Taxation in Oklahoma

Updated on Tuesday 04th December 2018

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The corporate franchise tax and the corporation business tax are among the important taxes a company needs to pay in Oklahoma. It is important to know how the business is done in this state, in order to align with the tax requirements, a matter where our team of company formation agents in USA can help. The same team can help foreign entrepreneurs to start a business in USA in compliance with the conditions imposed by the relevant authorities.

What is the corporate income tax rate in Oklahoma?

The corporate income tax rate in Oklahoma is set at 6% and it is applicable to the federal taxable income generated in this state by foreign companies.

What is the franchise tax rate in Oklahoma?

The franchise tax in Oklahoma is applicable to C and S corporations and it represents $1.25 per each $1,000 or fraction thereof on the amount of capital invested or employed in the state of Oklahoma. In the past few years, the franchise tax was replaced by the business activity tax or BAT for a short period of time, the authorities deciding to reintroduce the franchise tax in Oklahoma. Feel free to talk to our company formation specialists in USA for complete information in this sense.

The sales tax rate in Oklahoma

4.5% represents the standard sales tax in Oklahoma, an important fee imposed for goods and services for sale purposes on the market. Municipalities in Oklahoma can impose their own city sales tax which cannot exceed 5.5%. We invite you to talk to our company formation specialists in USA and find out how you can open a company in USA. For more information about doing business in Oklahoma, we suggest you read the general guide to company incorporation in Oklahoma.

The taxes on personal incomes in Oklahoma

The following tax rates are imposed for single taxpayers in Oklahoma:
Taxable Income Tax Rate
Between 0$ and $1,000   0.5%
Between $1,001 and $2,500  1%
Between $2,501 and $3,750  2%
Between $3,751 and $4,900 3%
Between $4,901 and $7,200  4%
Between $7,201 and $8,700  5%
For more than $8,701  5.25%

Other tax facts in Oklahoma

The property tax, the gas tax, the cigarette tax, and the alcohol tax are among the fees imposed in Oklahoma. Since 2010, there is no inheritance tax, as such fee has been repealed. All taxpayers have the possibility of submitting the tax forms on the official website of the Oklahoma Tax Commission, however, they can address to our team of advisors for complete support if they want to skip such formalities.

Please feel free to contact our company formation representatives in USA and find out how you can open a company in Oklahoma and about the tax regime for each type of entity.