Oklahoma Department of Revenue, Oklahoma Tax

Oklahoma Business Corporate Tax, Oklahoma Personal Income Tax, Oklahoma Sales Tax Rates

What is the Oklahoma Corporate net income tax rate(s)?

6%.   Plus an Oklahoma Business Activity Tax of $1.25 for every $1000.00 of assets in Oklahoma or $25.00, whichever is greater.

What is the Oklahoma personal net income tax rate(s)?

What is the average Oklahoma sales tax rate(s)?

8.44%. The State has a 4.5% tax, but the average local tax is 3.94% making a total of 8.44%.

Are there standard deductions?

Single:  $4,250.00
Joint:  $8,500.00

Are there personal exemptions?

Single:   $1,000.00
Dependants:   $1,000.00

What forms do you file for your Oklahoma taxes?

C corporations:   Form 512
S Corporations:   Form 512S
Individual:   Form 511

Estimated tax payments?

Form OW-8-ES for personal payments. Oklahoma follows the IRS standards for estimated payments. If you will owe $500.00 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won't make as much in the current year.

Oklahoma Department of Revenue:

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