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  • Oklahoma tax credit info.

    Kudos to our member cngdriver for the following info.
    Please post any additional information and I will update this top post.

    In OK, we also get a 50% tax credit for the cost of installing a home refueling unit. So, if I pay $7200 for a FuelMaker FMQ-2-36, I would get $3600 from the state as well as the $1000 Federal tax credit - reducing my actual cost of the FuelMaker to $2600. That tax credit falls under the "infrastructure" credit explained at the bottom.
    $3415 Oklahoma tax credit for the Civic GX: http://www.eere.energy.gov/afdc/progs/view_ind_mtx.cgi?in/TAX/OK/0 The tax credit in OK is for 50% of the incremental cost for the CNG option. For the Honda Civic GX, the incremental cost for the CNG option is $6830 so 50% of that is $3415.
    OK business incentives: http://staging.okcommerce.gov/test1/dmdocuments/2007_Oklahoma_Business_Incentives_Tax_Information_ Guide_010207170.pdf (60 pages, but here is the part that deals with CNG vehicles.


    Alternative Fuel Vehicle (AFV) Tax Credit
    Prior to January 1, 2009, Oklahoma provides a one-time income tax credit for 50% of the cost of converting a vehicle to operate on an alternative fuel, or for 50% of the incremental cost of purchasing a new OEM AFV. The state also provides a tax credit for 10% of the total vehicle cost, up to $1,500, if the incremental cost of a new AFV cannot be determined or when an AFV is resold, as long as a tax credit has not been previously taken on the vehicle. The alternative fuels eligible for the credit include compressed natural gas (CNG), liquefied natural gas (LNG), liquefied petroleum gas (LPG), methanol, and electricity. This tax credit extends to low-speed electric vehicles as defined by NHTSA in 49 C.F.R. 571.500, to forklifts and other similar self-propelled vehicles, and to qualified electric and hybrid electric vehicles. For qualified electric vehicle property propelled by electricity only, the basis for the credit is the full purchase price of the vehicle. For vehicles also equipped with an internal combustion engine, the basis for the credit is limited to the portion of such motor vehicle which is attributable to the propulsion of the vehicle by electricity. (Reference Oklahoma Statutes Section 68-2357.22)


    Alternative Fuel Vehicle (AFV) and Refueling Infrastructure Tax Credit
    The state provides a tax credit for up to 50% of the cost of installing refueling infrastructure for AFVs. These tax credits may be carried forward for up to three years. The alternative fuels eligible for the credit include compressed natural gas (CNG), liquefied natural gas (LNG), liquefied petroleum gas (LPG), methanol, and electricity. (Reference Oklahoma Statutes Section 68-2357.22)

  • #2
    Re: Oklahoma tax credit info.

    I found this info here


    Oklahoma Tax Incentives

    Last updated July 2007; Source: US Department of Energy

    Biofuels Tax Exemption
    Biofuels or biodiesel produced by an individual with feedstocks grown on property owned by the same individual and used in a vehicle owned by the same individual on public roads and highways are exempt from the state motor fuel excise tax. (Reference House Bill 1916, 2007, and Oklahoma Statutes 68-500.4 and 68-500.10)

    Alternative Fuel Vehicle (AFV) Tax Credit
    Until January 1, 2009, Oklahoma provides a one-time income tax credit for 50% of the cost of converting a vehicle to operate on an alternative fuel, or for 50% of the incremental cost of purchasing a new Original Equipment Manufacturer AFV. The alternative fuels eligible for the credit include compressed natural gas (CNG), liquefied natural gas (LNG), liquefied petroleum gas (LPG), methanol, and electricity. Only the alt fuels listed in the statute apply, it does not extend to flexible fueled vehicles (vehicles that can use E85 fuel) or to vehicles converted to use E85. For qualified electric vehicle property propelled by electricity only, the basis for the credit is the full purchase price of the vehicle, but does not apply to vehicles manufactured principally for use off-street. For vehicles also equipped with an internal combustion engine, the basis for the credit is limited to the portion of such motor vehicle which is attributable to the propulsion of the vehicle by electricity. In the case where the exact cost basis of the AFV equipment installed cannot be determined, the credit is the lesser of 10% of the cost of the vehicle of $1,500.00. Any credit allowed but not used will have a three year carryover provision from the date the vehicle became an AFV, even if the AFV is resold.

    (Reference Oklahoma Statutes 68-2357.22; and OK Income Tax Form 511CR, Credit for Conversion of a Motor Vehicle to Clean Burning Fuels)

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    • #3
      Re: Oklahoma tax credit info.

      OK, I'm not very tax savvy, so don't know if this will help me or not. I'm soon to purchase a used CNG vehicle, likely from Arizona, but am also looking at one from Dallas and one from Utah.

      They are all used vehicles, so will this tax credit do anything for me, or are there other incentives?

      My primary incentive is the fuel cost for long range daily commute, but if I can get some help on tax day, I'm sure game to take advantage.

      Also, is this credit a deduction from AGI, or is it figured some other way?

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      • #4
        Re: Oklahoma tax credit info.

        Originally posted by David Burklin View Post
        ...They are all used vehicles, so will this tax credit do anything for me, or are there other incentives? ...
        Any Federal incentives only apply for when the vehicle is first put in service, so used wouldn't qualify... Looks like OK is like UT where state incentives may apply
        2008 GX (extended range, trunkless version)
        Polished Metal Metallic 2012 Civic Natural Gas
        Fuelmaker FMQ-2-36 (since 2001)
        Previously owned: 2000 GX (11 years), 1995 Bi-fuel Sonoma, 2000 Bifuel Tahoe, 2000 Bi-fuel F150

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        • #5
          Re: Oklahoma tax credit info.

          Hello new member David Burklin,

          If you're in Tulsa area, you definitely want to check out Morris Auto Sales just outside Tulsa. They are small car dealer with strictly cng vehicles. Prices are a little high but fair compared to Utah prices.

          Arizona might be good state to get one as for some reason cng losing some favor there - - little leftover bad taste of too many conversions about 5 or 6 years ago. I had chance to buy 2001 Ford Ranger pickup in Mesa, AZ that was bi-fuel with only 78K miles for $4,600 as Phoenix dealer was pulling out all the cng stuff!! Didn't have money but could kick myself now as dealer had installed new Ford OEM transmission and truck was previously owned by City of Phoenix. Oh well . . . maybe next time.

          And for OK tax purposes, yes you can take state credit of 10 percent of used cng vehicle purchase. Tulsa Gas Tech was strong advocate to OK legislature to keep that credit going . . . thanks again to Tom & Charlie Sewell.
          Last edited by cngacrossusa; 06-25-2008, 12:42 PM.

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