok Reg 1532, eff 6-11-05; Amended at 26 Ok Reg 2330, eff 6-25-09; Amended at 28 Ok Reg 18, eff 8-9-10 (emergency); Amended at 28 Ok Reg 935, eff 6-1-11]