Fillable Oklahoma Individual Estimated Tax (Page 2 of 2) in pdf

Form OW-8-ES - page 2

Oklahoma Individual Estimated Tax Declaration

General Instructions

Who Must Make Estimated Payments

How to Compute Estimated Tax

You must make equal* quarterly estimated tax payments if

A worksheet is included with the coupon for use in computing

you can reasonably expect your tax liability to exceed your

estimated tax liability. To compute the tax, refer to the tax table

withholding by $500 or more and you expect your withholding to

included with Packet 511 or Packet 511NR instructions.

be less than the smaller of:

How to Complete Your Tax Declaration Coupon

1. 70% of your current year’s tax liability, or

Name and Address: Enter your name and mailing address.

2. the tax liability shown on your return for the preceding

• On a joint return, enter the name of the primary taxpayer.

taxable year of 12 months.

The primary taxpayer is the person whose name will be

entered first on the income tax return.

Estates and farmers are not required to make estimated tax

payments. A farmer is an individual who derives at least two-

• If your address has changed, place an ‘X’ where indicated

thirds of his/her gross income for the current year or the previous

in the upper left corner of the coupon.

year from farming activities.

Taxpayer SSN: Enter the primary taxpayer’s social security number.

* If you receive income unevenly throughout the year (e.g. you

Quarter: Enter the quarter for which you are making the

operate your business on a seasonal basis), you may be able

estimated tax payment.

to lower or eliminate the amount on your required estimated tax

payment for one or more periods by using the annualized income

Due Date: Enter the quarterly due date. See below for the due

installment method. See Form OW-8-ES-SUP for details. Form

date for each quarter.

OW-8-ES-SUP may be downloaded at

Amount of Payment: Enter the amount of estimated tax being

paid with the estimated tax coupon.

When To File and Pay

A declaration of estimated tax should be filed and the first

Do not send coupon if no payment is required.

installment paid by April 15th for calendar year taxpayers. Other

installments for calendar year taxpayers should be paid by the

Additional Information

due dates shown below.

Make checks payable to: Oklahoma Tax Commission.

Do NOT send cash.

Interest for Underpayment

In general, you will owe underpayment of estimated tax interest

Mail the coupon, along with payment, to:

if your tax liability exceeds your withholding by $500 or more

and your timely paid quarterly estimated tax payments and

Oklahoma Tax Commission

withholding are not at least 70% of your current year tax liability

Post Office Box 269027

or 100% of your prior year tax liability. The tax liability is the

Oklahoma City, OK 73126-9027

tax due less all credits except amounts paid on withholding,

Do not enclose any other tax reports or correspondence in

estimated tax and extension payments. The amount of

this envelope.

underpayment of estimated tax interest is computed at a rate

of 20% per annum for the period of underpayment. Note: No

See below for electronic payment information.

underpayment of estimated tax interest shall be imposed if

You will receive a pre-printed coupon to make your next quarterly

the tax shown on the return is less than $1000. For additional

payment.

information see 68 O.S. Sec. 2385.7-2385.13 or call the Tax

Commission’s Taxpayer Assistance Division at (405) 521-3160.

Due Dates (Calendar year)

Electronic Payment Options:

Electronic payments are accepted for estimated income tax pay-

• 1st Quarter - April 18, 2016

ments at There is a convenience fee charged

• 2nd Quarter - June 15, 2016

for utilizing some of the electronic payment services.

• 3rd Quarter - September 15, 2016

Note: If you make your estimated tax payment electronically, do

• 4th Quarter - January 16, 2017

not mail this payment coupon. Please retain the confirmation

number for your records.

Oklahoma Individual Estimated Tax Page 2

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