Oklahoma Estimated Tax Declaration for Corporations

Estimated Tax Declaration for Corporations
2024 Form OW-8-ESC Oklahoma Corporate, Fiduciary and Partnership Estimated Tax Worksheet for Corporations, Partnerships and Ttusts
ITE OW-8-ESC

Oklahoma Corporate, Fiduciary and
Partnership Estimated Tax

Revised 6-2023

Tax Year 2024 Worksheet for Corporations, Partnerships and Trusts
See the general instructions for additional filing information.

A corporation or trust with an estimated income tax liability of $500 or more for the year is required to file a declaration and pay estimated tax. The corporate income tax rate is 4% of taxable income. The tax rates for trusts are in the Form 513 or 513-NR instructions.
Estates are not required to file an estimated tax return declaration. The tax for partnerships will be determined by reference to Form
514-PT and instructions.
	 1	 Enter the estimated Oklahoma income tax* for the current year........................................................................

00

	 2	 Enter the income tax credits...............................................................................................................................

00

	 3	 Enter the estimated Oklahoma income tax liability (subtract line 2 from line 1).................................................

00

	 4	 A.	 Multiply line 3 by 70%..............................................................................................

00

		 B.	 Enter the tax liability shown on the previous year’s tax return.................................

00

		 C.	 Enter the smaller of line 4A or 4B. Note: If line 3 is less than $500, estimated tax payments are not required....

00

	 5	 Estimated amount of withholding.......................................................................................................................

00

	 6	 Subtract line 5 from line 4C................................................................................................................................
		Note: If less than zero, or line 3 minus line 5 is less than $500, estimated tax payments are not required.

00

	 7	 Amount to be paid with each coupon (if paid quarterly, 25% of line 6)...............................................................

00

* If income is received unevenly throughout the year (e.g. operating a business on a seasonal basis), the estimated tax
payment may be lowered for one or more periods by using the annualized income installment method as prescribed in the
Internal Revenue Code and in the Oklahoma Tax Commission (OTC) Rule 710:50-13-9. The annualization provisions found in
Sections 6655(e)(2)(C) and 6655(e)(3) of the Internal Revenue Code may not be used. Computing estimated taxes on an annualized basis shall only be permitted for a taxable year of twelve months.

Record of Estimated Tax Payments

Mandatory inclusion of Social Security and/or Federal
Identification Numbers are required on forms filed with the OTC
pursuant to 68 Oklahoma Statutes and regulations thereunder, for
identification purposes, and are deemed part of the confidential
files and records of the OTC.
The OTC is not required to give actual notice of change in any
state tax law.

Quarter 		

Date Paid 		

Amount

Applied from 2023 Tax Return.............................

1
2
3
4
Total

Use the coupon below for all four quarterly estimated tax payments.
The due dates are shown on page 2.
Do not fold, staple, or paper clip

ITE OW-8-ESC

Detach Here and Return Coupon with Payment
Oklahoma Corporate, Fiduciary and
Partnership Estimated Tax Coupon

Mailing Address Change
(Enter new mailing address below)

Taxpayer FEIN

___________________________________________________
Name

___________________________________________________
Address

Tax Year

2024

Quarter
- - - - - - - - - - Dollars - - - - - - - - - -

___________________________________________________
City			

Do not tear or cut below line

State

	

ZIP

- - Cents - -

Amount of
Payment:	 _____________________________	. ___________
Please remit only one check per coupon.

Mail this coupon, along with payment, to:
Oklahoma Tax Commission - PO Box 269027 - Oklahoma City, OK 73126-9027

Form OW-8-ESC - page 2

Oklahoma Corporate, Fiduciary and
Partnership Estimated Tax Declaration
General Instructions

Who Must Make A DECLARATION

How to Compute Estimated Tax

A corporation or trust with an estimated income tax liability of
$500 or more for the year is required to file a declaration and pay
equal* quarterly estimated tax. Estates are not required to file an
estimated tax declaration.

Trust tax rates are found in the Packet 513 or 513-NR instructions. Corporate income tax is 4% of taxable income. The tax for
partnerships will be determined by reference to Form 514-PT and
instructions.

Estimated tax payments made on behalf of the nonresident
partners electing to be included in the composite return must
be made under the partnership’s name and Federal Employer
Identification Number.

Name and Address: Enter the name and mailing address.
	
•	 If the address has changed, place an ‘X’ where indicated in
the upper left corner of the coupon.

* For purposes of determining the amount of tax due on any of
the respective dates, taxpayers may compute the tax by placing
taxable income on an annualized basis. See OTC Rule 710:5013-9.

When To File and Pay

A declaration of estimated tax should be filed and the first installment paid by April 15th for calendar year taxpayers. Fiscal year
taxpayers should file and pay the first installment by the fifteenth
day of the fourth month following the beginning of their taxable
year. Other installments should be paid by the due dates shown
below.

Interest for Underpayment

In general, underpayment of estimated tax interest is due if the
tax liability is $500 or more and timely paid quarterly estimated
tax payments are not at least 70% of the current year tax liability
or 100% of the prior year tax liability. The tax liability is the tax
due less all credits except amounts paid on withholding, estimated tax and extension payments. The amount of underpayment of
estimated tax interest is computed at a rate of 20% per annum
for the period of underpayment. Note: No underpayment of estimated tax interest shall be imposed if the tax shown on the return
is less than $1,000. For additional information see 68 OS Sec.
2385.7-2385.13 or call the Oklahoma Tax Commission’s Income
Tax Accounts Division - Corporate Section at 405.521.3126.

Due Dates: **
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1st Quarter
(Calendar Year) April 15
(Fiscal Year) Fifteenth day of the fourth month
2nd Quarter
(Calendar Year) June 15
(Fiscal Year) Fifteenth day of the sixth month
3rd Quarter
(Calendar Year) September 15
(Fiscal Year) Fifteenth day of the ninth month
4th Quarter
(Calendar Year) January 15
(Fiscal Year) Fifteenth day of the first month of the
succeeding taxable year.

** If the due date falls on a weekend or legal holiday when the
OTC offices are closed, your payment is due the next business
day.

How to Complete Your Tax Declaration Coupon

Taxpayer FEIN: Enter the Federal Employer Identification Number.
Quarter: Enter the quarter for this estimated payment.
Amount of Payment: Enter the amount of estimated tax being paid
with the estimated tax coupon.
Do not send coupon if no payment is required.

Additional Information
Make checks payable to: Oklahoma Tax Commission.
Do NOT send cash.
Mail the coupon, along with payment, to:
Oklahoma Tax Commission
PO Box 269027
Oklahoma City, OK 73126-9027
Do not enclose any other tax reports or correspondence in
this envelope.
See below for electronic payment information.
The coupon on page 1 will be used for all quarterly estimated tax
payments. The quarterly due dates are shown below.

Electronic Payment Options:

Electronic payments are accepted for estimated income tax
payments at tax.ok.gov. There is a convenience fee charged for
utilizing some of the electronic payment services.
Note: If you make your estimated tax payment electronically,
do not mail this payment coupon. Please retain the confirmation
number for your records.