Fillable 2019 Oklahoma Corporation Income and Franchise Tax Forms (State of Oklahoma)

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2019 Oklahoma Corporation Income and Franchise Tax Forms (State of Oklahoma)

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2019 Oklahoma
Corporation Income and
Franchise Tax Forms and
Instructions
This packet contains:
• Instructions for completing the
Form 512
• 512 corporation income and
franchise tax form
• Form 512-TI Computation of
Oklahoma Consolidated Taxable
Income
• Form 512-TI-SUP Supplemental
schedule for Form 512-TI
• Form 512-FT Computation of
Oklahoma Consolidated Annual
Franchise Tax
• Form 512-FT-SUP Supplemental
schedule for Form 512-FT
Filing date:
• Your Oklahoma return is due 30
days after the due date of your
Federal return.
For assistance or forms:
• See page 15 for methods of
contacting the Oklahoma Tax
Commission.
•
Download Forms 24/7
•
View FAQs or Email the
OTC a Question
•
Latest Tax News
http://oktap.tax.ok.gov
One Site with Many
Oklahoma Filing Options
www.tax.ok.gov
General Filing Information ..................................2-5
Estimated Income Tax Information ........................ 3
Amended Returns ................................................. 3
Line by Line Instructions ..................................5-14
General Instructions for Determining
Oklahoma Taxable Income ................................. 5-6
OkTAP Information ................................................ 6
Part 1 Instructions ..............................................7-8
Part 2 Instructions ..............................................8-9
Page 1 of Form 512 Instructions ...................... 9-11
Line by Line Instructions: Franchise Tax ........11-12
Page 2 of Form 512 - Section 2: Franchise Tax .. 12
Page 2 of Form 512 - Section 3: Total ............13-14
When You Are Finished ....................................... 14
How to Contact the OTC ..................................... 15
Direct Deposit Information .................................. 15
TABLE OF CONTENTS
• Includes Form 512;
Forms 512-TI, 512-TI-SUP;
Forms 512-FT, 512-FT-SUP
2019 OKLAHOMA CORPORATION TAX PACKET
Any corporation doing business within or deriving income
from sources within Oklahoma is required to le an Okla-
homa Corporation Income Tax Return, whether or not a
tax is due.
Every corporation organized under the laws of this state or
qualied to do or doing business in Oklahoma in a corpo-
rate or organized capacity by virtue or creation of organi-
zation under the laws of this state or any other state, ter-
ritory, district, or a foreign country, including associations,
joint stock companies and business trusts as dened by
Oklahoma statutes unless exempt by statutes must le an
Annual Franchise Tax Return. The term “doing business”
means and includes every act, power, or privilege exer-
cised or enjoyed in this state as an incident to do or by
virtue of powers and privileges acquired by the nature of
all organizations falling within the purview of the Franchise
Tax Code.
Corporations required to le a franchise tax return, may
elect to le a combined corporate income and franchise
tax return. To make this election le Form 200-F. Corpora-
tions not ling Form 200-F must le a stand-alone Oklaho-
ma Annual Franchise Tax Return (Form 200). Corporations
that remitted the maximum amount of franchise tax for
the preceding tax year or have had their corporate charter
suspended, do not qualify to le a combined income and
franchise tax return.
Note: Small Business Corporations (Subchapter S) must
use Form 512-S.
Time and Place for Filing
Corporate returns shall be due no later than 30 days after
the due date established under the Internal Revenue Code
(IRC). In the case of complete liquidation or the dissolution
of a corporation, the return shall be made on or before the
15th day of the fourth month following the month in which
the corporation is completely liquidated. When the last
date for ling any document or performing any act
GENERAL FILING INFORMATION: INCOME TAX AND FRANCHISE TAX
2
• Members of an electing pass-through entity may
exclude the Oklahoma income (loss) covered by the
election pursuant to the provisions of the Pass-Through
Entity Act of 2019. See instructions for Part 1, Column B,
line 10 or Part 2, line 6.
• An “Initial Return” checkbox has been added to the top
of the form. The top of the form has been revised.
• The line for Credits for Employers in the Vehicle
Manufacturing Industry was added to Form 511CR. See
page 9 for information on how to obtain Form 511CR.
Who Must File
Time and Place for Filing (continued)
required by the Oklahoma Tax Commission (OTC) falls
on a day when the ofces are not open for business, the
ling of the document or performance of the act shall be
considered timely if it is performed by the end of the next
business day.
A valid extension of time in which to le your federal return
automatically extends the due date of your Oklahoma re-
turn if no Oklahoma liability is owed. A copy of the federal
extension must be provided with your Oklahoma return.
If your federal return is not extended, or an Oklahoma li-
ability is owed, an extension of time to le your Oklahoma
return may be granted on Form 504-C. The Form 504-C
must be led on or before the due date of the return. To
avoid delinquent penalty for late payment of income tax,
90% of the income tax liability must be paid with the
extension. To avoid delinquent interest for late payment
of income tax, 100% of the income tax liability must be
paid with the extension. To avoid delinquent penalty and
interest for late payments of franchise tax, 100% of the
franchise tax liability must be paid with the extension.
Returns should be mailed to the Oklahoma Tax Commis-
sion, PO Box 26800, Oklahoma City, OK 73126-0800.
Fiscal Year and Short Period Returns
For all scal year and short period returns, the beginning
and ending dates of the tax year must be shown on the
top portion of the return where indicated. Omission of this
information may cause a signicant delay in the process-
ing of the return and no interest will accrue on any refund
pending.
WHAT’S NEW IN THE 2019 PACKET?
• A donation may be made from your refund to the
following:
o Support of Programs for Regional Food Banks in
Oklahoma
o Public School Classroom Support Fund
o Oklahoma Pet Overpopulation Fund
o Support the Oklahoma AIDS Care Fund
See the instructions on pages 13 and 14 for more
information. A donation to Public School Classroom
Support Fund may also be made if you have a balance
due. See Form 512, line 14.
Tax Tips:
√ Check your calculations carefully.
√ Don’t forget to sign your tax returns.
√ Keep a copy for your records.
GENERAL FILING INFORMATION:
INCOME TAX AND FRANCHISE TAX
GENERAL FILING INFORMATION:
INCOME TAX
3
Consolidated Returns
If a federal consolidated return is led, an Oklahoma
consolidated return may be required or permitted under
certain circumstances.
An election to le a separate or consolidated return is
made with the timely ling of the original return. This
election cannot be changed with the ling of an amended
return. If an afliated group of corporations elects to le a
consolidated Oklahoma income tax return, such election
shall be binding. The afliated group of corporations shall
be required to le a consolidated Oklahoma income tax
return for all future tax years unless the OTC releases the
afliated group of corporations from such election.
• Income Tax
In ling a Consolidated Income Tax Return for Oklahoma,
the Oklahoma taxable income for each corporation is
computed separately on its own factors and then com-
bined for one total income upon which the tax is com-
puted. Complete Form 512-TI “Computation of Okla-
homa Consolidated Taxable Income” to determine the
combined taxable income to report on page 1, line 1
of Form 512. Submit separate Form 512, pages 3-5 for
each company within the consolidation.
If ling by paper, the Form 512-TI must be the third page.
Provide a copy of the federal consolidated return with
an income statement, balance sheet, M-1, M-2, M-3
and supporting schedules for each member of the con-
solidated group. 68 Oklahoma Statutes (OS) Sec. 2367.
• Franchise Tax
If ling a Consolidated Franchise Tax Return for Okla-
homa, the Oklahoma franchise tax for each corporation
is computed separately and then combined for one
total tax. Complete Form 512-FT “Computation of
Oklahoma Consolidated Annual Franchise Tax” to
determine the combined taxable income to report
on page 2, Section Two, lines 18 – 25 of Form 512.
Submit separate Form 512, pages 6 – 9 for each
company within the consolidation.
Special Instructions Regarding Form 512,
Page 5
Complete Page 5 or attach a copy of the Federal Form
1120 Schedules L, M-1 and M-2. Corporations that are
not required to complete Federal Form 1120 Schedules
L, M-1 and M-2 are still required to complete the Okla-
homa Form 512, Page 5 - Balance Sheets, Reconcilia-
tion of Income per Books with Income per Return (OK
M-1) and Analysis of Unappropriated Retained Earnings
per Books (OK M-2).
Corporations that are not required to complete Federal
Form 1120 Schedule M-1 due to the requirement to
complete Schedule M-3 must either complete the Okla-
homa Schedule M-1 or provide a copy of the Federal
Schedule M-3.
Declaration of Estimated Tax
Corporations must make estimated tax payments when
the tax liability for the current year can reasonably be
expected to be $500 or more. The estimated tax pay-
ments shall be the lesser of 70% of your current year’s
tax liability or 100% of the tax liability shown on your
return for the preceding taxable year of 12 months.
The estimated tax payments shall be paid in four equal*
installments of:
• one-quarter on or before the 15th day of
the fourth month of the taxable year;
• one-quarter on or before the 15th day of
the sixth month of the taxable year;
• one-quarter on or before the 15th day of
the ninth month of the taxable year;
• one-quarter on or before the 15th day of
the rst month of the succeeding
taxable year.
Amended declarations may be led on any of the pay-
ment dates. Form OW-8-ESC, for ling estimated pay-
ments, can be obtained from our website at www.tax.
ok.gov.
*For purposes of determining the amount of tax due on
any of the respective dates, taxpayers may compute the
tax by placing taxable income on an annualized basis as
prescribed in Rule 710:50-13-9.
Estimated payments can be made electronically through
the OTC website. Visit the “Online Services” page on
the web at www.tax.ok.gov for further information.
There is no provision in the present law for tentative
returns.
Amended Returns
Beginning with tax year 2013, the Form 512 will be used
to le an amended return. See Form 512, page 10 for
complete instructions. The Form 512X will only be used
for tax year 2012 and prior. Overpayments cannot be
applied to next year’s estimated tax. Line 28 cannot
be amended or changed once the original return has
been processed.
Adjustments by Internal Revenue Service
Taxpayers who le “consents” extending the time for
making federal adjustments automatically extend the
time for making state adjustments. The taxpayer is also
required to le an amended return reporting all Internal
Revenue Service adjustments. A copy of the nalized
RAR must be provided with each return.
GENERAL FILING INFORMATION: INCOME TAX
4
Banks and Credit Unions
State and national banks and state credit unions are
subject to an “In Lieu” tax. See 68 OS Sec. 2370. When
reporting income on Part 1, line(s) 5 and/or 6b, please
furnish a detailed schedule of the interest income by
source and amount. Expense deductions claimed in ar-
riving at taxable income shall be reduced by an amount
equal to 50% of excluded interest income on obligations
of the United States government or agencies thereof
and obligations of the State of Oklahoma or political
subdivisions thereof.
Real Estate Investment Trusts
A real estate investment trust that does not become
regularly traded on an established securities market
within one year of the date on which it rst becomes
a real estate investment trust shall be deemed not to
have been regularly traded on an established securi-
ties market, retroactive to the date it rst became a
real estate investment trust. An amended return shall
be led reecting such retroactive designation for any
tax year or part year occurring during its initial year of
status as a real estate investment trust. For purposes of
this paragraph, a real estate investment trust becomes
a real estate investment trust on the rst day it has met
the requirements of Section 856 of the Internal Revenue
Code (IRC) and has elected to be treated as a real es-
tate investment trust pursuant to IRC Section 856(c)(1).
68 OS Sec. 2358.
Oklahoma Net Operating Loss Deduction
Notice: The amount of any net operating loss deduc-
tion claimed on Part 1, line 29a or Part 2, line 6e, must
also be entered on the front of Form 512 in the space
provided at the top of the form. There is also a space
provided to enter the loss year(s).
The amount of any federal net operating loss deduction
shall be adjusted as follows:
The amount of any net operating loss deduction allowed
for the taxable year shall be an amount equal to the ag-
gregate of the Oklahoma net operating loss carryovers
and carrybacks to such year. Oklahoma net operating
losses shall be separately determined by reference to IRC
Section 172 as modied by the Oklahoma Income Tax
Act and shall be allowed without regard to the existence
of a federal net operating loss. For tax years 1996-2000,
net operating losses may not be carried back but may
be carried forward for a period of time not to exceed
15 years. For tax years 2001 – 2007 and tax years 2009
and subsequent, the years to which such losses may
be carried shall be determined solely by reference to
IRC Section 172. For tax year 2008, years to which such
losses may be carried back shall be limited to two years.
No carryback is allowed for losses arising in tax years be-
ginning after December 31, 2017, except as provided for
in IRC Section 172. 68 OS Sec. 2358 (A)(3).
Oklahoma Net Operating Loss Deduction (continued)
A detailed schedule must be furnished for any net oper-
ating loss carried forward to the current tax year.
An election may be made to forego the carryback
period. A written statement of the election must be part
of the original timely led Oklahoma loss-year return. If
the corporation timely led its return for the loss-year
without making the election, it may make the election on
an amended return led within 6 months of the due date
of the loss year return (excluding extensions). Attach the
election to the amended return. Once made, the elec-
tion is irrevocable.
GENERAL INFORMATION: FRANCHISE TAX
Requirement for Filing a Franchise Tax Return
All foreign (non-Oklahoma) corporations, including
non-prots, must pay an annual registered agent fee of
$100.00. Indicate this amount on Line 13 of the Form
512, page 6.
The maximum annual franchise tax is $20,000.00. Cor-
porations that remitted the maximum amount of fran-
chise tax for the preceding tax year do not qualify to le
a combined income and franchise tax return. For these
corporations their franchise tax is due and payable on
May 1st of each year, and delinquent if not paid on or
before June 1st.
If a taxpayer computes the franchise tax due and deter-
mines that it amounts to $250.00 or less, the taxpayer is
exempt from the tax and a “no tax due” form is required
to be led. A schedule of corporate ofcers must still be
led and, for foreign corporations, the $100.00 regis-
tered agents fee is still due.
If the charter or other instrument is suspended, a fee
of $150.00 is required for reinstatement. (See Line 16 -
Reinstatement Fee on page 12.)
Franchise Tax Computation
The basis for computing Oklahoma franchise tax is the
balance sheet as shown by your books of account at
the close of the last preceding income tax accounting
year, or electing to change ling to match the due date
of the corporate income tax, the balance sheet for that
corporate tax year.
The franchise tax for corporations doing business both
within and outside of Oklahoma, is computed on the
proportion to which property owned, or property owned
and business done, within Oklahoma, bears to total
property owned, or total property owned and total busi-
ness done everywhere.
“Property owned” is the book value of the assets. For
the purpose of determining apportionment as between
Oklahoma and elsewhere, liabilities are not to be de-
ducted from gross assets.
LINE BY LINE INSTRUCTIONS: INCOME TAX
GENERAL INSTRUCTIONS FOR DETERMINING OKLAHOMA TAXABLE INCOME
Income Computation
Beginning with federal taxable income, proper adjust-
ments are to be made to arrive at Oklahoma taxable
income. Some of the adjustments may be to add
interest income from obligations of state and political
sub-divisions thereof, and to deduct interest from U.S.
obligations. Oil and mining production or royalties and
gain or loss from disposition of such property shall be
allocated according to their situs. General and admin-
istrative expenses, such as interest expense, etc., will
ordinarily be allocated on the basis of Oklahoma direct
expense to total direct expense.
Safety Pays OSHA Consultation Service
Exemption:
(Part 1, Line 26, column B or Part 2, Line 3)
An employer that is eligible for and utilizes the
Safety Pays OSHA Consultation Service provided
by the Oklahoma Department of Labor shall receive
a $1,000 exemption for the tax year the service is
utilized. Employers must be able to substantiate their
participation in the Oklahoma Department of Labor’s
Safety Pays Consultation Service upon request.
Qualified Refinery Property:
(Part 1, Line 10, column B or Part 2, Line 2)
If the election was made to expense the cost of quali-
ed Oklahoma renery property placed in service before
January 1, 2012 on a previous year’s Oklahoma return,
the depreciation deduction claimed on the federal re-
turn for such property must be added back to arrive at
Oklahoma taxable income. This addition must be made
regardless of whether the expense was claimed on the
corporate return or allocated to its owners. 68 OS Sec.
2357.204
Cost of complying with Sulfur Regulations:
A qualied renery may make an irrevocable election
to allocate all or a portion of the cost of complying
with sulfur regulations issued by the Environmental
Protection Agency as a deduction allowable to its
owners. The allocation for each person is equal to the
ratable share of the total amount allocated, determined
on the basis of the ownership interest of the person. The
taxable income of the renery shall not be reduced by
the reason of any amount allowed under this section. 68
OS Sec. 2357.205
If you are the Refinery -
To make the election, attach a schedule stating your
corporate name and Federal Employer Identication
Number, a list of the costs of complying with sulfur
regulations some or all of which are being allocated to
your owners, and the portion of such costs allocated
to each owner, including the owner’s name and federal
identication number. You shall also provide each owner
with written notice of the amount of the allocation. The
notice must include your corporate name and Federal
Employer Identication Number and the owner’s name
and federal identication number.
If you are the Owner -
(Part 1, Line 26, column B or Part 2, Line 6)
Deduct the portion of the cost of complying with sulfur
regulations which have been allocated to you. Attach
the written notice of the allocation received from the
renery.
GENERAL FILING INFORMATION: FRANCHISE TAX
Franchise Tax Computation (continued)
The term “business done” means and includes the
engaging in any activity or the performing of any act or
acts in this state that constitutes the doing or transact-
ing of business. Business done in Oklahoma includes
sales shipped from Oklahoma to another state in which
the corporation is not doing business.
Intercompany payable and receivables between parent,
subsidiary and/or afliates, are to be eliminated from
the calculations necessary to determine the amount of
franchise tax due.
Oklahoma franchise (excise) tax is levied and assessed
at the rate of $1.25 per $1,000.00 or fraction thereof on
the amount of capital allocated or employed in Okla-
homa.
5
Don’t forget to sign and make a
copy of your return before mailing!
COMMON ERRORS
Below are the most common errors. To aid in
processing your return, please double check your
return carefully.
• Refunds must be made by direct deposit. Failure
to supply direct deposit information will delay the
processing of the refund.
• Check your FEIN on all forms and schedules.
• Fiscal year dates are a common problem. If you
le based on a scal year, please list dates on top of
form where indicated.
• Provide a complete copy of your federal return,
and all required schedules. Failure to do so can slow
down the processing of your return.
LINE BY LINE INSTRUCTIONS
6
Oklahoma Capital Gain Deduction:
(Part 1, Line 25, column B or Part 2, Line 6d)
Corporations can deduct qualifying gains receiving
capital treatment which are included in federal taxable
income. “Qualifying gains receiving capital treatment”
means the amount of the net capital gains, as dened
under IRC Section 1222(11). The qualifying gain must:
1) Be earned on real or tangible personal property
located within Oklahoma that you have owned,
either directly or indirectly, for at least ve
uninterrupted years prior to the date of the sale;
2) Be earned on the sale of stock or ownership
interest in an Oklahoma headquartered
company, limited liability company or
partnership where such stock or ownership
interest has been owned, either directly or
indirectly, by you for at least three uninterrupted
years prior to the date of the sale; or
3) Be earned on the sale of real property, tangible
personal property or intangible personal
property located within Oklahoma as part of the
sale of all or substantially all of the assets on an
Oklahoma company, limited liability company
or partnership where such property has been
directly or indirectly owned by such entity or
owned by the owners of such entity, and used
in or derived from such entity for a period of at
least three uninterrupted years prior to the date
of the sale.
Provide Form 561C and a copy of your Federal
Schedule D and Form 8949.
Agricultural Commodity Processing Facility
Exclusion:
(Part 1, Line 26, column B or Part 2, Line 6)
Owners of agricultural commodity processing facilities
may exclude 15% of their investment costs in a new
or expanded agricultural commodity processing facil-
ity located within Oklahoma. Agricultural commodity
processing facility means building, structures, xtures
and improvements used or operated primarily for the
processing or production of agricultural commodities to
marketable products. The investment is deemed made
when the property is placed in service.
Under no circumstances shall this exclusion lower your
taxable income below zero. In the event the exclusion
does exceed taxable income, any unused portion may
be carried over for a period not to exceed six years.
A schedule must be provided showing the type of
investment(s), the cost of the investment and the date
placed in service.
Captive Real Estate Investment Trusts:
(Part 1, Line 10, column B or Part 2, Line 2)
A captive real estate investment trust, which is sub-
ject to federal income tax, is required to add-back the
dividends-paid deduction otherwise allowed by federal
law in computing net income. 68 OS Sec. 2358.
GENERAL INSTRUCTIONS FOR DETERMINING OKLAHOMA TAXABLE INCOME, CONTINUED
Find Us On Social Media!
@Ok Tax Commission
@oktaxcommission
@ok.tax
Use OkTAP to File and
Pay Your Taxes
For more information, visit
http://oktap.tax.ok.gov
Access to file, pay, update, interact…
all on your time, anytime!
With OkTAP you can:
• File and pay taxes for your sales, withholding,
franchise and mixed beverage accounts along
with many more tax types
• View OTC returns, letters and notices
• Engage in secure messaging with OTC
representatives
• Order coin-operated device decals
• Register new businesses with the OTC
• Register a third-party preparer to manage
your account
LINE BY LINE INSTRUCTIONS: INCOME TAX
7
Part 1, Column A is to be completed by all corporations. All corporations start with Part 1.
Part 1, Column B is to be used by all corporations domesticated in Oklahoma deriving all of their income within
Oklahoma or by corporations whose business within and without Oklahoma is oil and gas production, mining, farm-
ing, income from pass-through entities or rental. This should be completed using the direct accounting method.
Income (loss) shall be allocated in accordance with the situs of such property. Overhead expense shall be allo-
cated on the basis of direct expense in Oklahoma to the total direct expense everywhere.
Line 5 - Interest on U.S. Government Obligations
If you report interest on bonds, notes, and other ob-
ligations of the U.S. on your federal return, it may be
excluded from your Oklahoma income if a detailed
schedule is furnished, accompanied with 1099s show-
ing the amount of interest income and the name of
the obligation from which the interest is earned. If the
income is from a mutual fund which invests in U.S. Gov-
ernment obligations, provide documentation from the
mutual fund to substantiate the percentage of income
derived from obligations exempt from Oklahoma tax.
Interest from entities such as FNMA & GNMA does
not qualify.
Line 6a - Other Interest
Accounts receivable interest income and interest in-
come from investments held to generate working capital
shall be allocated to Oklahoma on the basis of direct
expense.
All other intangible income (loss) shall be allocated in
accordance with the situs of the corporation.
Line 6b - State and Municipal Interest
Corporations domiciled in Oklahoma that receive
income on bonds issued by any state or political
subdivision thereof, exempt from federal taxation but
not exempt from taxation by the laws of the State of
Oklahoma, shall add the total of such income to arrive
at Oklahoma income.
1) Income from all bonds, notes or other
obligations issued by the State of Oklahoma,
the Oklahoma Capital Improvement Authority,
the Oklahoma Municipal Power Authority, the
Oklahoma Student Loan Authority and the
Oklahoma Transportation Authority (formerly
Turnpike Authority) is exempt from Oklahoma
income tax. The prot from the sale of such
bond, note or other obligations shall be free
from taxation.
Line 6b - State and Municipal Interest (continued)
2) Income from local Oklahoma governmental
obligations issued after July 1, 2001, other
than those provided for in 1, is exempt from
Oklahoma income tax. The exceptions are
those obligations issued for the purpose of
providing nancing for projects for nonprot
corporations. Local governmental obligations
shall include bonds or notes issued by, or
on behalf of, or for the benet of Oklahoma
educational institutions, cities, towns, or
counties or by public trusts of which any of the
foregoing is a beneciary.
3) Income from Oklahoma State and Municipal
Bonds issued prior to July 2, 2001, other
than those provided for in 1, is exempt from
Oklahoma income tax only if so provided by the
statute authorizing their issuance.
4) Income on bonds issued by another state or
political subdivision thereof (non-Oklahoma)
exempt from federal taxation is taxable for
Oklahoma income tax.
Provide a schedule of all municipal interest received by
source and amount. If the income is from a mutual fund
which invests in state and local government obligations,
provide documentation from the mutual fund to
substantiate the percentage of income derived from
obligations exempt from Oklahoma tax.
Note: If the interest is exempt, the capital gain/loss
from the sale of the bond may also be exempt. The
gain/loss from sale of a state or municipal bond, other
than those provided for in 1, is exempt only if so
provided by the statute authorizing its issuance.
Line 7 and 8 - Rents and Royalties
Income from real or tangible personal property, lease
royalty or bonus shall be allocated in accordance with
the situs of the property.
Line 9 - Gains or Losses
Gains or losses from the sale of leases and gains or
losses from the sale of real and tangible personal prop-
erty, shall be allocated in accordance with the situs of
the property.
PAGE THREE - PART 1
8
LINE BY LINE INSTRUCTIONS: INCOME TAX
Line 10 - Other Income (Column B)
Rents and interest expenses paid to a captive real
estate investment trust and deducted on your federal re-
turn must be added back to compute Oklahoma taxable
income. Such add-back is not required if the captive
real estate investment trust is subject to the add-back
for the dividends-paid deduction. See “Captive Real
Estate Investment Trusts” on page 6.
If you are a member, either directly or indirectly, of an
electing pass-through entity (PTE), please attach a
schedule listing the electing PTE, federal identication
number, federal taxable income (loss) and Oklahoma
taxable income (loss) in line 1 that is covered by the
election pursuant to the provisions of the Pass-Through
Entity Act of 2019 (68 OS §2355.1P-4).
Line 12 through 26 - Expenses
Expenses relative to the income above shall be allocat-
ed directly to that income.
PAGE FOUR - PART 2
Line 3 - Deductions
Income from U.S. obligations (see page 7, Part 1 in-
structions) and net income separately allocated (oil and
gas production, mining, farming, pass-through entities
or rentals) will be entered here. Gains or losses from
sale of intangible personal property which is directly al-
located should also be entered here.
Line 6 - Oklahoma Additions and Deductions
Income separately allocated to Oklahoma should be
entered here. (Examples: interest income from state
obligations or political subdivisions, oil and gas produc-
tion, mining, farming, rentals, the Oklahoma distribut-
able income from pass-throughs, etc.)
If you are a member, either directly or indirectly, of an
electing pass through entity (PTE), please attach a
schedule listing the PTE, federal identication number,
federal taxable income (loss) and Oklahoma taxable
income (loss) in line 1 that is covered by the election
pursuant to the provisions of the Pass-Through Entity
Act of 2019 (68 OS §2355.1P-4).
Part 2 is to be used by corporations conducting a
business of a unitary nature. A unitary business is one
whose income is derived from the conduct in more than
one state of a single business enterprise, all the factors
of which are essential to the realization of an ultimate
gain derived from the enterprise as a whole, and not
from its component parts which are too closely con-
nected and necessary to each other to justify division or
separate allocation.
Generally the resulting amount is apportioned to Okla-
homa based on the 3-factor formula. The basis of the
apportionment is the arithmetical average of three
factors consisting of property, payroll and sales. If less
than 3 factors are present, the resulting amount is ap-
portioned to Oklahoma on a 2-factor or single factor
formula consisting of the arithmetical average of the fac-
tors present. A factor is considered present if there is a
denominator.
NOTE: FACTORS ARE NOT COMPUTED FROM THE
CONSOLIDATED TOTALS. Each factor is a ratio of the
total within Oklahoma to the total everywhere. For in-
come apportioned to Oklahoma, there is to be added all
income separately allocated to Oklahoma with the result
being Oklahoma taxable income. 68 OS Sec. 2358.
Line 1 - Federal Taxable Income
Enter Net Taxable Income from Part 1, Column A, line 30.
Line 2 - Additions
Deductions relating to income which is separately al-
located shall not be allowed and will be entered here.
Rents and interest expenses paid to a captive real
estate investment trust and deducted on your federal re-
turn must be added back to compute Oklahoma taxable
income. Such add-back is not required if the captive
real estate investment trust is subject to the add-back
for the dividends-paid deduction. See “Captive Real
Estate Investment Trusts” on page 6.
Log on to our website at www.tax.ok.gov. Click on
the “Online Services” link to pay online.
You can pay the balance due by credit card. Payments
can be made for any tax year. Estimated income tax
payments are also accepted.
A convenience fee will be added to credit and debit
card transactions. For more information regarding
this service, please visit our website at www.tax.
ok.gov or call (405) 521-3160.
Make Your Payments by
Credit Card...
PAGE THREE - PART 1, CONTINUED
9
LINE BY LINE INSTRUCTIONS: INCOME TAX
Line 8 - Oklahoma Accrued Tax
Oklahoma accrued tax is computed by dividing line 7
(Oklahoma Net Income before Oklahoma Income Tax)
by the number 17.6667.
When ling a consolidated return, complete Form 512-
TI. The accrual of Oklahoma state income tax must be
made after the combination of the income and loss from
all companies included in the combination. The accrued
tax cannot be less than zero.
When credits are allowed, the accrual of Oklahoma tax
will not be allowed on the amount of Oklahoma taxable
income that is covered by the credit. Tax accrual is al-
lowed on the amount of income for which tax is actually
paid. The following example shows how the accrual
should be calculated. A schedule, like the example,
should be provided and submitted with Form 512.
Line 8 - Oklahoma Accrued Tax (continued)
Computation of Tax Accrual
When Tax Credits Are Allowable
1. Oklahoma income before tax accrual 100,000
2. Allowable Oklahoma credits 2,000
Computation of accrued tax allowed
A. Oklahoma income (Line 1 above) 100,000
B. Line 2 above divided by 6% 33,333
C. Subtract Line B from Line A 66,667
D. Divide Line C by 17.6667 3,774
(If Line D is less than 0, enter 0)
3. Subtract Line D from Line 1 above 96,226
(Enter Line 3 above on Page 1, Line 1 of your
Oklahoma corporation income tax Form 512)
Total tax due 5,774
Tax accrual allowed 3,774
Tax credit allowed 2,000
PAGE ONE - SECTION ONE: INCOME TAX
Line 2 - Tax
The income tax rate is 6%.
Recapture of Oklahoma Affordable Housing Tax Credit
If under IRC Section 42 a portion of any federal low-
income housing credits taken on a qualied project is
required to be recaptured during the rst 10 years after
a project is placed in service, the taxpayer claiming
Oklahoma Affordable Housing Tax Credits with respect
to such project shall also be required to recapture
a portion of such credits. The amount of Oklahoma
Affordable Housing Tax Credits subject to recapture
is proportionally equal to the amount of federal low-
income housing credits subject to recapture. Add the
recaptured credit to the Oklahoma income tax and enter
a “1” in the box.
Making an Oklahoma installment payment pursuant
to IRC Section 965(h)
If a taxpayer elected to make installment payments of
tax due pursuant to the provisions of subsection (h) of
Section 965 of the IRC, such election may also apply
to the payment of Oklahoma income tax, attributable to
the income upon which such installment payments are
based. Add the installment payment to the Oklahoma
income tax and enter a “2” in the box. Provide a sched-
ule of the tax computation. 68 O.S. Sec. 2368(K)
Line 3 - Other Credits
The amount of other credits as claimed on Form 511CR
should be entered on this line. Enter in the box the
number that corresponds with the credit to which you
are entitled. Enter “99” if entitled to more than one
credit. See below for a list of the credits available on
Form 511CR.
Line 3 - Other Credits (continued)
If you are claiming any of the credits on Form 511CR,
provide the form, and any applicable forms or sched-
ules, with your Form 512 return.
Form 511CR can be obtained from our website at www.
tax.ok.gov.
Tax credits transferred or allocated must be reported on
OTC Form 569. Failure to le Form 569 will result in the
affected credits being denied by the OTC pursuant to 68
OS Sec. 2357.1A-2.
• Oklahoma Investment/New Jobs Credit
Provide Form 506.
68 OS Sec. 2357.4 and Rule 710:50-15-74.
• Coal Credit
68 OS Sec. 2357.11 and Rule 710:50-15-76.
• Credit for Investment in a Clean-Burning Motor Ve-
hicle Fuel Property
Provide Form 567-A.
68 OS Sec. 2357.22 and Rule 710:50-15-81.
• Small Business Guaranty Fee Credit (for banks and
credit unions)
Provide Form 529.
68 OS Sec. 2370.1.
• Credit for Entities in the Business of Providing
Child Care Services
68 OS Sec. 2357.27.
• Credit for Tourism Development or Qualied Media
Production Facility
68 OS Sec. 2357.34 - 2357.40.
• Oklahoma Local Development and Enterprise Zone
Incentive Leverage Act Credit
68 OS Sec. 2357.81.
PAGE FOUR - PART 2, CONTINUED
10
LINE BY LINE INSTRUCTIONS: INCOME TAX
Line 7 - Oklahoma Withholding
1. Enter the Oklahoma income tax withheld from your
royalty payments.
2. Oklahoma income tax is withheld from distribu-
tions made by pass-through entities to nonresi-
dent members, unless such nonresident member
has led a withholding exemption afdavit (Form
OW-15). If you are a nonresident member of a
pass-through entity who has not led an afdavit,
Oklahoma income tax should have been withheld on
distributions of Oklahoma taxable income. Enter the
Oklahoma income tax withheld on your distribution.
Provide the Form 500-A, Form 1099-MISC, Form 500-B,
Form K-1 or other documentation to substantiate Okla-
homa withholding.
Line 8 - Refundable Credits
Place an “X” in the box(es) on line 8 to report any credit
from Form 577 or Form 578.
If claiming the Refundable Coal Credit, provide Form
577. Credits earned, but not used, based upon activity
occurring during the tax year will be refunded at 85% of
the face amount of the credits.
For any credit calculated,
the credit allowed is equal to 75% of the amount other-
wise provided.
A pass-through entity that does not le a
claim for a direct refund will allocate the credit to one or
more of its shareholders, partners or members.
If claiming the Refundable Credit for Electricity
Generated by Zero-Emission Facilities, provide Form
578. Credits earned, but not used, based on electricity
generated during the tax year may be refunded to the
taxpayer at 85% of the face amount of the credits. A
pass-through entity that does not le a claim for a direct
refund may allocate the credit to one or more of its
shareholders, partners or members.
Line 14 - Support the Oklahoma General Revenue
Fund and Public Classroom Support Fund
A donation to these funds may be made on a tax due
return. For more information regarding these funds, see
the instructions for Line 29, #3 and #8.
Line 3 - Other Credits (continued)
• Credit for Qualied Rehabilitation Expenditures
68 OS Sec. 2357.41 and Rule 710:50-15-108.
• Credit for Electricity Generated by Zero-Emission
Facilities
68 OS Sec. 2357.32A.
• Credit for Financial Institutions Making Loans under
the Rural Economic Development Loan Act
68 OS Sec. 2370.1.
• Credit for Manufacturers of Small Wind Turbines
68 OS Sec. 2357.32B and Rule 710:50-15-92.
• Credit for the Construction of Energy Efcient Homes
68 OS Sec. 2357.46 and Rule 710:50-15-104.
• Credit for Railroad Modernization
68 OS Sec. 2357.104 and Rule 710:50-15-103.
• Research and Development New Jobs Credit
Provide Form 563.
68 OS Sec. 54006 and Rule 710:50-15-105.
• Credit for Biomedical Research Contribution
68 OS Sec. 2357.45 and Rule 710:50-15-113.
• Credit for Employers in the Aerospace Sector
Provide Form 565.
68 OS Sec. 2357.301, 2357.302 and 2357.303 and
Rule 710:50-15-109.
• Wire Transfer Fee Credit
68 OS Sec. 2357.401 and Rule 710:50-15-111.
• Credit for Cancer Research Contribution
68 OS Sec. 2357.45 and Rule 710:50-15-113.
• Oklahoma Capital Investment Board Tax Credit
74 OS Sec. 5085.7.
• Credit for Contributions to a Scholarship-Granting
Organization
68 OS Sec. 2357.206 and Rule 710:50-15-114.
• Credit for Contributions to an Educational Improvement
Grant Organization
68 OS Sec. 2357.206 and Rule 710:50-15-115.
• Credit for Venture Capital Investment
Provide Form 518-A or 518-B.
68 OS Sec. 2357.7 & 8 and Rule 710:50-15-77 & 78.
• Oklahoma Affordable Housing Tax Credit
68 OS Sec. 2357.403.
• Credits for Employers in the Vehicle Manufacturing
Industry
Provide Form 585.
68 OS Sec. 2357.404 and Rule 710:50-15-116
Did you know Forms 512 and 512-S can be
electronically led? E-ling is the fastest and
easiest way to le your taxes.
Remember, e-filing is simple, safe, speedy and secure.
Visit www.tax.ok.gov to see which
software companies are approved for use.
E-file!
PAGE ONE - SECTION ONE: INCOME TAX, CONTINUED
LINE BY LINE INSTRUCTIONS: INCOME TAX
LINE BY LINE INSTRUCTIONS: FRANCHISE TAX
PAGES SIX THROUGH NINE - ANNUAL FRANCHISE TAX RETURN
Line 15 - Underpayment of Estimated Tax Interest
All corporations are required to make estimated tax
payments if the tax liability is $500 or more. To avoid the
20% Underpayment of Estimated Tax Interest, timely
led estimated tax payments are required to be equal
to the smaller of 70% of the current year tax liability or
100% of your prior year tax. The tax liability is the tax
due less all credits except amounts paid on estimated
tax and extension payments.
Place an “X” in the box if the underpayment of esti-
mated tax was computed using the annualized income
installment method.
Note: No Underpayment of Estimated Tax Interest shall
be imposed if the tax liability shown on the return is less
than $1,000. Provide Form OW-8-P.
Line 15 -
Underpayment of Estimated Tax Interest
(continued)
If an amended return is led before the due date for
ling the original return, including any extension, the tax
shown on the amended return is used to determine the
amount of underpayment. If the amended return is led
after the due date, including extension, the tax shown
on the amended return will not be used to compute the
amount of underpayment.
Line 16 - Delinquent Penalty and Interest
Interest at the rate of 1 1/4% per month shall be paid on
the tax due from the original due date until paid. 90% of
the tax liability must be paid by the original due date of
the return to avoid a delinquent penalty charge of 5%
for late payment.
NOTE: If a combined Corporate Income and Franchise Tax Return is not being filed, skip the “Franchise Tax
Instructions” and go to the “Page Two, Section Three: Total” instructions on page 13.
First Step...
Complete Balance Sheet and Schedules B, C & D on
Form 512, pages eight and nine. (Must be returned with
annual return)
Balance Sheet Instructions (page nine)
Lines 1 – 3
Cash, notes, accounts receivable, and inventories are to
be reported at book value.
Line 4
United States, municipal, commercial and other bonds
owned by the corporation.
Line 5
Prepaid expenses and deferred charges are to be in-
cluded as assets at book value.
Line 8
Stock or other evidence of ownership in subsidiary
organizations as shown on the corporation’s books of
account.
Lines 9b, 10b, 11b.
If accumulated depreciation and depletion appear to be
excessive, the excess may be disallowed.
Line 13
Patents, trademarks, copyrights, etc., and franchises are
to be included as assets to the extent of their cost. In the
case of a denite term franchise, the cost thereof may be
amortized over its life. Goodwill is an asset and should
Line 13 (continued)
be shown at book value. All intangibles, including cash,
are to be apportioned wholly to Oklahoma unless a
commercial or business location for the intangibles has
been established elsewhere.
Line 14
Life insurance, where the reporting taxpayer is bene-
ciary, is to be shown at cash surrender value.
Line 15
Total net amount of lines 6 through 14.
Line 18
Total lines 15, 16, and 17.
Line 20
Reserves for taxes are allowed to the extent such taxes
are unpaid. Deferred credits are included in capital em-
ployed unless they can be shown to be actual liabilities.
Line 21
Current liability includes indebtedness payable in three
(3) years or less after issuance.
Line 26
Stockholder loans must be repaid within three years of
creation to be considered a current liability. Contingent
assets or liabilities should not be included unless fully
explained and the condition under which they become
actual is clearly set forth.
11
PAGE ONE - SECTION ONE: INCOME TAX, CONTINUED
LINE BY LINE INSTRUCTIONS: FRANCHISE TAX
PAGE TWO - SECTION TWO: FRANCHISE TAX
Line 32
Total lines 23 through 31. The amounts as shown by
the books of account shall be the measure of value of
the assets and liabilities, except when the items on the
books of account are in error or lack sufcient detail to
truly reect the amount of capital invested and em-
ployed in the business.
Second Step...
Complete the Oklahoma Annual Franchise Tax Return
(Page six).
Item A: Place the taxpayer FEIN in Block A.
Item B: Enter the Account number issued by the Okla-
homa Tax Commission beginning with FRX followed by
ten digits. If no number has been issued, leave blank.
Item C: Place an “X” in the box if your mailing address
has changed. Write your new address in the space pro-
vided in Item C.
Item D: Enter your balance sheet date (MM/DD/YY) of
your most recent income tax accounting year. Do NOT
leave blank.
Lines 1-11 (except 9) are derived from your balance
sheet (page 9). Please put the date of the balance sheet
in box D.
Line 9 - Percent of Oklahoma Assets
Select which option you will use to determine the appor-
tionment of Oklahoma assets.
Option 1: Percent of Oklahoma assets and business
done to total assets and business done.
(line 6 divided by line 8). Round to six deci-
mal points.
Option 2: Percent of Oklahoma assets to total net as-
sets (line 1 divided by line 2). Round to six
decimal points.
Line 12 - Tax
Compute tax at $1.25 per $1,000.00 of capital. (Either
line 4 or line 11) If tax is more than $20,000.00 enter
$20,000.00 on line 12. You are exempt from paying tax
if your tax liability is $250.00 or less, however, a return
must still be led.
Note: Corporations paying the maximum franchise tax
of $20,000.00 this year will be required to le a stand-
alone franchise tax return (Form 200) next year. A com-
bined corporate income and franchise tax return will not
be allowed.
Line 13 - Registered Agent Fee
If the corporation originated in a state other than Okla-
homa, the Oklahoma Secretary of State charges an
annual registered agent fee of $100.00 and is collected
on the franchise tax return. Non-prot corporations
originating in another state will be sent Form 200-N
“Foreign Not-For-Prot Corporation Annual Franchise
Tax Return”.
Line 14 - Interest
Tax not paid by the original due date is subject to 1.25%
interest per month from the due date until it is paid.
Multiply the amount in Line 12 by .0125 for each month
the tax is unpaid.
Line 15 - Penalty
Tax not paid by the original due date is subject to a
penalty of 10%. Multiply the amount in Line 12 by .10 to
determine the penalty.
Line 16 - Reinstatement Fee
If your corporate charter has been suspended, you must
le a separate franchise return, Form 200, and meet all
outstanding ling and payment obligations in order to be
reinstated. A $150.00 reinstatement fee is also required.
Only one reinstatement fee is required even if multiple
past due returns are being led.
Note: To expedite the reinstatement of your corporation,
the fee can be paid online through your OkTAP franchise
account or by using our online payment service.
Line 17 - Previous Payment
• Enter any Estimated Franchise tax paid with Form
504-C.
• If ling an amended return, enter any Franchise tax
paid with the original return and amounts paid after
it was led.
Line 18 - Overpayment
Add the amounts from lines 12 through 16. If the result
is less than the amount on line 17, subtract line 17 and
enter the difference (overpayment) on line 18.
Line 19 - Total Due
Add the amounts from lines 12 through 16. If the result
is larger than the amount on line 17, subtract line 17 and
enter the difference (tax due) on line 19.
Third Step...
Schedule A: Officer Information (Page seven)
Enter the effective date of ofcers. Please refer to the
example on Schedule A. Failure to provide this informa-
tion could result in the corporation being suspended.
To complete lines 18-25, use the gures from page 6,
lines 12-19 or, if consolidated, use Form 512-FT.
12
PAGES SIX THROUGH NINE - ANNUAL FRANCHISE TAX RETURN, CONTINUED
LINE BY LINE INSTRUCTIONS: INCOME TAX AND FRANCHISE TAX
1
3
4
7
5
6
2
13
All corporations complete Section Three: Total
Combine Income Tax and Franchise Tax. If there is a
balance due, complete line 26. If there is an overpay-
ment, complete lines 27-31.
Line 29 - Donations
You have the opportunity to make a nancial gift from
your refund to a variety of Oklahoma organizations.
Enter the amount of your donation and place the line
number of the organization in the box on line 29 of Form
512. If you give to more than one organization, put a
“99” in the box and attach a schedule showing how you
would like your donation split.
Support of Programs for Volunteers to Act as
Court Appointed Special Advocates for Abused
or Neglected Children
You may donate from your tax refund to support pro-
grams for volunteers to act as Court Appointed Special
Advocates for abused or neglected children. Donations
will be placed in the Income Tax Checkoff Revolving
Fund for Court Appointed Special Advocates. Monies will
be expended by the Ofce of the Attorney General for the
purpose of providing grants to the Oklahoma CASA As-
sociation. If you are not receiving a refund, you may still
donate. Mail your contribution to: Oklahoma CASA Asso-
ciation, Inc., P.O. Box 54946, Oklahoma City, OK 73154.
Indigent Veteran Burial Program
You may donate from your tax refund for the benet of
the Oklahoma Department of Veterans Affairs Indigent
Veteran Burial Program. Monies will be expended by
the Oklahoma Department of Veterans Affairs to pro-
vide reimbursement to a cemetery or funeral home for
costs incurred burying an indigent veteran; provided,
the maximum reimbursement shall not exceed $500 per
veteran. If you are not receiving a refund, you may still
donate. Mail your contribution to: Oklahoma Depart-
ment of Veterans Affairs, P.O. Box 53067, Oklahoma
City, OK 73152.
Support the Oklahoma General Revenue Fund
You may donate for the benet of the General Revenue
Fund of the State of Oklahoma. Appropriation of such
funds will be subject to the provisions of Section 23 of
Article X of the Oklahoma Constitution. Expenditures
from the fund will be made upon warrants issued by the
State Treasurer against claims led as prescribed by
law with the Director of the Ofce of Management and
Enterprise Services for approval and payment.
Oklahoma Emergency Responders Assistance
Program
You may donate from your tax refund for the benet of
the Oklahoma Emergency Responders Assistance Pro-
gram. Monies will be expended by the Department of
Public Safety for the purpose of providing grants to the
Program for post critical incident care to all emergency
rst responders and their families who are experiencing
emotional trauma. If you are not receiving a refund, you
may still donate. Mail your contribution to: Oklahoma
Department of Public Safety, Finance Department, Re:
Oklahoma Emergency Responders Assistance Program,
P.O. Box 11415, Oklahoma City, OK 73136-0415.
Support of Folds of Honor Scholarship Program
You have the opportunity to donate from your tax refund
to support the Folds of Honor Foundation. Folds of
Honor is a 501(c)(3) charitable organization that provides
scholarships for K through 12 and post-secondary edu-
cation for children and spouses of military service men
and women fallen or disabled while serving on active
duty. If you are not receiving a refund, you may still do-
nate to Folds of Honor. Mail your contribution to: Folds
of Honor Foundation, 5800 North Patriot Drive, Owasso,
OK 74055.
Support the Wildlife Diversity Fund
Your donation will help conserve rare or declining sh
and wildlife along with common species not hunted or
shed. Donations to the Oklahoma Department of Wild-
life Conservation’s Wildlife Diversity program supports
eld surveys of animals considered to be of greatest
conservation need, as well as educational wildlife pro-
grams for all Oklahomans. Tax deductible donations to
the Wildlife Diversity Fund also can be made at wild-
lifedepartment.com or by mail: P.O. Box 53465, Okla-
homa City, Oklahoma 73152.
Support of Programs for Regional Food Banks in
Oklahoma
You may donate from your tax refund for the benet of
the Regional Food Bank of Oklahoma and the Com-
munity Food Bank of Eastern Oklahoma (Oklahoma
Food Banks). The Oklahoma Food Banks are the largest
hunger-relief organizations in the state – distributing
food to charitable and faith-based feeding programs
throughout all 77 counties in Oklahoma. Your dona-
tion will be used to help provide food to the more than
500,000 Oklahomans at risk of hunger on a daily basis.
If you are not receiving a refund, you may still donate.
Mail your contribution to: Oklahoma Department of Hu-
man Services, Revenue Processing Unit, Re: Programs
for OK Food Banks, P.O. Box 248893, Oklahoma City,
OK 73124.
PAGE TWO - SECTION THREE: TOTAL
LINE BY LINE INSTRUCTIONS: INCOME TAX AND FRANCHISE TAX
PAGE TWO - SECTION THREE: TOTAL
Public School Classroom Support Fund
Donations to the Public School Classroom Support
Revolving Fund will be used by the State Board of Edu-
cation to provide one or more grants annually to public
school classroom teachers. Grants will be used by the
classroom teacher for supplies, materials or equipment
for the class or classes taught by the teacher. Grant ap-
plications will be considered on a statewide competitive
basis. You may also mail a donation to: Oklahoma State
Board of Education, Public School Classroom Support
Fund, Ofce of the Comptroller, 2500 North Lincoln
Boulevard, Room 415, Oklahoma City, OK 73105-4599.
Oklahoma Pet Overpopulation Fund
You may donate from your tax refund for the benet of
the Oklahoma Pet Overpopulation Fund. Monies placed
in this fund will be expended for the purpose of devel-
oping educational programs on pet overpopulation and
for implementing spay/neuter efforts in this state. If you
are not receiving a refund, you may still donate. Mail
your contribution to: Oklahoma Department of Agricul-
ture, Food and Forestry, Animal Industry Division, 2800
North Lincoln Blvd., Oklahoma City, OK 73105.
Support the Oklahoma AIDS Care Fund
You may donate from your tax refund for the benet of
the Oklahoma AIDS Care Fund. Monies will be ex-
pended by the Department of Human Services for the
purpose of providing grants to the Fund for purposes of
emergency assistance, advocacy, education, preven-
tion and collaboration with other entities. If you are not
receiving a refund, you may still donate. Mail your con-
tribution to: Oklahoma Department of Human Services,
Revenue Processing Unit, Re: OK Aids Care Fund, P.O.
Box 248893, Oklahoma City, OK 73124.
Line 31 - Refund
Complete the direct deposit section on the tax return to
have the refund deposited into your account at a bank
or other nancial institution. See “Direct Deposit Infor-
mation” for detail.
• In the event that you owe taxes, provide a check or
money order payable to “Oklahoma Tax Commission”.
Enclose a completed Form EF-V with your payment if
mailing separate from your return.
• Payments may also be made electronically online.
Log on to www.tax.ok.gov and visit the “Online
Services” section.
• When complete, make copies of all the documents for
your records.
• Do not provide any correspondence other than those
documents and schedules required for your return.
WHEN YOU ARE FINISHED
• For proper account application, please do not provide
any estimated payments and/or vouchers with this re-
turn. Mail tax year 2020 estimated payments separately.
• Return must be signed.
• Mail the original return along with any payment
due to:
Oklahoma Tax Commission
Income Tax
PO Box 26800
Oklahoma City, OK 73126-0800
108
9
14
15
HOW TO CONTACT THE OKLAHOMA TAX COMMISSION
Whether you need a tax form,
have a question or need further information,
there are many ways to reach us.
The Oklahoma Tax Commission is not required to give actual notice to taxpayers of changes in any state tax law.
Federal Employer Identification Number (FEIN): The request for your FEIN is authorized by Section 405, Title 42, of the United States Code.
You MUST provide this information. It will be used to establish your identity for tax purposes only.
Office Locations!
Oklahoma City
2501 North Lincoln Boulevard
Tulsa
440 South Houston, 5th Floor
(This location accepts online electronic payments only)
Give Us a Call!
Taxpayer Service Center
(405) 521-3160
Visit Us on the Web!
You’ll nd a wealth of information on our website,
including:
• Downloadable tax forms
• Answers to common questions
• Online ling options for both income and business
taxes
www.tax.ok.gov
DIRECT DEPOSIT INFORMATION
ABC Corporation
123 Main Street
Anyplace, OK 00000
1234
ANYPLACE BANK
Anyplace, OK 00000
For
PAY TO THE
ORDER OF
$
15-0000/0000
DOLLARS
:120120012 : 2020268620 1234
Routing
Number
Account
Number
SAMPLE
SAMPLE
Note: The routing
and account numbers
may appear in
different places on
your check.
Place an ‘X’ in the appropriate box as to whether the refund will be going into a checking or savings
account. Please keep in mind you will not receive notication of the deposit.
Fill out the routing number. The routing number must be nine digits. Using the sample check shown below,
the routing number is 120120012. If the rst two digits are not 01 through 12 or 21 through 32, the direct
deposit will fail to process.
Enter your account number. The account number can be up to 17 characters (both numbers and
letters). Include hyphens but omit spaces and special symbols. Enter the number from left to right
and leave any unused boxes blank. On the sample check shown below, the account number is
2020268620.
1
2
3
Please Note: The OTC is not responsible if a nancial institution refused a direct deposit. If a direct deposit is
refused, a check will be issued to the address shown on the tax return.
WARNING! Due to electronic banking rules, the OTC will NOT allow direct deposits to or through foreign nancial
institutions. If you use a foreign nancial institution, you will be issued a paper check.
Complete the direct deposit section on the tax return to have the refund directly deposited into your account at a
bank or nancial institution. Refunds, with limited exceptions, must be made by direct deposit.
The Oklahoma Tax Commission is not required to give actual notice to taxpayers of changes in any state tax law.
Corporation Income and
Franchise Tax Return
B. Business Code Number
Place an ‘X’ if: (1) Initial return (2) Final return (3) Amended return (See Schedule 512-X on page 10)
A. Federal Employer
Identication Number
If you have applied for an extension
from the IRS, place an ‘X’ here and
provide a copy.
TYPE OF RETURN FILED
EXTENSION
Oklahoma or
Federal or
(page 3 of
instructions)
Separate Consolidated
Name of Corporation:
Street Address:
City, State or Province, Country and ZIP or Foreign Postal Code:
Form 512
2019
For the year January 1 - December 31, 2019, or other taxable year
beginning:
2019
ending:
,
,
STATE OF INCORP
Okla
Other
1 Oklahoma taxable income (as shown on Part 1 or 2, or if consolidated, from Form 512-TI) ................... 1
2 Tax: 6% of line 1 (If recapturing the Oklahoma Affordable Housing Tax Credit, add the recaptured credit here and
enter a “1” in the box. If making an Oklahoma installment payment pursuant to IRC Sec. 965(h) and 68 O.S. Sec.
2368(K), add the installment payment here and enter a “2” in the box) ........................................ .... 2
3 Less: Other Credits Form (total from Form 511CR) (see instructions) .............................. .... 3
4 Balance of tax due (line 2 minus line 3, but not less than zero) ............................................................... 4
5 2019 Oklahoma estimated tax payments (i.e. Form(s) OW-8-ESC and
prior year overpayment carryforward) ............................................................5
6 Amount paid with extension request ..............................................................6
7 Oklahoma withholding
(provide Form 1099, 500-A or other withholding statement)
.. 7
8 Refundable Credits from Form ....................... a) 577 .........b) 578 .....
8
9 Amount paid with original return and amount paid after it was led
(amended return only) ....................................................................................9
10 Any refunds or overpayment applied (amended return only) .......................10
11 Total of lines 5 through 10 ...................................................................................................................... 11
12 Overpayment (line 11 minus line 4) ............................................................................Overpayment 12
$
Notice:
Enter the amount of Oklahoma net operating loss as shown on
Part 1, line 29(a) or Part 2, line 6(e) ..........................Loss year(s): .......
( )
SECTION ONE: INCOME TAX
13 Tax Due (line 4 minus line 11) ................................................................................ Income Tax Due 13
14 (a) Donation: Support the Oklahoma General Revenue Fund .............................................................. 14a
(b) Donation: Public School Classroom Support Fund ........................................................................ 14b
15 Underpayment of estimated tax interest ........................................................................Annualized 15
16 For delinquent payment add penalty of 5% ...................... $ ______________________________ plus
interest of 1.25% per month ................................................ $ ______________________________ ......... 16
17 Total tax, penalty and interest
(add lines 13 - 16) .................................................................................... Income Tax Balance Due 17
Notice: Corporations should NOT complete the franchise tax portion of the return for the following:
• Filing a stand-alone Oklahoma Annual Franchise Tax Return (Form 200).
• Not required to file a franchise return.
• Remitted the maximum amount of franchise tax for the preceding tax year.
State of Oklahoma
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2019 Form 512 - Page 2
Corporation Income and Franchise Tax
Place an “X” here if filing a combined corporate income and franchise tax return
and complete Section Two. Corporations filing a Form 200 will skip Section Two and
complete Section Three.
SECTION TWO: FRANCHISE TAX
18 Tax ...........................................................................................................................................................18
19 Registered Agents Fee ............................................................................................................................19
20 Interest .....................................................................................................................................................20
21 Penalty .....................................................................................................................................................21
22 Reinstatement Fee ..................................................................................................................................22
23 Previous Payment ...................................................................................................................................23
24 Overpayment ...................................................................................... Franchise Tax Overpayment 24
25 Total Due .....................................................................................................Franchise Tax Balance 25
To complete lines 18 - 25, use the figures from page 6, lines 12-19 or, if consolidated, use Form 512-FT.
Balance Due
26 Total Balance Due.......................................................................................................Balance Due 26
Is this refund going to or through an account that is located outside of the United States?
Yes No
Routing
Number:
checking account savings account
Account
Number:
Deposit my refund in my:
Direct Deposit Note:
All refunds must be by direct deposit.
See Direct Deposit Information on
page 15 of the 512 Packet for details.
Line 29 provides you the opportunity to make a financial gift from your refund to a variety of Oklahoma
organizations. Place the line number of the organization from the line 29 instructions in the box below
and enter the amount you are donating. If giving to more than one organization, put a “99” in the box
and attach a schedule showing how you would like your donation split.
If the Oklahoma Tax Commission may discuss this return with your tax preparer, place an ‘X’ here:
Under penalties of perjury, I declare I have examined this return, including any accompanying schedules and statements, and to the best of my knowledge and belief,
it is true, correct and complete. If prepared by person other than the taxpayer, this declaration is based on all information of which preparer has any knowledge.
Corporate
Seal
Signature of Ofcer Date
Printed Name of Ofcer
Title
Signature of Preparer Date
Printed Name of Preparer
Phone Number Preparer’s PTIN
Make check payable to the
Oklahoma Tax Commission
Provide a copy of Federal return - Remit to Oklahoma Tax Commission - Post Office Box 26800 - Oklahoma City, OK 73126-0800
Overpayment
27 Total Overpayment ................................................................................................................................. 27
28 Amount of line 27 to be credited to 2020 estimated income tax
(original return only) ......................................................................................28
29 Donations from your refund ........ $2 $5 $ ____________ 29
30 Total (add lines 28 and 29) .........................................................................................................................................30
31 Amount of line 27 to be refunded to you (line 27 minus line 30) .......................................................Refund 31
Phone Number
Name shown
on Form 512:
Federal Employer
Identication Number:
SECTION THREE: TOTAL -
All corporations complete Section Three. Combine Income Tax and Franchise Tax. If there is a net
balance due, complete line 26. If there is a net overpayment, complete lines 27-31.
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12 Compensation of ofcers ......................................................................................... 12
13 Salaries and wages .................................................................................................. 13
14 Repairs ..................................................................................................................... 14
15 Bad debts ................................................................................................................. 15
16 Rents ........................................................................................................................ 16
17 Taxes ........................................................................................................................ 17
18 Interest ...................................................................................................................... 18
19 Charitable Contributions .......................................................................................... 19
20 Depreciation ............................................................................................................. 20
21 Depletion (see instructions below) ........................................................................... 21
22 Advertising ................................................................................................................ 22
23 Pension, prot-sharing plans, etc. ........................................................................... 23
24 Employee benet programs ..................................................................................... 24
25 Oklahoma Capital Gain Deduction (provide Form 561C) ......................................... 25
26 Other deductions (provide schedule) ....................................................................... 26
27 Total Deductions (add lines 12 through 26) ............................................................ 27
Has the Internal Revenue Service redetermined your tax liability for prior years? Yes No What years? ______________________
Did you le amended returns for the years stated above? Yes No N/A
Has the statute of limitations been extended by consent for any prior years? Yes No What years? ______________________
Business name _______________________________________________________ Date business began in Oklahoma __________________
Principal location(s) in Oklahoma __________________________________________________________________________________________
Give name, address and relationship of all afliated corporations - provide Federal Form 851
________________________________________________________________________________________________________________________
________________________________________________________________________________________________________________________
1 Gross receipts or gross sales ____________________ (less: returns and allowances).................. 1
2 Less: Cost of goods sold ........................................................................................ 2
3 Gross prot (line 1 minus line 2) ............................................................................... 3
4 Dividends .................................................................................................................. 4
5 Interest on obligations of the United States and U.S. Instrumentalities .................. 5
6 (a) Other interest ...................................................................................................... 6a
(b) Municipal interest ............................................................................................... 6b
7 Gross rents ............................................................................................................... 7
8 Gross royalties .......................................................................................................... 8
9 (a) Net capital gains ................................................................................................. 9a
(b) Ordinary gain or [loss] ........................................................................................ 9b
10 Other income (provide schedule) ............................................................................. 10
11 Total income (add lines 3 through 10) ..................................................................... 11
Gross Income (lines 1 through 11)
Part 1, Column B is for corporations whose income is all within Oklahoma and/or for corporations whose income
is partly within and partly without Oklahoma (not unitary). Provide a complete copy of your Federal return.
Deductions (lines 12 through 27)
Totals (lines 28 through 30)
Important: All applicable lines and schedules must be lled in.
Note: Indicate method used to allocate expenses to Oklahoma and provide schedule of computations.
Oklahoma Depletion in Lieu of Federal Depletion - Oklahoma depletion on oil and gas may be computed at 22% of gross income derived
from each Oklahoma property during the taxable year. Major oil companies, as dened in 52 Oklahoma Statutes Section 288.2, when computing Oklahoma depletion shall be
limited to 50% of the net income (computed without the allowance for depletion) from each property. Depletion schedule by property must be provided with return. Note:
General and administrative expense (computed on basis of Oklahoma direct expense to total direct expense) must be deducted before applying the 50% test.
PART 1
Address City State Zip
Location of Principal Accounting Records
ADDITIONAL INFORMATION
28 Taxable income before net operating loss deductions and special deductions ...... 28
29 Less: (a) Net operating loss deduction (schedule) .................................................
29a
(b) Special deductions ...................................................................................
29b
30 Taxable income (line 28 minus lines 29a & b). Enter Column B on page 1, line 1 ......... 30
Name shown
on Form 512:
Federal Employer
Identication Number:
2019 Form 512 - Page 3
Corporation Income Tax
Column A
As reported on
Federal Return
Column B
Total applicable
to Oklahoma
1 Value of real and tangible personal property used in
the unitary business (by averaging the value at the
beginning and ending of the tax period).
(a) Owned property (at original cost):
(i) Inventories ..................................................1ai
(ii) Depreciable property .................................1aii
(iii) Land ..........................................................1aiii
(iv) Total of section “a” .................................. 1aiv
(b)
Rented property (capitalize at 8 times net rental paid)..... 1b
(c) Total of sections “a” and “b” above ..................... 1c
2 (a) Payroll ...............................................................2a
(b) Less: Ofcer salaries ....................................... 2b
(c) Total (subtract ofcer salaries from payroll) ......... 2c
3 Sales:
(a) Sales delivered or shipped to Oklahoma purchasers:
(i) Shipped from outside Oklahoma ...................3ai
(ii) Shipped from within Oklahoma ....................3aii
(b) Sales shipped from Oklahoma to:
(i) The United States Government..................... 3bi
(ii) Purchasers in a state or country where the
corporation is not taxable (i.e. under Public Law 86-272) 3bii
(c) Total all of sections “a” and “b” ........................... 3c
4 If Revenue, Trafc Units or Miles Traveled is used rather than Sales, indicate here: _________________________________________
5 Total percent (sum of items 1, 2 and 3) ........................................................................................................5
6 Average percent (1/3 of total percent) (Carry to Part 2, line 5) ..................................................................... 6
Part 2 is for computation of Oklahoma taxable income of a unitary enterprise. [Section 2358(A)(5)] Provide a com-
plete copy of your Federal return.
APPORTIONMENT FORMULA
1 Net taxable income from Part 1, Column A, line 30 1
2 Add: (a) Taxes based on income ................................................................2a
(b) Federal net operating loss deduction .......................................... 2b
(c) Unallowable deduction (provide schedule) ...................................2c
(d) ____________________________________ ................................. 2d
(e) ____________________________________ ..................................2e
(f) Total of lines 2a through 2e 2f
3 Deduct all items separately allocated
(a) ____________________________________ ..................................3a
(b) ____________________________________ ................................. 3b
(c) ____________________________________ ..................................3c
(d) ____________________________________ ................................. 3d
(e) ____________________________________ ..................................3e
(f) Total of lines 3a through 3e 3f
(Note: Items listed in 2 and 3 above must be net amounts supported
by schedules showing source, location, expenses, etc.)
4 Net apportionable income 4
5 Oklahoma’s portion thereof ___________________ %, from schedule below 5
6 Add or deduct items separately allocated to Oklahoma (provide schedule)
(a) ____________________________________________ ..................................6a
(b) ____________________________________________ ................................. 6b
(c) ____________________________________________ ..................................6c
(d) Oklahoma Capital Gain deduction (provide Form 561C) .......................... 6d
(e) Oklahoma net operating loss deduction ....................................................6e
7 Oklahoma net income before tax (add lines 5 and 6) 7
8 Oklahoma accrued tax (see instructions) 8
9 Oklahoma taxable income, line 7 less line 8 (enter on page 1, line 1) 9
$
$
$
$
( )
( )
$
$
$
$
$
$
$
PART 2
$ $ %
%
%
%
%
$ $
$ $
Name shown
on Form 512:
Federal Employer
Identication Number:
2019 Form 512 - Page 4
Corporation Income Tax
Column A
Total Within
Oklahoma
Column B
Total Within and
Without Oklahoma
Column C
(A divided by B)
Percent Within
Oklahoma
1 Cash ............................................................. 1
2 Trade notes and accounts receivable .......... 2
(a) Less allowance for bad debts ................2a
3 Inventories ................................................... 3
4 Gov’t obligations:
(a) U.S. and instrumentalities ......................4a
(b) State, subdivision, thereof, etc ............. 4b
5 Other current assets (provide schedule) ...... 5
6 Loans to shareholders ................................. 6
7 Mortgage and real estate loans ................... 7
8 Other investments (provide schedule) ......... 8
9
Buildings and other xed depreciable assets
. 9
(a) Less accumulated depreciation .............9a
10 Depletable assets .......................................10
(a) Less accumulated depletion ................10a
11 Land (net of any amortization) ....................11
12 Intangible assets (amortization only)...........12
(a) Less accumulated amortization ...........12a
13 Other assets (provide schedule) .................13
14 Total assets .................................................14
(A) Amount (B) Total (C) Amount (D) Total
BEGINNING OF TAXABLE YEAR
( ) ( )
SCHEDULE OK M-1: RECONCILIATION OF INCOME PER BOOKS WITH INCOME PER RETURN
1 Net income (loss) per books ........................ 1
2 Federal income tax ...................................... 2
3 Excess of capital losses over capital gains . 3
4 Taxable income not recorded on books this
year (provide schedule) ................................ 4
5 Expenses recorded on books this year not
deducted in this return (provide schedule)
(a) Depreciation $ ______________________
(b) Depletion $ ______________________
(c) Other _______________________________
____________________________________
(d) Total of lines 5a, 5b and 5c ................... 5d
6 Total of lines 1 through 4 and 5d ................. 6
7 Income recorded on books this year not
included in this return (provide schedule)
(a) Tax exempt interest $ _________________
(b) Other $ _________________
(c) Total of lines 7a and 7b .......................... 7c
8 Deductions in this tax return not charged
against book income this year (provide schedule)
(a) Depreciation $ _______________________
(b) Depletion $ _______________________
(c) Other _______________________________
(d) Total of lines 8a, 8b and 8c .................... 8d
9 Total of lines 7c and 8d ................................. 9
10 Net income: line 6 less line 9 ....................... 10
1 Balance at beginning of year ....................... 1
2 Net income (loss) per books ........................ 2
3 Other increases (provide schedule)
_______________________________________
______________________________________ 3
4 Total of lines 1, 2 and 3 ................................ 4
5 Distributions: (a) Cash .............................. 5a
(b) Stock ............................. 5b
(c) Property ........................ 5c
6 Other decreases (provide schedule)
_______________________________________ 6
7 Total of lines 5 and 6 ..................................... 7
8 Balance at end of year (line 4 less line 7) ...... 8
BALANCE SHEETS
SCHEDULE OK M-2: ANALYSIS OF UNAPPROPRIATED RETAINED EARNINGS PER BOOKS (LINE 24 ABOVE)
15 Accounts payable .......................................15
16
Mtgs-notes-bonds payable in less than1 yr
.16
17
Other current liabilities (provide schedule)
....17
18 Loans from shareholders ............................18
19
Mtgs-notes-bonds payable in 1 yr. or more
..19
20 Other liabilities (provide schedule) ..............20
21 Capital stock: (a) preferred stock ...........21a
(b) common stock ............ 21b
22 Paid-in capital surplus (provide reconciliation) ....22
23
Retained earnings-appropriated (provide sch.)
..23
24 Retained earnings-unappropriated .............24
25
Adjustments to shareholders’ equity (provide sch.) 25
26 Less cost of treasury stock .........................26
27 Total liabilities and shareholders’ equity .....27
END OF TAXABLE YEAR
PART 3
Name shown
on Form 512:
Federal Employer
Identication Number:
2019 Form 512 - Page 5
Corporation Income Tax
12. Tax (See instructions) (If less than $250, enter 0) ..........................................................12 =
13. Registered Agents Fee ($100.00 - See instructions) .....................................................13 +
14. Interest ..........................................................................................................................14 +
15. Penalty ..........................................................................................................................15 +
16. Reinstatement Fee ($150.00 - See instructions) ...........................................................16 +
17. Previous Payment ..........................................................................................................17 -
18. Overpayment ................................................................................................................ 18 =
19. Total Due ......................................................................................................................19 =
1. Total Net Assets in Oklahoma (Franchise Tax Balance Sheet: Line 15, Column B) ...........1
2. Total Net Assets (Franchise Tax Balance Sheet: Line 15, Column A)
If all assets are in Oklahoma, enter “0” ..............................................................................2
3. Total Current Liabilities (Franchise Tax Balance Sheet: Line 23)
If line 2 is zero, complete line 4. If line 2 is not zero, complete lines 5-11 .................. 3
4. Capital Employed in Oklahoma (line 1 minus line 3)
Round to next highest $1000. If line 4 is completed, skip to line 12............................4
5. Total Gross Business Done by Corporation in Oklahoma
(Franchise Tax Balance Sheet: Line 34) .............................................................................5
6. Total Value of Assets and Business Done in Oklahoma (Total of lines 1 and 5) ................. 6
7. Total Gross Business Done by Corporation (Franchise Tax Balance Sheet: Line 33) ........ 7
8. Total Value of Assets and Business Done (Total of lines 2 and 7) ......................................8
9. Percentage of Oklahoma Assets (See instructions)
Check appropriate Box: Option1 Option 2 .......................................9
10. Value of Capital Subject to Apportionment (Line 2 minus line 3) ..................................... 10
11. Capital Apportioned to Oklahoma (Line 10 multiplied by line 9)
Round to the next highest $1000 ..................................................................................... 11
Franchise Tax Worksheet
Dollars
Dollars
Cents
Cents
.00
.00
%
-Office Use Only-
D. Balance Sheet Date (MM/DD/YY)
A. Taxpayer FEIN
Name
Address
City, State or Province, Country and Postal Code
C. Mailing Address Change
C. New Mailing Address
City, State or Province, Country and Postal Code
B. Account Number
2019 Form 512 - Page 6
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Schedule A: Current Officer Information
NOTE: Inclusion of Officers Is Mandatory.
Corporate Officers Effective as of
____________________ Are as Follows:
(Date)
Please include Social Security Numbers of officers.
710:1-3-6. Use of Federal Employer Identification Numbers and other identification numbers mandatory
All returns, applications, and forms required to be led with the Oklahoma Tax Commission in the administration of this State’s tax
laws shall bear the Federal Employer’s Identification Number(s), the Taxpayer Identification Number, and/or other government
issued identication number of the person, rm, or corporation ling the item and of all persons required by law or agency rule to be
named or listed.
[Source: Amended at 32 Ok Reg 1330, eff 8-27-15]
710:1-3-8. Confidentiality of records
All Federal Employer’s Identication and/or Social Security Account Numbers are deemed to be included in the condential records of
the Commission.
Schedule A: Current Officer Information
The ofcers listed below should be those whose term was in effect as of the close of the income tax year. Be sure to
include names, addresses, and Social Security Numbers.
Franchise Tax
Taxpayer Name FEIN Account Number
1. Name (First, MI, Last) Social Security Number
Home Address (street and number) Daytime Phone (area code and number)
City, State or Province, Country and Postal Code Title
2. Name (First, MI, Last) Social Security Number
Home Address (street and number) Daytime Phone (area code and number)
City, State or Province, Country and Postal Code Title
3. Name (First, MI, Last) Social Security Number
Home Address (street and number) Daytime Phone (area code and number)
City, State or Province, Country and Postal Code Title
4. Name (First, MI, Last) Social Security Number
Home Address (street and number) Daytime Phone (area code and number)
City, State or Province, Country and Postal Code Title
2019 Form 512 - Page 7
This page contains Schedules B, C, and D for the completion of the Oklahoma Annual Franchise Tax Return. Provide additional pages
if further space is needed on Schedules C and D.
Schedule B
General Information (to be completed in detail)
If the business is not a “corporation,” list the type of business structure, the date of formation, and county in which led.
Name and address of Oklahoma “registered agent”
Name of parent company if applicable: FEIN:
Percent of outstanding stock owned by the parent company, if applicable: %
In detail, please list the nature of business:
• Amount of authorized capital stock or shares:
(a) Common: shares, par/book value of each share $ $
(b) First Preferred: shares, par/book value of each share $ $
• Total capital stock or shares issued and outstanding at the end of scal year:
(a) Common: shares, par/book value of each share $ $
(b) First Preferred: shares, par/book value of each share $ $
Schedule C
Related Companies: Subsidiaries and Affiliates
• subsidiaries (Companies in which you own 15 percent or more of the outstanding stock)
Name of Subsidiary
FEIN Percentage Owned (%) Financial Investment ($)
• affiliates (Companies related other than by direct stock ownership)
Name of Afliate
FEIN How related?
Schedule D
Details of Current Debt shown on Balance Sheet
Original Amount
Name of Lender Original Date of Issuance Maturity Date of Instrument
Balance remaining of
amounts payable within 3
years of Date of Issuance
Schedules B, C and D
Franchise Tax
Taxpayer Name FEIN
2019 Form 512 - Page 8
Column CColumn BColumn A
Assets
Liabilities and
Stockholders’
Equity
Total Everywhere as per
Books of Account.
If all Property is in
Oklahoma,
Do Not Use this Column.
Total in Oklahoma
as per Books
of Account.
Total Everywhere as per
Books of Account.
1. Cash .......................................
2. Notes and accounts receivable
3. Inventories ..............................
4. Government obligations and
other bonds ...........................
5. Other current assets
(please provide schedule) .......
6. Total Current Assets
(add lines 1A-5A and 1B-5B) .
7. Mortgage and real estate loans
8. Other investments
(please provide schedule) .......
9. (a) Building ..............................
(b) Less accumulated
depreciation ........................
10. (a) Fixed depreciable assets ..
(b) Less accumulated
depreciation .......................
11. (a) Depletable assets .............
(b) Less accumulated
depletion ............................
12. Land .....................................
13. (a) Intangible assets ..............
(b) Less accumulated
amortization ......................
14. Other assets .........................
15. Net Assets ...........................
16. Inter-company receivables:
(a) From parent company .....
(b) From subsidiary company
(c) From afliated company .
17. Bank holding company
stock in subsidiary bank .......
18. TOTAL ASSETS ...................
19. Accounts payable ....................
20. Accrued payables ....................
21. Indebtedness payable
three years or less after
issuance
(see schedule D) ......................
22. Other current liabilities.............
23. Total Current Liabilities .........
24. Inter-company payables
(a) To parent company .............
(b) To subsidiary company.......
(c) To afliated company ..........
25. Indebtedness maturing and
payable in more than three
years from the date of issu-
ance .........................................
26. Loans from stockholders not
payable within three years .......
27. Other liabilities .........................
28. Capital Stock
(a) Preferred stock ....................
(b) Common Stock ...................
29. Paid-in or capital surplus
(provide reconciliation) .............
30. Retained earnings ...................
31. Other capital accounts ............
32. Total Liabilities and
Stockholders’ Equity .............
(Lines 23-31)
33. Total gross business done
everywhere
(sales and service) .................
(from income tax return)
34. Total gross business
done in Oklahoma
(sales and service) .................
(from income tax return)
(Lines: 6-14)
(Lines: 19-22)
(Lines: 15-17)
Balance Sheet
Franchise Tax
Taxpayer Name FEIN As of the Last Income Tax Year Ended: (MM/DD/YY)
This page contains the Balance Sheet which completes the Oklahoma Annual Franchise Tax Return.
2019 Form 512 - Page 9
Schedule E
Schedule 512-X: Amended Return Schedule
Did you le an amended Federal income tax return? Yes No
Provide a copy of IRS Form 1120X or 1139 and a copy of “Statement of Adjustment”, IRS refund check or deposit slip.
If this return is being led due to a Federal audit, furnish a complete copy of the RAR.
Explanation or Reason for Amended Return (Provide all necessary schedules):
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
____________________________________________________________________________________________________
A
B
C
Instructions for filing an Amended Return
Beginning with tax year 2013, use Form 512 to le an amended return. Do not use Form 512X. Form 512X will be used to
le an amended return for tax year 2012 and prior.
When ling an amended return, place an “X” in the Amended Return check-box at the top of page 1. Enter any amount(s)
paid with the original return plus any amount(s) paid after it was led on line 9. Enter any refund previously received or
overpayment applied on line 10. Complete the Amended Return Schedule, Schedule 512-X above.
Provide Form 1120X or 1139 and proof of disposition by the Internal Revenue Service when applicable.
An overpayment on an amended return may not be credited to estimated tax, but will be refunded. The amount applied
to estimated tax on the original return cannot be adjusted.
Name shown
on Form 512:
Federal Employer
Identication Number:
2019 Form 512 - Page 10
Corporation Income and Franchise Tax
State of Oklahoma
Computation of Oklahoma Consolidated
Taxable Income (Form 512, Line 1)
14. Oklahoma Net Operating Loss Deduction
A. Carryback from Tax Year(s) .............. A) ..........A)
B. Carryforward from Tax Year(s) .......... B) ..........B)
15. Oklahoma Taxable Income (Loss) before Oklahoma Accrued Income Tax Deduction ..............
16. Total Allowable Oklahoma Non-Refundable Credits
(This amount will equal the total from Form 512, Page 1, Line 3) ..............................................................
A. Oklahoma Income from Line 15 above .....................................
B. Divide Line 16 (above) by 6% ...................................................
C. Subtract Line B from Line A ......................................................
D. Accrued Oklahoma Income Tax – Divide Line C by 17.6667
(Do not enter less than zero)
................................................................
18. Oklahoma Consolidated Taxable Income – Subtract Line 17D from Line 15
(Enter here and on the Form 512, Page 1, Line 1)....................................................................................
Corporate Name
Enter the information for each corporation included in the consolidated return on a separate line. The “Oklahoma Income”
of each corporation will be totaled and entered on line 13. If there are more than 11 corporations, use Form 512-TI-SUP to
enter the additional corporations. Use as many Forms 512-TI-SUP as needed.
NOTE: If the return is led by paper, Form 512-TI must be the third page of the consolidated return. Place Form 512-TI
and, if applicable, Form(s) 512-TI-SUP immediately after Form 512, page 2.
Loss Year(s)
Federal Employer Identication Number
17. Computation of Accrued Income Tax Deduction Allowed
12. Enter the total from Supplemental Schedule(s), Form 512-TI-SUP
13. Total
( )
( )
FEIN
Business
Activity
Code
Net
Apportionable
Income
Apportionment Percentages
FORM
512-TI
2
0
1
9
(from Part 2, Line 4)
(from Apportionment Formula,
Lines 1C, 2C and 3C)
Property
Factor
Payroll
Factor
Sales
Factor
A) B) D) E)
Federal
Taxable Income
Oklahoma
Income
(from Part 1 Column A,
Line 28)
(Before an NOL deduction
and tax accrual)
1)
2)
3)
4)
5)
6)
7)
8)
9)
10)
11)
3C)2C)1C)
F)C)
State of Oklahoma
Computation of Oklahoma Consolidated
Annual Franchise Tax
Corporate Name
Federal Employer Identication Number
FORM
512-FT
2
0
1
9
Corporation 1 Corporation 2 Corporation 3
A Ta x
B Registered Agents Fee
C Interest
D Penalty
E Reinstatement Fee
F Previous Payment
G Overpayment
H Total Due
FEIN
Account Number
Summary
Form 512-FT is completed when a consolidated income tax return is led and more than one corporation within the con-
solidation is electing to le franchise tax with the income tax return. If there are more than three corporations making this
election, use Form 512-FT-SUP to enter the additional corporations. Use as many Forms 512-FT-SUP as needed.
The information for each corporation is entered in a separate column. Enter the information from Form 512, Page 6, lines
12-19 on Lines A-H above. Do not enter any information for a corporation ling a stand-alone Oklahoma Annual Franchise
Tax Return (Form 200) or who is not required to le a franchise tax return.
The Summary column is the combined totals of all franchise tax information reported on Form 512-FT and, if applicable,
Form(s) 512-FT-SUP. Enter the amounts from Lines A-H of the Summary column on Form 512, Page 2, Section Two.
Form 512-FT and, if applicable, Form(s) 512-FT-SUP must be provided as part of the consolidated return.
State of Oklahoma
Supplemental Schedule for
Form 512-TI
Corporate Name
FEIN
Total. Enter here and on Form 512-TI, line 12
FORM
512-TI-SUP
2
0
1
9
Page
______ of
______
NOTE: If the return is led by paper, place Form(s) 512-TI-SUP immediately after Form 512-TI. Make note of the number of Forms
512-TI-SUP that are included in the consolidated return (e.g. If there are ve Forms 512-TI-SUP, the second Form 512-TI-SUP would
have 2 of 5 shown in the Page section below.)
FEIN
Business
Activity
Code
Net
Apportionable
Income
Apportionment Percentages
(from Part 2, Line 4)
(from Apportionment Formula,
Lines 1C, 2C and 3C)
Property
Factor
Payroll
Factor
Sales
Factor
A) B) D) E)
Federal
Taxable Income
Oklahoma
Income
(from Part 1 Column A,
Line 28)
(Before an NOL deduction
and tax accrual)
3C)2C)1C)
F)C)
State of Oklahoma
Supplemental Schedule for Form 512-FT
NOTE: If the return is led by paper, place Form(s) 512-FT-SUP immediately
after Form 512-FT. Make note of the number of Forms 512-FT-SUP that are
included in the consolidated return (e.g. If there are three Forms 512-FT-SUP, the
second Form 512-FT-SUP would have 2 of 3 shown in the Page section below.)
FORM
512-FT-SUP
2
0
1
9
Corporate Name
FEIN
Page
______ of
______
Corporation ________ Corporation ________ Corporation ________ Corporation ________
A Ta x
B Registered Agents Fee
C Interest
D Penalty
E Reinstatement Fee
F Previous Payment
G Overpayment
H Total Due
FEIN
Account Number
Corporation ________ Corporation ________ Corporation ________ Corporation ________
A Ta x
B Registered Agents Fee
C Interest
D Penalty
E Reinstatement Fee
F Previous Payment
G Overpayment
H Total Due
FEIN
Account Number
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2019 Oklahoma Corporation Income and Franchise Tax Forms (State of Oklahoma)

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Completed 9 November 2021

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