| Program | Clean-Burning Motor Vehicle Fuel Property Tax Credit - Personal |
|---|---|
| Category | Financial Incentive |
| Implementing sector | State |
| Last Update | |
| State | Oklahoma |
| Budget | $30 million per year |
| Sectors | Residential |
The State of Oklahoma allows one-time income tax credits for qualified clean-burning motor fuel vehicles, including vehicles that originally run on or are converted to run on compressed natural gas, liquified natural gas, liquified petroleum gas, or a hydrogen fuel cell. These tax credits apply to tax years beginning before December 31, 2028. These credits vary based on the vehicle's weight:
Below 6,000 lbs: $5,500
6,001-10,000 lbs: $9,000
10,001-26,500 lbs: $26,000
Greater than 26,500 lbs: $100,000
The state also provides tax credits for associated property, including refueling stations for these types of vehicles. The incentive is a per-location credit of 50% of the cost or $2,500, whichever is less.
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