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

Column A

Column B

Column C

Column D

Schedule Two: Individuals

1/1 - 3/31

1/1 - 8/31

1/1 - 12/31

1/1 - 5/31

1. Enter your Oklahoma adjusted gross income

for each period . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

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

2.4

1.5

3. Annualized taxable income.

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

4. Enter your itemized deductions for the period

shown in each column. If you do not itemize,

enter “0” and skip to line 7. . . . . . . . . . . . . . . . . . . 4

5. Annualization amounts . . . . . . . . . . . . . . . . . . . . . 5

2.4

1.5

6. Multiply line 4 by line 5 . . . . . . . . . . . . . . . . . . . . . 6

7. In each column, enter the full amount

of your Oklahoma Standard Deduction . . . . . . . .

8. Enter the larger of line 6 or line 7 . . . . . . . . . . . . . 8

9. Subtract line 8 from line 3 . . . . . . . . . . . . . . . . . . . 9

10. In each column, multiply $1,000 by the total

number of exemptions claimed . . . . . . . . . . . . . . .10

11. Taxable income (Method 1).

Subtract line 10 from line 9 . . . . . . . . . . . . . . . . . . 11

12. Tax from Tax Table 1 . . . . . . . . . . . . . . . . . . . . . . . 12

13. In each column, enter the Federal income tax

deduction for the period . . . . . . . . . . . . . . . . . . . . 13

14. Taxable income (Method 2).

Subtract line 13 from line 11 . . . . . . . . . . . . . . . . . 14

15. Tax from Tax Table 2 . . . . . . . . . . . . . . . . . . . . . . . 15

16. Oklahoma income tax. Lesser of lines 12 or 15 . .16

17. Oklahoma credits (refundable & nonrefundable) 17

18. Subtract line 17 from line 16.

If zero or less, enter “0”

19. Applicable percentage . . . . . . . . . . . . . . . . . . . . . 19

17.5%

35%

52.5%

70%

20. Multiply line 18 by line 19 . . . . . . . . . . . . . . . . . . . 20

Caution: Complete lines 21-27 of one column before going to the next column.

21. Add amounts in all previous columns of line 27 . . 21

22. Annualized income installments. Subtract line 21

from line 20. If zero or less, enter “0” . . . . . . . . . . 22

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

of Form OW-8-P in each column . . . . . . . . . . . . . 23

24. Enter the amount from line 26 of the previous

column . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

25. Add lines 23 and 24 . . . . . . . . . . . . . . . . . . . . . . . 25

26. Subtract line 22 from line 25.

If zero or less, enter “0” . . . . . . . . . . . . . . . . . . . . 26

27. Required Installments. Enter the smaller of line 22

or line 25 here and in applicable column on

Form OW-8-P, Section Two, Part Two, line 9 . . . 27

Form Ow-8-P-Sup - Oklahoma Annualized Income Installment Method - 2000 Page 2

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