Oklahoma Administrative Code
Title 150 - Oklahoma Department of Commerce
Chapter 165 - Oklahoma Tourism Development Act Tax Credit Program
Section 150:165-1-4 - Oklahoma Tourism Development Act Program Application

Universal Citation: OK Admin Code 150:165-1-4

Current through Vol. 42, No. 1, September 16, 2024

(a) An eligible company wishing to participate in the Oklahoma Tourism Development Act Program shall file an application with the Director as prescribed by the Department either through digital upload or through a digital file delivered on a thumb drive to the Office of the Department located in Oklahoma City, Oklahoma. If the application does not contain all information and materials identified below, Director may request supplemental information. Failure by an eligible company to supply requested supplemental information within sixty (60) days of request, shall result in denial of the application. If the application is denied under this Part, then the Eligible Company may not submit another application under the Act within one (1) year following the denial.

(b) The following information and materials shall be submitted as a part of the application:

(1) The following information pertaining to the Eligible Company:
(A) Name;

(B) Address;

(C) Phone;

(D) Email;

(E) Contact Person;

(F) Federal Employer Tax Identification Number;

(G) Form of organization;

(H) Previous participation of eligible company in all Oklahoma tax incentive programs;

(I) Ownership and business structure;

(J) Bankruptcy history; and

(K) Governmental denial, suspension, or revocation of licenses;

(2) The following information pertaining to the Tourism Attraction Project:
(A) Location of tourism attraction project, including a description and boundary of the area encompassing the Entertainment District, if applicable;

(B) Description of the Tourism Attraction Project;

(C) Estimated Project Costs;

(D) Proposed sources of financing;

(E) The total number of jobs projected upon completion of and within two (2) years after completion of the Tourism Attraction Project, which may include the number of jobs by the eligible company and any tenants of the Tourism Attraction Project;

(F) Five (5) year history of attendance at Tourism Attraction Project, if an expansion;

(G) Ten (10) year attendance projections, both in-state and out-of-state visitors;

(H) Months of operation of the Tourism Attraction Project or components thereof;

(I) Proposed marketing plans and budget to be used during the first five (5) year period that the Tourism Attraction Project is operating, including specific information regarding out-of-state visitor advertising;

(J) Value of Oklahoma tangible property, which includes both real and personal property, before and after completion of the Tourism Attraction Project;

(K) Ten (10) year estimated payroll of the Tourism Attraction Project, which may include any tenants of the Tourism Attraction Project;

(L) Estimated State sales tax liability of Tourism Attraction Project for the first ten (10) fiscal years of operation; and

(M) Estimated ten (10) year additional revenue generation for the community;

(3) Provide the name, phone number, email address, and contact person for the following service providers to the Tourism Attraction Project:
(A) Contractor;

(B) Attorney;

(C) Bank; and

(D) Accountant.

Disclaimer: These regulations may not be the most recent version. Oklahoma may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.