Oklahoma

The Oklahoma Tax Commission manages the taxes for the state. These taxes include individual and business income taxes, sales and use taxes, employee withholding taxes, and various other taxes.

The state general sales and use tax rate is 4.5%. Some cities and counties also impose an additional sales and use tax.

Individual income tax is reported on Form 511 for residents, and Form 511 NR for non-residents or part year residents. The returns are due on or before April 15. If the 15th falls on a weekend or holiday, taxpayers have until the next business day to mail the return. The tax rates for individual income taxes range from 0.5% to 5.65%.

Corporations report their income tax on Form 512, while S corporations use Form 512 S. The 512 is due the same date as the corporation’s federal return, and the 512 S is due by the fifteenth day of the third month following the end of the S corporation‘s fiscal year. Partnerships report income using Form 514, with a due date of the fifteenth day of the fourth month after fiscal year-end.

Oklahoma imposes other taxes such as the withholding tax, property tax, lodging tax, alcohol and tobacco tax, tourism tax, motor fuel tax, and motor vehicle excise tax.

For additional information on Oklahoma taxes or to find the correct tax forms, visit the Tax Commission’s website at www.tax.ok.gov.

If you are looking for a CPA, Accounting Firm, or Financial Advisor to assist you with your Oklahoma tax reporting, bookkeeping, or general accounting needs, you have come to the right place! Check out the CPA Search feature on this website.