Oklahoma Taxes

Here is a brief account of the various aspects of the taxes that are imposed on the residents of the state of Oklahoma.

Oklahoma Income Tax

  • There are 7 tax brackets in Oklahoma, ranging from 0.5% to 5.5% on taxable income where the percentage of tax increases with the increase in income of the taxpayer.
  • Taxpayers are divided into two groups – single and married. The tax structure is different from single to married individuals.
  • By way of example, a single taxpayer is liable to pay 0.5% of the first $1,000 of taxable income. A married couple on the other hand can pay 0.5% for up to $2,000 of taxable income.
  • Income Tax is due on the 15th of April each year, or the next working day if the 15th happens to fall on a weekend or public holiday.

Oklahoma Sales Tax

  • The rate of sales tax in Oklahoma is 4.5%.
  • Oklahoma is involved in a national program known as the Streamlined Sales Tax Initiative (SSTI) which attempts to simplify the various components of sales tax in the country.
  • Residents who have lived in Oklahoma for a whole year and if the total gross income of the household is $20,000 or less can claim sales tax relief.
  • Taxpayers above the age of 65 or older or disabled and who earn up to $50,000 are also eligible for sales tax relief.
  • Refunds can be availed of by filing Form 538-S. This must be filed along with the returns of personal income tax.
  • Incorporated towns, cities and counties can collect local sales tax.

Oklahoma Property Tax

  • Another name for property taxes in Oklahoma is “ad valorem” taxes.
  • These taxes are based on the taxpayer’s property value which is evaluated by the “county assessor” which is a locally- elected person who determines the value of property for the purpose of income tax/
  • Property tax must be filed on or before the 15th of March each year.

 

Oklahoma Estate and Inheritance Taxes

  • Oklahoma does not collect any inheritance tax but estate tax is collected.
  • The estate tax collected by Oklahoma is collected on a local level

Other Facts about Okhlahoma Tax

  • There is “quick tax” levied by the Okhlahoma Tax commission which is a way for businesses to pay taxes online. All information about the tax services of Oklahoma can be obtained from the state’s website.

Prior Year Oklahoma 511 Individual Income Tax Forms

2006 2007 2008 2009 2010

Where to Mail FEDERAL IRS Tax Forms within Oklahoma:

IRS Form If you ARE NOT enclosing a payment, use this address:v If you ARE enclosing payment, use this address:
1040: Department of the Treasury
Internal Revenue Service
Fresno, CA  93888-0002
Internal Revenue Service
P.O. Box 802501
Cincinnati, OH 45280-2501
1040A: Department of the Treasury
Internal Revenue Service
Fresno, CA  93888-0015
Internal Revenue Service
P.O. Box 802501
Cincinnati, OH 45280-2501
1040EZ: Department of the Treasury
Internal Revenue Service
Fresno, CA  93888-0014
Internal Revenue Service
P.O. Box 802501