Erase In Legal Oklahoma Startup For S-Corporation Forms For Free

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 ...

To form an Oklahoma S corp, you'll need to ensure your company has an Oklahoma formal business structure (LLC or corporation), and then you can elect S corp tax designation. If you've already formed an LLC or corporation, file Form 2553 with the Internal Revenue Service (IRS) to designate S corp taxation status.

Each partner having Oklahoma source income sufficient to make a return, shall make such return as required by law. Partnerships filing Federal Form 1065-B will file Form 514.

Form 512-FT is completed when a consolidated income tax return is filed and more than one corporation within the con- solidation is electing to file franchise tax with the income tax return. If there are more than three corporations making this election, use Form 512-FT-SUP to enter the additional corporations.

File as Oklahoma married filing separate. The Oklahoma resident, filing a joint federal return with a nonresident civilian spouse, may file an Oklahoma return as married filing separate. The resident will file on Form 511 using the married filing separate rates and reporting only his/her income and deductions.

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.