Oklahoma

Corporate income tax

Corporate returns are due no later than 30 days after the due date established under the Internal Revenue Code (68 O.S.; Form 512 instructions). Flat 4% corporate income tax rate. Corporations in complete liquidation file by the 15th day of the 4th month after the month of liquidation.

Extension. If no Oklahoma liability is owed, an approved federal extension automatically extends the Oklahoma due date (attach a copy)

Partnerships and S corporations

PTEs must withhold Oklahoma income tax at 4.75% on the Oklahoma share of income distributed to nonresident members (unless Form OW-15 affidavit or the entity is an electing PTE), remitted on Form WTP-10003 by the return due date including extensions; partnerships may file a composite return for nonresident partners (Form 514-PT). Elective entity-level tax under the Pass-Through Entity Tax Equity Act of 2019 (68 O.S. 2355.1P-1 et seq.): elect on Form 586 during the preceding tax year or within 2 months and 15 days after the start of the tax year, or (beginning tax year 2024) directly on a timely filed Form 514 / 512-S including extensions; tax computed on Form 587-PTE at 4.75% for individual/trust members and 4% for corporate/S-corp/partnership members; election binding until revoked.

Sales and use tax

Due date. Sales tax for a calendar month must be reported and remitted on or before the 20th day of the following month; semi-annual returns due July 20 (Jan-Jun) and January 20 (Jul-Dec). Weekend/state-holiday due dates roll to the next business day.

Filing frequency. Monthly is the standard frequency for permit holders; semi-annual filing is authorized when the tax remitted does not exceed $50 per month.

Thresholds. Semi-annual: tax remitted does not exceed $50 per month. Permit holders averaging $2,500 or more per month in tax (previous fiscal year) must file/pay electronically (EDI/OkTAP).

Prepayments. None found on the Tax Commission help-center page or in secondary guides; returns and payments are due together on the 20th.

Notes

Change effective 2024: Oklahoma franchise tax repealed (last return for tax year 2023); the $100 registered agent fee for foreign corporations survives as a stand-alone Tax Commission filing. Change effective tax year 2024: PTE election may be made directly on the return.