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This version of the form is not currently in use and is provided for reference only. Download this version of
OTC Form 506
for the current year.
OTC Form 506 Investment / New Jobs Credit - Oklahoma
What Is OTC Form 506?
This is a legal form that was released by the Oklahoma Tax Commission - a government authority operating within Oklahoma. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is OTC Form 506?
A: OTC Form 506 is a form required by the Oklahoma Tax Commission for claiming the Investment/New Jobs Credit.
Q: What is the Investment/New Jobs Credit?
A: The Investment/New Jobs Credit is a tax credit offered by the state of Oklahoma to incentivize businesses to create jobs and make new investments in the state.
Q: Who is eligible to claim the Investment/New Jobs Credit?
A: Businesses that make qualified investments and create new jobs in Oklahoma are generally eligible to claim the Investment/New Jobs Credit.
Q: How do I claim the Investment/New Jobs Credit?
A: To claim the credit, businesses need to complete and submit OTC Form 506 to the Oklahoma Tax Commission.
Q: What expenses qualify for the Investment/New Jobs Credit?
A: Qualified investments include tangible personal property, machinery, and certain infrastructure expenses. New jobs created in Oklahoma also qualify.
Q: How much is the Investment/New Jobs Credit?
A: The amount of the credit depends on several factors, including the amount of qualified investments made and the number of new jobs created.
Q: Is there a deadline for claiming the Investment/New Jobs Credit?
A: Yes, businesses must file OTC Form 506 within three years from the end of the tax year in which the investment and job creation occurred.
Form Details:
- Released on January 1, 2017;
- The latest edition provided by the Oklahoma Tax Commission;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of OTC Form 506 by clicking the link below or browse more documents and templates provided by the Oklahoma Tax Commission.
Download OTC Form 506 Investment / New Jobs Credit - Oklahoma
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