Form 512 - Corporation Income Tax Return - 2012 Page 9
Download a blank fillable Form 512 - Corporation Income Tax Return - 2012 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 512 - Corporation Income Tax Return - 2012 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21Line by Line Instructions
Page Two - Schedule A, continued
Line 6b - State and Municipal Interest (continued)
Line 10 - Other Income (Column B)
Rents and interest expenses paid to a captive
4) Income on bonds issued by another
real estate investment trust and deducted on your
state or political subdivision thereof (non-
Federal return must be added back to compute
Oklahoma), exempt from Federal taxation,
is taxable for Oklahoma income tax.
Oklahoma taxable income. Such add-back is not
required if the captive real estate investment trust
Enclose a schedule of all municipal interest
is subject to the add-back for the dividends-paid
received by source and amount. If the income is
deduction. See “Captive Real Estate Investment
from a mutual fund which invests in state and local
Trusts” on page 8.
government obligations, enclose documentation
from the mutual fund to substantiate the percentage
Line 12 through 26 - Expenses
of income derived from obligations exempt from
Expenses relative to the income above shall be al-
Oklahoma tax.
located directly to that income.
Note: If the interest is exempt, the capital gain/loss
Electronic Checks
from the sale of the bond may also be exempt. The
gain/loss from sale of a state or municipal bond,
Now Accepted
other than those provided for in 1, is exempt only if
so provided by the statute authorizing its issuance.
Through Website
Line 7 and 8 - Rents and Royalties
Income from real or tangible personal property,
Paper checks are not your only option when paying your
lease royalty or bonus shall be allocated in accor-
balance due. You may pay electronically from your check-
dance with the situs of the property.
ing account through our website.
Line 9 - Gains or Losses
Log on to and visit the “Online Servic-
Gains or losses from the sale of leases and gains
es” link to view all your payment options.
or losses from the sale of real and tangible person-
Other tax types are also accepted through this payment
al property, shall be allocated in accordance with
system, including estimated tax payments.
the situs of the property.
Page Three - Schedule B
Schedule B is to be used by corporations con-
NOTE: FACTORS ARE NOT COMPUTED FROM
ducting a business of a unitary nature. A unitary
THE CONSOLIDATED TOTALS. Each factor is a
business is one whose income is derived from the
ratio of the total within Oklahoma to the total every-
conduct in more than one state of a single business
where. For income apportioned to Oklahoma, there
enterprise, all the factors of which are essential to
is to be added all income separately allocated to
the realization of an ultimate gain derived from the
Oklahoma with the result being Oklahoma taxable
enterprise as a whole, and not from its component
income. 68 OS Sec. 2358.
parts which are too closely connected and neces-
Line 1 - Federal Taxable Income
sary to each other to justify division or separate
Enter Net Taxable Income from Schedule A, Col-
allocation.
umn A, line 30.
Generally the resulting amount is apportioned to
Electronic Payments
Oklahoma based on the 3-factor formula. The basis
of the apportionment is the arithmetical average
Log on to and visit the
of three factors consisting of property, payroll and
sales. If less than 3 factors are present, the re-
“Online Services” link to make a payment
sulting amount is apportioned to Oklahoma on a
electronically. All electronic payment methods
2-factor or single factor formula consisting of the
provide you with a confirmation number and
arithmetical average of the factors present. A fac-
the peace of mind in knowing your
tor is considered present if there is a denominator.
payment was received.
9
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial