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If a taxpayer computes the franchise tax due and determines that it amounts to $250.00 or less, the taxpayer is exempt from the tax and a \u201cno tax due\u201d Form 200 is required to be filed.
A Form 500-B must be completed for each nonresident member to whom the pass-through entity has made an Oklahoma distribution. Complete all lines of Parts A, B and C; indicating the total amount of Oklahoma taxable income distributed, and the amount of tax withheld for each nonresident member for the tax year.
OTC Form 500-A "Information Return - Production Payments" - Oklahoma.
\u2022 Form 511: Oklahoma Resident Income Tax Return Form.
File Form 512-E with the Oklahoma State Tax Commission Form 512-E \u2013 \u201cReturn of Organization Exempt from Income Tax\u201d can be filed online or by mail. There is no fee for filing the form. Online: Form 512-E can be filed with the Oklahoma State Tax Commission's electronic portal OKTAP.
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E-file your Oklahoma personal income tax return online with 1040.com. These 2021 forms and more are available: Oklahoma Form 511 \u2013 Personal Income Tax Return for Residents. Oklahoma Form 511 Schedule B or 511NR Schedule A \u2013 Additions to Federal AGI.
The default calculation for Oklahoma percentage depletion is: Multiply gross income from the property by 22%.
Form OK-W-4 is completed so you can have as much \u201ctake-home pay\u201d as possible without an income tax liability due to the state of Oklahoma when you file your return. Deductions and exemptions reduce the amount of your taxable income.
Oklahoma allows the following Subtractions from Income: Interest on U.S. Government Obligations. Interest on US bonds reported on the federal return may be subtracted from the Oklahoma return. Social Security. Social Security benefits that are included in the Federal AGI shall be subtracted.
All regular corporations and subchapter-S corporations are required to file Form 200, Annual Franchise Tax Return, and pay franchise tax.

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