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Companies that pay the Oklahoma franchise tax are charged $1.25 for each $1,000 of capital the business invests or uses in the state, with a maximum tax liability of $20,000. Foreign corporations pay an additional $100 fee each year.
Late Payment Penalty: A delinquent penalty is charged when at least 90% of the tax is not paid by the deadline. The penalty amounts to 5%. A one-time 5% delinquent penalty and interest accruing at 1.25% per month will be charged on any taxes owed not paid by the original tax return due date. 3.
If any amount of tax imposed or levied by any state tax law, or any part of such amount, is not paid before such tax becomes delinquent, there shall be collected on the total delinquent tax interest at the rate of one and one-quarter percent (1 1/4%) per month from the date of the delinquency until paid.
To avoid the 20% Underpayment of Es- timated Tax Interest, timely filed estimated tax payments are required to be equal to the smaller of 70% of the current year tax liability or 100% of your prior year tax. The tax liability is the tax due less all credits except amounts paid on estimated tax and extension payments.
Oklahoma also has a 4.00 percent corporate income tax rate. Oklahoma has a 4.50 percent state sales tax rat, a max local sales tax rate of 7.00 percent, and an average combined state and local sales tax rate of 8.98 percent. Oklahomas tax system ranks 23rd overall on our 2023 State Business Tax Climate Index.

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Who Must Make Estimated Payments: You must make equal* quarterly estimated tax payments if you can reasonably expect your tax liability to exceed your withholding by $500 or more and you expect your withhold- ing to be less than the smaller of: 1. 70% of your current years tax liability, or 2.
If your Oklahoma taxable income is over:But not over:Your tax is:$10,000$ 20,000$313 - $810$20,000$30,000$813 - $1,310$30,000$40,000$1,313 - $1,810$40,000$50,000$1,813 - $2,3107 more rows
Oklahoma applies a uniform statutory interest rate of 1.25% per month to the total delinquent state tax from the date of delinquency to the date of payment.

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