Everybody's talkin' jobs
Just in time for President Obama's speech on jobs, a group of Oklahoma lawmakers spent five hours discussing incentives the state offers to companies that reportedly create jobs in the Sooner State. The discussion was one of many that a task force on tax credits will have before the next legislative session. Here's a recap of live tweets from the meeting, via Capitol reporters and bloggers.
During the morning session, the tax credits task force discussed Oklahoma's Investment/New jobs tax credit. Here's some background on that program and also tax credits in general.
OETA | Oklahoma News ReportOver the past five years legislators have trimmed more than one and a half billion dollars from the budget of state government, a third of that in just this year. As a result funding for public education, roads and bridges and state agencies have all been slashed.
Investment/New Jobs Tax Credit » Site-Selection » Oklahoma Department of CommerceInvestment/New Jobs Tax Credits provide growing manufacturers a significant tax credit based on either an investment in depreciable property OR on the addition of full-time-equivalent employees engaged in manufacturing, processing, or aircraft maintenance. Tax credits accrue and may begin to be claimed on July 1, 2012.Reporters and bloggers from Oklahoma Watch, NPR, eCapitol, the Journal Record, the Journal Record Legislative Report and Oklahoma Watchdog live tweeted throughout the morning and afternoon sessions. Oklahoma Policy Institute and the Oklahoma Education Association also live tweeted.
That seems problematic. RT @jrmscottcarter: State is using 1980s definition of a full time employee, tax commission official says. #oktax
