Okla. Admin. Code § 710:85-11-4

Current through Vol. 42, No. 4, November 1, 2024

Section 710:85-11-4 - Procedure for filing report, review, determination

(a)Contents of report. Beginning with the first complete calendar quarter following the start date designated by the Department the establishment shall file with the Oklahoma Tax Commission a report of jobs and gross taxable payroll paid during quarter. The report, on forms prescribed by the Commission, shall include:

(1) Name of qualified establishment;

(2) Identification number of qualified establishment;

(3) Period for which report is filed;

(4) Actual number of new direct jobs during period of report;

(5) Individual gross taxable payroll for each new direct job for the establishment for the report period; and

(6) Other information required to be submitted by the Commission.

(b)Reports to constitute a claim. A report filed pursuant to this Section shall constitute a claim for incentive payment. The establishment must continue to file quarterly reports for the ten (10) year incentive period or until it is no longer qualified to receive incentive payments.

(c)Commission action upon receipt of reports. Upon receipt of the reports for the initial calendar quarter and for each subsequent calendar quarter, the Commission shall make the following determinations:

(1) During the initial twelve (12) quarters, the establishment paid individuals in new direct jobs an average annualized wage that equaled or exceeded the requirements of §3914(C); or

(2) After the establishment has created ten (10) new direct jobs, it paid individuals in new direct jobs an average annualized wage that equaled or exceeded the requirements of §3914(C), and maintained the minimum number of new direct jobs.

Okla. Admin. Code § 710:85-11-4

Added at 27 Ok Reg 2357, eff 7-11-10