Oklahoma § 68-3903 - Definitions

§ 68-3903. Definitions

As used in the Small Employer Quality Jobs Incentive Act:

1. "Basic industry" means a basic industry as defined under the

Oklahoma Quality Jobs Program Act in divisions (1) through (9) of

subparagraph a of paragraph 1 of subsection A of Section 3603 of

this title, excluding those activities described in division (10) of

subparagraph a of paragraph 1 of subsection A of Section 3603 of

this title. Provided, for the purposes of the Small Employer

Quality Jobs Incentive Act, the determination required by

subdivision (b) of division (7) or division (8) of subparagraph a of

paragraph 1 of subsection A of Section 3603 of this title shall be

made by the Oklahoma Department of Commerce and not the Incentive

Approval Committee;

2. "Establishment" means any business, no matter what legal

form, including, but not limited to, a sole proprietorship,

partnership, corporation, or limited liability corporation;

3. "Estimated direct state benefits" means the tax revenues

projected by the Oklahoma Department of Commerce to accrue to the

state as a result of new direct jobs;

Oklahoma Statutes - Title 68. Revenue and Taxation

4. "Estimated direct state costs" means the costs projected by

the Department to accrue to the state as a result of new direct

jobs. Such costs shall include, but not be limited to:

a.

the costs of education of new state resident children,

b.

the costs of public health, public safety and

transportation services to be provided to new state

residents,

c.

the costs of other state services to be provided to

new state residents, and

d.

the costs of other state services;

5. "Estimated net direct state benefits" means the estimated

direct state benefits less the estimated direct state costs;

6. "Full-time employment" means employment of persons residing

in this state and working for thirty (30) hours per week or more in

this state, which has a minimum six-month duration during any

twelve-month period;

7. "Gross taxable payroll" means wages, as defined in Section

2385.1 of this title, for new direct jobs;

8. "Net benefit rate" means the estimated net direct state

benefits computed as a percentage of gross payroll; provided:

a.

the net benefit rate may be variable and shall not

exceed five percent (5%), and

b.

in no event shall incentive payments, cumulatively,

exceed the estimated net direct state benefits; and

9. "New direct job" means full-time employment which did not

exist in this state prior to the date of approval, by the Oklahoma

Department of Commerce, of an application made pursuant to the Small

Employer Quality Jobs Incentive Act. A job shall be deemed to exist

in this state prior to approval of an application if the activities

and functions for which the particular job exists have been ongoing

at any time within six (6) months prior to such approval.

Added by Laws 1997, c. 419, § 3, eff. Jan. 1, 1998. Amended by Laws

2002, c. 308, § 2, eff. July 1, 2002; Laws 2003, c. 377, § 3, emerg.

eff. June 4, 2003; Laws 2005, c. 352, § 2, eff. July 1, 2005; Laws

2006, c. 281, § 34, eff. July 1, 2006; Laws 2013, c. 227, § 27, eff.

Nov. 1, 2013; Laws 2014, c. 128, § 1, eff. July 1, 2014.