Venture capital tax credits are tax breaks granted to specialty investment companies in exchange for them investing in certain types of new or expanding Oklahoma businesses.
The specialty companies — including Bank of Oklahoma subsidiary Cottonwood Valley Ventures Inc. — receive 20 percent of their investments back in the form of tax credits that can be used to avoid paying an identical amount in taxes.
The tax credits are transferrable. That means the specialty companies can sell or give them to individuals or companies that can use them to lower or eliminate their tax liabilities.
To read the full, original article click on this link: Oklahoma venture capital tax credits explained | NewsOK.com
