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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 725. Oklahoma Tourism and Recreation Department |
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Chapter 15. Fiscal, Personnel and General Operations |
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Subchapter 33. Oklahoma Tourism Development Act Tax Credit Program |
SECTION 725:15-33-11. Oklahoma Tourism Development Act Tax Credit Program application
Latest version.
- (a) An eligible company wishing to participate in the Oklahoma Tourism Development Act Tax Credit Program shall file three (3) copies of an application with the Director. If the application does not contain all information and materials identified below it shall be returned to the applicant and will not be considered.(b) The following information and materials shall be submitted as a part of the application:(1) Eligible company name, address, phone and telefax numbers, contact person and federal employer tax identification number;(2) Location of tourism attraction project or film or music production and development facility project;(3) Form of organization of eligible company;(4) Previous participation of eligible company in Oklahoma tax incentive programs;(5) Ownership of eligible company;(6) Bankruptcy history of eligible company;(7) Governmental denial, suspension or revocation of licenses of eligible company;(8) Attorney for eligible company, including address, phone and telefax numbers;(9) Contact person of bank for eligible company, including address, phone and telefax numbers and contact person;(10) Accountant for eligible company, including address, phone and telefax numbers;(11) Tourism attraction project and development facility project description;(12) Eligible company ownership or leasing of tourism attraction project and development facility project;(13) Estimated tourism attraction project and development facility, project costs;(14) Proposed sources of financing tourism attraction project and development facility project;(15) Contractor for tourism attraction project and development facility project, including address, phone and telefax numbers and contact person;(16) The total number of jobs projected upon completion of and within two (2) years after completion of the tourism attraction project and development facility project;(17) Five (5) year history of attendance at tourism attraction project and development facility project for an expansion;(18) Five (5) year attendance projections for tourism attraction project and development facility project;(19) Months of the year during which the tourism attraction project and development facility project is open;(20) Marketing plans and media type to be used for the tourism attraction project and development facility project, including five (5) year proposed advertising budget;(21) Value of Oklahoma tangible property before and after completion of the tourism attraction project and development facility project;(22) Ten (10) year estimate of tourism attraction project and development facility project payroll;(23) Estimated federal and state income tax liability of eligible company for first ten (10) fiscal years of the eligible company after commencement of operations of the tourism attraction project and development facility project;(24) Estimated state sales tax liability of eligible company for first ten (10) fiscal years of the eligible company after commencement of operations of the tourism attraction project or film or music production and development facility project;(25) If the tourism attraction project or film or music production and development facility project is an expansion, federal and state income tax liability of eligible company for the past three (3) fiscal years;(26) Ten (10) year estimated revenue of eligible company subject to Oklahoma income tax from the tourism attraction project and development facility project; and(27) Ten (10) year estimated additional revenue the tourism attraction project and development facility project will generate to the community.(28) Type of tax credit desired.(29) A signed and dated Certification of Application.