tax credits

Tax Credits
7:32 am
Wed April 16, 2014

Dank: Oklahoma 'Wasted' $4.2M On 'August: Osage County'

State Rep. David Dank (R-Oklahoma City) speaking to reporters Tuesday. He wants lawmakers to reconsider extending the 'Compete With Canada Film Act.'
Credit Oklahoma House of Representatives

A state lawmaker says a recently released report from the Oklahoma Department of Commerce shows film rebates recently extended by the legislature are a “bad deal.”

“I recently secured a copy of an economic impact study prepared by the Oklahoma Department of Commerce in April that makes it very clear that this film tax credit is a bad deal for Oklahomans,” state Rep. David Dank said Tuesday. The Oklahoma City Republican is an outspoken critic of the rebates, and called it a waste of taxpayer dollars.

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State Capitol
12:48 pm
Thu March 27, 2014

Senate Extends $5 Million Film Rebate Program

Credit June Campbell / Flickr Creative Commons

A $5 million annual rebate program that has been used to lure big budget films to Oklahoma would continue for another 10 years under a bill that is heading to the governor's desk.

The Senate voted 31-11 on Thursday for the Compete with Canada Film Act by Sen. Clark Jolley (R-Edmond).

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Tax Credits
1:37 pm
Tue March 18, 2014

Oklahoma Senate Panel Passes Bill For $5 Million In Film Rebates

Credit twoshortplanks / Flickr Creative Commons

A $5 million annual rebate program that has been used to attract producers of films like last year's August: Osage County to Oklahoma would continue for another ten years under a bill that has passed a Senate committee.

The Senate Finance Committee voted 7-2 for the bill on Tuesday. It now heads to the full Senate, where it is expected to pass.

But lawmakers who oppose the bill say the program is a wasteful use of tax dollars.

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Tax Cuts
2:17 pm
Thu February 6, 2014

Oklahoma City Republican Proposes Drilling Tax Fix

Credit Meredithw / Flickr Creative Commons

A Republican House member from Oklahoma City is proposing an adjustment to the state's tax on oil and natural gas production that would benefit companies that hire Oklahoma workers.

Rep. David Dank proposed a compromise on Thursday that would set the gross production tax rate for all oil and gas wells between 2 percent and 6 percent, depending on how many full-time workers each producer employs in Oklahoma.

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StateImpact Oklahoma
1:12 pm
Mon December 30, 2013

Why Oklahoma Drivers Will Pay 50 Cents More For CNG On Jan. 1

Credit Scott Lowe / Flickr Creative Commons

People who drive natural gas powered vehicles aren’t used to pain at the pump, but a federal tax credit that expires at the end of 2013 will add at least 50 cents to the price of a gallon of compressed natural gas.

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StateImpact Oklahoma
9:14 am
Thu August 22, 2013

As Oklahoma’s Oilfield Booms, State Tax Breaks Follow

Toolpusher and rig manager Darrin Silcot walks the perimeter of a Triad Energy horizontal drilling operation near Alva, Okla.
Credit Joe Wertz / StateImpact Oklahoma

The energy industry fuels Oklahoma’s economy, and the state is flush with active rigs and plentiful oil and natural gas production.

Oklahoma’s oilfields are booming, as are state tax credits for drilling, which is leading some to question whether it’s sound fiscal policy to incentivize a thriving industry.

Joe Wertz visits and oil well site to help explain differing opinions on taxpayer support for drilling.

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