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As of 2021, the rate is 6%. For tax years beginning on January 1, 2022, the corporate income tax rate will reduce to 4%. Unlike other types of taxes with graduated rates, Oklahoma's corporate income tax is a flat rate that applies to all corporate income.

If you earn income in one state while living in another, you should expect to file a tax return for the state where you are living (your “resident” state). You may also be required to file a state tax return where your employer is located or any state where you have a source of income.

You can obtain this form from our website at tax.ok.gov.

A Form 500-B must be completed for each nonresident member to whom the pass-through entity has made an Oklahoma taxable distribution and paid withholding to Oklahoma. Form 500-B should not report withhold- ing paid by sources other than the pass-through entity.

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 ...

Oklahoma allows for a subtraction on your state return for retirement benefits up to $10,000 but not more than what was included in your federal adjusted gross income. These retirement benefits must have been received from the following and satisfy the requirements of the IRC: Employee pension benefit plan.

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. The taxable year and method of accounting shall be the same as the taxable year and method of accounting used for federal income tax purposes.

A completed return must be filed within nine (9) months after the date of the decedent's death or interest will accrue. When To Pay: Estate tax is due and payable nine (9) months after the date of death. If not paid interest will begin accruing after due date.