Oklahoma § 68-6510

§ 68-6510.

Electric vehicle tax credit.

Oklahoma Statutes - Title 68. Revenue and Taxation

A. As used in this section, "qualified electric vehicle" means

a 100%-electric or plug-in hybrid electric motor vehicle with the

following characteristics:

1. A 100%-electric motor vehicle originally equipped so that

the vehicle:

a.

draws propulsion energy solely from a battery with at

least twenty (20) kilowatt hours of capacity, which

can be recharged from any external source of

electricity,

b.

is manufactured primarily for use on public streets,

roads and highways, but does not include a vehicle

operated exclusively on a rail or rails, and

c.

which has at least four wheels;

2. A plug-in hybrid electric motor vehicle which is originally

equipped so that the vehicle:

a.

draws propulsion energy from:

(1) an internal combustion engine, and

(2) a battery with at least five (5) kilowatt hours

of capacity, which can be recharged from an

external source of electricity,

b.

is manufactured primarily for use on public streets,

roads and highways, but does not include a vehicle

operated exclusively on a rail or rails, and

c.

which has at least four wheels;

3. For purposes of this paragraph, the term "qualified 100%electric and plug-in hybrid electric motor vehicle" does not include

a vehicle that is manufactured primarily for off-road use, such as

primarily for use on a golf course, and that has a maximum speed of

thirty (30) miles per hour or less.

B. For taxable years beginning after December 31, 2023, there

shall be allowed as a credit against the tax imposed pursuant to

Section 2355 of Title 68 of the Oklahoma Statutes in the amount of

electric vehicle charging taxes paid by an individual or lawfully

recognized entity pursuant to Section 4 of this act.

C. With respect to a natural person filing either a single

status income tax return or persons filing a married status joint

return, the amount of the credit otherwise authorized by this

section shall not exceed the total amount of registration fees for

electric vehicles paid by the person or persons during the taxable

year for which the tax credit is claimed.

D. With respect to a taxpayer that is not a natural person, the

amount of the credit otherwise authorized by this section shall not

exceed the total amount of registration fees for electric vehicles

paid by the taxpayer during the taxable year for which the tax

credit is claimed.

E. The credit authorized by the provisions of this section

shall not be used to reduce the tax liability to less than zero (0).

Oklahoma Statutes - Title 68. Revenue and Taxation

F. To the extent not used, the credit authorized by the

provisions of this section may be carried over, in order, to each of

the five (5) succeeding taxable years.

Added by Laws 2021, c. 157, § 10, eff. Nov. 1, 2021.