Oklahoma Annualized Estimated Tax Worksheet

Annualized Estimated Tax Worksheet
2023 Form OW-8-ES-SUP Annualized Estimated Tax Worksheet
Annualized Estimated Tax Worksheet
Part-year and nonresidents see the “Note” on the back of the page.

Complete each column after the end of the period shown.

1.	 Enter your Oklahoma adjusted gross income
	
for each period .......................................................... 1
2.	 Annualization amounts............................................... 2	

Column A
1/1 - 3/31

FORM

State of Oklahoma

OW-8-ES-SUP

Column B
1/1 - 5/31

Column C
1/1 - 8/31

Column D
1/1 - 12/31

4	

2.4	

1.5	

1

4	

2.4	

1.5	

1

3.	 Annualized Oklahoma adjusted gross income
	
Multiply line 1 by line 2 .............................................. 3
4.	
	
	
5.	

Enter your Oklahoma itemized deductions for the
period shown in each column. If you do not itemize,
enter “0” and skip to line 7......................................... 4
Annualization amounts .............................................. 5	

6.	 Multiply line 4 by line 5 .............................................. 6
7.	 Enter the full amount of your Oklahoma
	
Standard Deduction ................................................. 7
8.	 Enter the larger of line 6 or line 7 (Note: If line 6 is less
	
than the Federal Standard Deduction, see instructions) ............ 8
9.	 Multiply $1,000 by the total number of expected
	
exemptions ................................................................ 9
10.	 Add lines 8 and 9. (Note: If you have out-of-state
	
income, see instructions) .................................................. 10
11.	 Adjustments to Oklahoma Adjusted Gross Income.....11
12.	 Taxable income.
	
Subtract line 10 and 11 from line 3 ........................... 12
13.	 Tax from Tax Table .................................................... 13
14.	 Oklahoma credits (refundable and nonrefundable).............. 14
15.	 Subtract line 14 from line 13. If zero or less, enter “0”...... 15
16.	 Applicable percentage .............................................. 16	
17.5%	35%	 52.5%	70%
17.	 Tax after credits: multiply line 15 by line 16 ............. 17
18.	 Add amounts in all previous columns of line 24a. ..... 18
19.	 Annualized income installments. Subtract line 18
	
from line 17. If zero or less, enter “0” ....................... 19
20.	 Enter 1/4 of line 9c from Form OW-8-ES
	
“Estimated Tax Worksheet” in each column ............. 20
21.	 Enter the amount from line 23 of the previous
	column ...................................................................... 21
22.	 Add lines 20 and 21................................................... 22
23.	 Subtract line 19 from line 22.
	
If zero or less, enter “0” ............................................. 23
24.	 a	
	
b	
		
	
c	
		
		
	
d	
		
		
		

Enter the smaller of line 19 or line 22............... 24a
Total required payments for the period.
Add line 18 and line 24a................................... 24b
Estimated tax payments made (line 24d of all
previous columns) and tax withholding through
the due date for the period................................ 24c
Estimated tax payment required by the next
due date. Subtract line 24c from line 24b and
enter the result (but not less than zero) here
and on your payment voucher.......................... 24d

2
0
2
3

2023 Form OW-8-ES-SUP - Page 2

Annualized Estimated Tax Worksheet
General Information

If you do not receive your income evenly throughout the year (for example, your income from a repair shop you operate
is much larger in the summer than it is during the rest of the year), your required estimated tax payment for one or more
periods may be less than the amount figured using the regular installment method.
To see if you can pay less for any period, complete the Annualized Estimated Tax Worksheet. (Note: You must first complete the regular “Tax Worksheet for Individuals” included on Form OW-8-ES.) This worksheet annualizes your tax at the
end of each period based on a reasonable estimate of your income, deductions, and other items relating to events that occurred since the beginning of the tax year through the end of the period. Use the result you figure on line 24d of this form
to make your estimated tax payments and complete your payment vouchers.
The annualization method for Oklahoma estimated tax purposes is the same as that prescribed in the Internal Revenue
Code. The top of the worksheet shows the dates for each payment period. The periods build, meaning each period includes all previous periods. After the end of each payment period, complete the worksheet column for the period from the
beginning of the tax year through the end of that payment period to figure how much estimated tax to pay by the payment
due date for that period.

Line Instructions
Line 1:	

Enter your Oklahoma adjusted gross income for each period. This is your gross income, including your share
of partnership(s) or S-corporation(s) income or loss, for the period, minus your adjustments to income for that
period.

Line 6:	

Multiply line 4 by line 5 and enter the result on line 6.

Line 8: 	 Enter the larger of line 6 or line 7 unless line 6 is less than the Federal standard deduction, then enter line
7. You do have the option to elect to itemize in each period. If you choose this option, enter “IE” next to the
amount.
Line 10:	 Add lines 8 and 9 and enter the result on line 10. If you had out-of-state income during the period you must first
prorate your deductions and exemptions before entering the total on line 10. The method of proration will be
the same as used on Form 511 and can be found in the instructions of the individual income tax packet for the
previous tax year. Enter the prorated amount on line 10.
Line 11:	 Enter the full amount of the Adjustments to Oklahoma Adjusted Gross Income to which you would be entitled
based on either your annualized income or expenses incurred during the period. These are the deductions and
exclusions that you are entitled to as adjustments from Oklahoma adjusted gross income to arrive at Oklahoma taxable income. These adjustments include, but are not limited to, military pay exclusion, qualifying disability deduction and qualified adoption expense. For a complete list of these adjustments, see the instructions for
Form 511, Schedule 511-C or Form 511-NR, Schedule 511-NR-C found in the individual income tax packet for
the previous tax year.
Line 14:	 Include all the credits (other than withholding credits) you can claim because of events that occurred during
that period. Do not annualize any credit. However, when figuring your credits, you must annualize any item of
income or deduction used to figure the credit. Also, include any credit(s) you are carrying over from a previous
year.
Line 24a:	 To avoid interest for underpayment, you may want to enter on this line the amount from line 17, if line 20 is
smaller than line 17 and your line 18 is based on an estimate of your current year’s tax (the amount of which is
not certain).
Line 24c:	 Include all Oklahoma estimated tax payments actually made and Oklahoma income tax withholding through
the payment due date for the period. Your withholding is considered paid in four equal installments, one on the
due date of each payment period. To figure the amount to include on line 24c for each period, multiply your
total expected withholding for the current year by:
			
1) 25% (.25) for the first period,	
2) 50% (.50) for the second period,
			
3) 75% (.75) for the third period, or 	 4) 100% (1.00) for the fourth period.
NOTE: The following applies to part-year and nonresident taxpayers that will be filing Form 511-NR. Lines 1 through 12
shall be calculated as if all income were earned in Oklahoma. Using the amount from line 12, calculate the tax; this is the
base tax and will be prorated for line 13. (If you qualify for the Oklahoma child care/child tax credit, reduce the amount
on line 12 by the Oklahoma child care/child tax credit before you calculate line 13; do not enter this credit on line 14.)
To calculate line 13, first estimate your income from Oklahoma sources. Divide your income from Oklahoma sources by
the amount on line 1. Multiply this percentage by the base tax and enter the result on line 13. This is your “Tax from Tax
Table”. Complete the remainder of the form as directed.