Get the free Form 512 - Oklahoma Corporate Income Tax Return

This document provides the necessary forms and instructions for corporations to file their income tax return with the Oklahoma Tax Commission. It includes details on required information, tax calculations,

How to fill out form 512 - oklahoma

How to fill out Form 512 - Oklahoma Corporate Income Tax Return

1. Obtain Form 512 from the Oklahoma Tax Commission website or your tax professional.
2. Fill out the corporation’s name, address, and federal employer identification number (FEIN) at the top of the form.
3. Indicate the tax year for which you are filing.
4. Complete the income section by providing gross receipts, total income, and any adjustments.
5. Calculate the allowable deductions and subtract them from your total income.
6. Determine your taxable income by subtracting total deductions from total income.
7. Calculate the corporate tax liability based on the Oklahoma corporate tax rate applicable to your taxable income.
8. Fill out any additional schedules that apply (e.g., credits, modifications).
9. Review the form for accuracy and ensure all calculations are correct.
10. Sign and date the form before submitting it to the Oklahoma Tax Commission by the due date.

Who needs Form 512 - Oklahoma Corporate Income Tax Return?

1. All corporations doing business in Oklahoma or earning income from Oklahoma sources.
2. Corporations required to file federal income tax returns.
3. Corporations that meet the income threshold as defined by the Oklahoma Tax Commission.

People Also Ask about

What is Oklahoma Form 512 S?

All corporations having an election in effect under Subchapter S of the IRC engaged in business or deriving income from property located in Oklahoma and that are required to file a federal income tax return using Form 1120-S, must file an Oklahoma income tax return on Form 512-S.

Where can I pick up tax forms?

Tax forms and publications Downloading from IRS Forms & Publications page. Picking up copies at an IRS Taxpayer Assistance Center. Going to the IRS Small Business and Self-Employed Tax Center page. Requesting copies by phone — 800-TAX-FORM (800-829-3676).

Where can I find Oklahoma tax forms?

Forms can be accessed from the OK Tax Commission website. Frequently requested forms can be accessed below. Notice: The Oklahoma Tax Commission is unable to mail forms to individuals or businesses. The forms below are for tax year 2024.

Can you still get tax forms at the library?

Get federal tax forms for current and prior years Get the current filing year's forms, instructions, and publications for free from the IRS. You can also find printed versions of many forms, instructions, and publications in your community for free at: Libraries.

Is there an 80% limitation on Oklahoma Nol?

The TCJA also introduced an unlimited carryforward period for NOLs and established an 80% limitation on the amount allowed as a “net operating loss deduction” for NOLs arising after December 31, 2017.

Can I get tax forms at the post office?

Are tax forms available at my local Post Office®? No, Post Offices do not have tax forms available for customers. However, you can view, download, and print specific tax forms and publications at the "Forms, Instructions & Publications" page of the IRS website. You may also acquire tax forms through the mail.

Where can I get Oklahoma tax forms?

Forms can be accessed from the OK Tax Commission website. Frequently requested forms can be accessed below. Notice: The Oklahoma Tax Commission is unable to mail forms to individuals or businesses.

For pdfFiller’s FAQs

What is Form 512 - Oklahoma Corporate Income Tax Return?

Form 512 is the official document used by corporations to report their income, calculate their tax liability, and pay taxes owed to the state of Oklahoma.

Who is required to file Form 512 - Oklahoma Corporate Income Tax Return?

All corporations doing business in Oklahoma or earning income sourced from Oklahoma are required to file Form 512.

How to fill out Form 512 - Oklahoma Corporate Income Tax Return?

To fill out Form 512, corporations need to provide information such as their federal identification number, income, deductions, and credits, along with any applicable schedules and documentation.

What is the purpose of Form 512 - Oklahoma Corporate Income Tax Return?

The purpose of Form 512 is to ensure that corporations report their taxable income and fulfill their tax obligations to the state of Oklahoma.

What information must be reported on Form 512 - Oklahoma Corporate Income Tax Return?

Form 512 requires reporting on gross income, allowable deductions, tax credits, and the calculation of the total tax due, among other financial details.