Sullivan Introduces Tax Break for Oklahoma Businesses

Washington – Congressman John Sullivan has introduced, H.R. 1039, legislation which makes permanent certain tax incentives for businesses located on former Indian lands and for companies who hire or increase the wages of enrolled Indian tribal members. Over two-thirds of the land in Oklahoma qualifies for the relief. Original co-sponsors of the legislation include the entire Oklahoma Congressional Delegation: Reps. Dan Boren, Tom Cole, Frank Lucas and James Lankford.

Statement from Congressman John Sullivan:

“The Indian lands tax credits are extremely beneficial to economic development in Oklahoma –these substantial tax incentives not only create jobs, but also improve the quality of life across our state. Any business that chooses to operate on federally recognized Indian lands is eligible to receive this credit, since two-thirds of Oklahoma’s land meets this criteria, it provides an economic boom to our entire state. Making these tax incentives permanent will not only help to attract new business, but will also allow our existing businesses to plan for the future without the uncertainty of these incentives disappearing year to year.”

Statement from Congressman Dan Boren:

“The Indian lands and Indian employment tax credits are two of the most effective tools at our disposal for attracting new businesses and jobs to Oklahoma and growing the state’s economy,” Boren said. “Although we have had success with year-to-year extensions, I am pleased to once again work with Congressman Sullivan on legislation to make these credits permanent. With this legislation, we can provide Oklahoma businesses with peace of mind that these credits will be there for years to come.”

Statement from Congressman Tom Cole:

“Economic development in Indian Country has long lagged behind development in other parts of the country. As unemployment remains high, the Indian Lands Tax Credit is an important tool to create jobs in Oklahoma and drive much-needed growth to start addressing the economic needs of Indian country.”

Statement from Congressman Frank Lucas:

“This permanent extension of these Indian land tax credits are a vital tool for economic development, and will be a great benefit for the state of Oklahoma, and I encourage my colleagues to support it.”

Statement from Congressman James Lankford:

“Letting any business keep more of their earnings will allow them to reinvest more money in their company and hire more workers. This program has proved successful in the past and a permanent extension of these credits provides for long-term planning that is essential for future economic growth.”

Updated 03-14-2011

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