Tax breaks inserted into bailout bill

TULSA, Okla. (AP) - The bailout package approved by Congress also renews expired tax breaks credited with generating millions of dollars in investments in Oklahoma.

One provision allows businesses that build or expand facilities on former American Indian lands to qualify for an accelerated depreciation schedule. It allows them to recover their costs more quickly.

A second provision provides an additional tax break to businesses that hire American Indians.

The bailout legislation also includes tax credits for wind energy and for research and development.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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