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Category: Oklahoma
29 Articles
Orange arrow How Do I File a Joint Tax Return if One of the Residents is an Oklahoma Nonresident Spouse?

2093 views
  The filing status for Oklahoma purposes is the same as on the federal income tax return, with one exception. This exception applies to married taxpayers who file a joint federal return where one spouse is an Oklahoma resident (either civilian or military), and the other is a nonresident civilian (n...
Posted in: STATES, Oklahoma

Orange arrow What are some of the Oklahoma Additions?

2050 views
  A1 State and Municipal Bond Interest Federal Amount column If you received income on bonds issued by any state or political subdivision thereof, exempt from federal taxation but not exempt from taxation by the laws of the State of Oklahoma, the total of such income shall be added to Federal Adjus...
Posted in: STATES, Oklahoma

Orange arrow What is the Oklahoma or Federal Government Retirement Exclusion?

2257 views
  Each individual may exclude their retirement benefits, up to $10,000, but not to exceed the amount included in the Federal Adjusted Gross Income.For any individual who claims the retirement exclusion on Schedule 511NR-B, line 5, the amount of the exclusion on this line cannot exceed $10,000 minus t...
Posted in: STATES, Oklahoma

Orange arrow Political Contributions Adjustments, Oklahoma Military & Disability deduction

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  Helpful Reminder - The Schedule 511NR-C adjustments for Political Contributions and Interest Qualifying for Exclusion are no longer available. Both were repealed. Military Pay ExclusionOklahoma residents who are members of any component of the Armed Services may exclude 100% of their active milita...
Posted in: STATES, Oklahoma

Orange arrow What is the Oklahoma Use Tax and How Do I Calculate It?

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  Every state with a sales tax has a companion tax for purchases made outside the state. In Oklahoma, that tax is called “use tax”. If you have purchased items for use in Oklahoma from retailers who do not collect Oklahoma sales tax whether by mail order, catalog, television shopping netw...
Posted in: STATES, Oklahoma

Orange arrow Oklahoma Credit for Property Tax Relief

1382 views
  Any person 65 years of age or older or any totally disabled person who is head of a household, a resident of and domiciled in this state during the entire receding calendar year, and whose gross household income for such year does not exceed $12,000, may file a claim for property tax relief on the...
Posted in: STATES, Oklahoma

Orange arrow Oklahoma Sales Tax/Relief Credit

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  If you are required to file an Oklahoma income tax return, your return must be filed by April 15th. An extension of time to file your return, including the April 20th due date for electronically filed returns, does apply to this credit. To file for sales tax relief, you must be an Oklahoma resident...
Posted in: STATES, Oklahoma

Orange arrow Oklahoma Payment Options

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  You can use OLTPRO to set up a direct debit when filing the Oklahoma state return. Here are more options for taxpayers to pay their Oklahoma taxes: Mail: Individual Income Tax Form 511-V.. If you have already filed your current year's individual income tax return, and are now wanting to send ...
Posted in: STATES, Oklahoma

Orange arrow Oklahoma Exempt Tribal Income

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  Exempt Tribal Income Federal Amount Column If the tribal member’s principal residence is on “Indian country” as defined in 18 U.S.C. Section 1151, the income earned on Indian country maybe deducted. Legally acknowledged Indian country must be within the jurisdiction of the tribe...
Posted in: STATES, Oklahoma

Orange arrow Oklahoma Clean Fuel Credit

997 views
  68 OS Sec. 2357.22 For tax years beginning before January 1, 2020, there shall be allowed a one-time credit against the income tax imposed by Section 2355 of this title for investments in qualified clean-burning motor vehicle fuel property placed in service after December 31, 1990. B. As used in ...
Posted in: STATES, Oklahoma

Orange arrow How Do I Calculate Oklahoma Depletion?

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  Oklahoma depletion on oil and gas well production, at the option of the taxpayer, may be computed at 22% of gross income derived from each Oklahoma property during the taxable year. Any depletion deduction allowable is the amount so computed minus the federal depletion claimed. If Oklahoma options ...
Posted in: STATES, Oklahoma

Orange arrow How Do I Determine my Oklahoma Net Operating Loss?

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  The loss year return must be filed to establish the Oklahoma Net Operating Loss. Use the 511NR-NOL schedules. When there is a federal net operating loss (NOL), an Oklahoma NOL must be computed as if all the income were earned in Oklahoma. The figures from the “Federal Amount” column are...
Posted in: STATES, Oklahoma

Orange arrow What is Included in Oklahoma Exclusions Listed on Oklahoma's Tax Return?

1029 views
  Military Pay ExclusionOklahoma residents who are members of any component of the Armed Services may exclude 100% of their active military pay, including Reserve & National Guard pay, to the extent such pay is included in the Federal Adjusted Gross Income. Retired military see instructions for S...
Posted in: STATES, Oklahoma

Orange arrow Oklahoma Other Exclusions

1068 views
  Miscellaneous: Other AdjustmentsEnter in the box on Schedule 511-C, line 6, the appropriate number as listed below which shows the type of deduction. If you are entitled to more than one deduction listed below, enter the number “99”. Enter the number “1” if the following ap...
Posted in: STATES, Oklahoma

Orange arrow How Can I Contact the State of Oklahoma About my Taxes and Where to Mail Them?

1323 views
  How can I contact the state of Oklahoma about my taxes, and where to mail them? How to Contact the Oklahoma Tax Commission - Whether you need a tax form, have a question or need further information, there are many ways to reach us. On the Web - You will find a wealth of information on our website...
Posted in: STATES, Oklahoma


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