Form Ow-8-P-Sup - Oklahoma Annualized Income Installment Method

Oklahoma Annualized

Tax Year _____

OW-8-P-SUP

Income Installment Method

Creation Date October 2000

(Enclose this form and Form OW-8-P with your return)

General Information...

If you use this form for any payment due date, you must use it for all payment due dates. To figure the amount of each required

installment the schedule automatically selects the smaller of the annualized income installment or the regular installment (increased by

the amount saved by using the annualized income installment method in figuring any earlier installments). You must complete Section

Two, Part One of Form OW-8-P before you can complete this form.

The annualization method for Oklahoma estimated tax purposes is the same as that prescribed in the Internal Revenue Code. For

corporate taxpayers, the annualization provisions found in Section 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.

Use Schedule One for Corporations and Schedule Two for Individuals.

Column C

Column D

Column A

Column B

Schedule One: Corporations

First 6 months

First 9 months

First 3 months

1. Enter Oklahoma taxable income for each

Annualization period . . . . . . . . . . . . . . . . . . . . . . . 1

2. Annualization amounts . . . . . . . . . . . . . . . . . . . . . 2

1.33333

3. Annualized taxable income.

Multiply line 1 by line 2 . . . . . . . . . . . . . . . . . . . . . 3

4. Oklahoma income tax. Multiply line 3 by 6% . . . . 4

5. Oklahoma credits (refundable & nonrefundable) . . 5

6. Subtract line 5 from line 4.

. . . 6

If zero or less, enter “0”

7. Applicable percentage . . . . . . . . . . . . . . . . . . . . . 7

17.5%

35%

52.5%

70%

8. Multiply line 6 by line 7 . . . . . . . . . . . . . . . . . . . . . 8

Caution: Complete lines 9-15 of one column before going to the next column.

9. Add amounts in all previous columns of line 15 . . 9

10. Annualized income installments. Subtract line 9

from line 8. If zero or less, enter “0” . . . . . . . . . . 10

11. Enter 1/4 of line 8 from Section Two, Part One

of Form OW-8-P in each column . . . . . . . . . . . . . 11

12. Enter the amount from line 14 of the previous

column . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

13. Add lines 11 and 12 . . . . . . . . . . . . . . . . . . . . . . . 13

14. Subtract line 10 from line 13.

If zero or less, enter “0” . . . . . . . . . . . . . . . . . . . . 14

15. Required Installments.

Enter the smaller of line 10 or line 13 here and

in applicable column on Form OW-8-P

Section Two, Part Two, line 9 . . . . . . . . . . . . . . . 15

Instructions for Schedule Two (back of form)...

Line 1

Enter your Oklahoma adjusted gross income for each period. This is your gross income, including your share of partnerships

or S-corporation income or loss, for the period, minus your adjustments to income for that period.

Line 17 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.

Form Ow-8-P-Sup - Oklahoma Annualized Income Installment Method - 2000

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