See Oklahoma Income Tax Form 511CR.

Credit for qualified electric vehicle property

Prior to January 1, 2010, Oklahoma provides a one-time state income tax credit for qualified OEM electric vehicles. The credit does not apply to vehicles known as "golf carts," "go-carts," or other motor vehicles which are manufactured principally for use off the streets and highways. (See Oklahoma Tax Commission Rule 710:50-15-81.)

For a qualified electric vehicle propelled by electricity only, the basis for the 50% credit is the full purchase price of the vehicle.

For vehicles also equipped with an internal combustion engine, such as a hybrid-electric vehicle, the basis for the credit is limited to the portion of the motor vehicle which is attributable to the propulsion of the vehicle by electricity.

If the portion of the vehicle attributable to electric propulsion cannot be determined, the state will allow a capped tax credit of 10% of the total vehicle cost, or $1,500, whichever is less, as long as a tax credit has not been previously taken on the vehicle.

(Reference 2008 Oklahoma Senate Bill 1558, amending Oklahoma Statutes Section 68-2357.22 and extending credit from January 1, 2009 to January 1, 2010.)