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Corporations pay franchise tax if they meet any of the following: Incorporated or organized in California. Qualified or registered to do business in California. Doing business in California, whether or not incorporated, organized, qualified, or registered under California law.

The default calculation for Oklahoma percentage depletion is: Multiply gross income from the property by 22%. Do not add percentage depletion carryover to the above calculation. Do not limit the above calculation to 65% of taxable income.

Oklahoma's apportionment formula consists of sales, payroll and property weighted equally and a throwback rule which takes out-of-state sales and lumps them into a corporation's Oklahoma income when the corporation makes sales in a state that does not tax the income.

Corporations and other for-profit businesses organized in the state are subject to the rules of taxation. While the type of business structure elected makes a difference in reporting and filing requirements at the federal level, all business entities are subject to a single franchise tax rule in the state.

If a federal consolidated return is filed, an Oklahoma consolidated return may be required or permitted under certain circumstances. ( Instructions, Form 512, Oklahoma Corporation Income Tax Return) The election to file a separate return or a consolidated return is made with the timely filing of the return.

Every corporation organized under the laws of this state, or qualified to do or doing business in Oklahoma in a corporate or organized capacity by virtue or creation of organization under the laws of this state or any other state, territory, district, or a foreign country, including associations, joint stock companies ...