Form OW-8-ES 2018 Oklahoma Individual Estimated Tax - Oklahoma

Form OW-8-ES or the "Oklahoma Individual Estimated Tax" is a form issued by the Oklahoma Tax Commission.

The form was last revised in May 1, 2017 and is available for digital filing. Download an up-to-date fillable Form OW-8-ES in PDF-format down below or look it up on the Oklahoma Tax Commission Forms website.

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Oklahoma Individual Estimated Tax
ITE OW-8-ES
Tax Year 2018 Worksheet for Individuals
Revised 5-2017
See the general instructions for additional filing information.
00
1 Estimated total income for tax year (less income exempt by statute) ...............................................................
00
2 Estimated deductions (standard or itemized) ................................................................
00
3 Exemptions ($1000 for each exemption) .......................................................................
00
4 Total deductions and exemptions (add lines 2 and 3) .......................................................................................
00
5 Estimated taxable income (subtract line 4 from line 1) ....................................................................................
00
6 Estimated Oklahoma tax * .................................................................................................................................
00
7 Estimated Oklahoma income tax credits ...........................................................................................................
00
8 Estimated Oklahoma income tax liability (subtract line 7 from 6) ......................................................................
00
9 A. Multiply line 8 by 70% ..............................................................................................
00
B. Enter the tax liability shown on your previous year’s tax return ...............................
00
C. Enter the smaller of line 9a or 9b. This is your required annual payment to avoid underpayment interest ..
00
10 Estimated amount of withholding.......................................................................................................................
00
11 Subtract line 10 from line 9c ..............................................................................................................................
(Note: If zero or less, or line 8 minus line 10 is less than $500, stop here. You are not required to make estimated tax payments.)
00
12 Amount to be paid with each coupon (if paid quarterly, 1/4 of line 11) ..............................................................
* The following applies to part-year and nonresident taxpayers who
Record of Estimated Tax Payments
will be filing Form 511 NR. Lines 1 through 5 shall be calculated as
Quarter
Date Paid
Amount
if all income were earned in Oklahoma.
Applied from 2017 Tax Return ............................
1) Using the amount from line 5, calculate the tax; this is the base
1
tax and will be prorated for line 6.
2
2) To calculate line 6, first estimate your income from Oklahoma
sources. Divide your income from Oklahoma sources by the
3
amount on line 1.
4
3) Multiply this percentage by the base tax and enter the result on
Total
line 6. This is your estimated Oklahoma tax liability. Complete
the remainder of the worksheet as directed.
The Oklahoma Tax Commission is not required to give actual notice of change in any state tax law.
After this estimated tax payment is processed, you will receive a pre-printed coupon each quarter.
Please use the pre-printed coupon to make further tax payments.
Detach Here and Return Coupon with Payment
Do not fold, staple, or paper clip
Do not tear or cut below line
OW-8-ES Oklahoma Individual Estimated Tax Coupon
ITE
05001
Mailing Address Change
(Enter new mailing address below)
Taxpayer SSN
___________________________________________________
2018
Tax Year
Name
___________________________________________________
Quarter
Address
Due Date
___________________________________________________
City
State
ZIP
- - - - - - - - - - Dollars - - - - - - - - - -
- - Cents - -
Amount of
Payment:
____________________________ . __________
Please remit only one check per coupon.
Mail this coupon, along with payment, to:
Oklahoma Tax Commission - Post Office Box 269027 - Oklahoma City, OK 73126-9027
Oklahoma Individual Estimated Tax
ITE OW-8-ES
Tax Year 2018 Worksheet for Individuals
Revised 5-2017
See the general instructions for additional filing information.
00
1 Estimated total income for tax year (less income exempt by statute) ...............................................................
00
2 Estimated deductions (standard or itemized) ................................................................
00
3 Exemptions ($1000 for each exemption) .......................................................................
00
4 Total deductions and exemptions (add lines 2 and 3) .......................................................................................
00
5 Estimated taxable income (subtract line 4 from line 1) ....................................................................................
00
6 Estimated Oklahoma tax * .................................................................................................................................
00
7 Estimated Oklahoma income tax credits ...........................................................................................................
00
8 Estimated Oklahoma income tax liability (subtract line 7 from 6) ......................................................................
00
9 A. Multiply line 8 by 70% ..............................................................................................
00
B. Enter the tax liability shown on your previous year’s tax return ...............................
00
C. Enter the smaller of line 9a or 9b. This is your required annual payment to avoid underpayment interest ..
00
10 Estimated amount of withholding.......................................................................................................................
00
11 Subtract line 10 from line 9c ..............................................................................................................................
(Note: If zero or less, or line 8 minus line 10 is less than $500, stop here. You are not required to make estimated tax payments.)
00
12 Amount to be paid with each coupon (if paid quarterly, 1/4 of line 11) ..............................................................
* The following applies to part-year and nonresident taxpayers who
Record of Estimated Tax Payments
will be filing Form 511 NR. Lines 1 through 5 shall be calculated as
Quarter
Date Paid
Amount
if all income were earned in Oklahoma.
Applied from 2017 Tax Return ............................
1) Using the amount from line 5, calculate the tax; this is the base
1
tax and will be prorated for line 6.
2
2) To calculate line 6, first estimate your income from Oklahoma
sources. Divide your income from Oklahoma sources by the
3
amount on line 1.
4
3) Multiply this percentage by the base tax and enter the result on
Total
line 6. This is your estimated Oklahoma tax liability. Complete
the remainder of the worksheet as directed.
The Oklahoma Tax Commission is not required to give actual notice of change in any state tax law.
After this estimated tax payment is processed, you will receive a pre-printed coupon each quarter.
Please use the pre-printed coupon to make further tax payments.
Detach Here and Return Coupon with Payment
Do not fold, staple, or paper clip
Do not tear or cut below line
OW-8-ES Oklahoma Individual Estimated Tax Coupon
ITE
05001
Mailing Address Change
(Enter new mailing address below)
Taxpayer SSN
___________________________________________________
2018
Tax Year
Name
___________________________________________________
Quarter
Address
Due Date
___________________________________________________
City
State
ZIP
- - - - - - - - - - Dollars - - - - - - - - - -
- - Cents - -
Amount of
Payment:
____________________________ . __________
Please remit only one check per coupon.
Mail this coupon, along with payment, to:
Oklahoma Tax Commission - Post Office Box 269027 - Oklahoma City, OK 73126-9027
Form OW-8-ES - page 2
Oklahoma Individual Estimated Tax Declaration
General Instructions
Who Must Make Estimated Payments
How to Compute Estimated Tax
You must make equal* quarterly estimated tax payments if
A worksheet is included with the coupon for use in computing
you can reasonably expect your tax liability to exceed your
estimated tax liability. To compute the tax, refer to the tax table
withholding by $500 or more and you expect your withholding to
included with Packet 511 or Packet 511NR instructions.
be less than the smaller of:
How to Complete Your Tax Declaration Coupon
1. 70% of your current year’s tax liability, or
Name and Address: Enter your name and mailing address.
2. the tax liability shown on your return for the preceding
• On a joint return, enter the name of the primary taxpayer.
taxable year of 12 months.
The primary taxpayer is the person whose name will be
entered first on the income tax return.
Estates and farmers are not required to make estimated tax
payments. A farmer is an individual who derives at least two-
• If your address has changed, place an ‘X’ where indicated
thirds of his/her gross income for the current year or the previous
in the upper left corner of the coupon.
year from farming activities.
Taxpayer SSN: Enter the primary taxpayer’s social security number.
* If you receive income unevenly throughout the year (e.g. you
Quarter: Enter the quarter for which you are making the
operate your business on a seasonal basis), you may be able
estimated tax payment.
to lower or eliminate the amount on your required estimated tax
payment for one or more periods by using the annualized income
Due Date: Enter the quarterly due date. See below for the due
installment method. See Form OW-8-ES-SUP for details. Form
date for each quarter.
OW-8-ES-SUP may be downloaded at www.tax.ok.gov.
Amount of Payment: Enter the amount of estimated tax being
paid with the estimated tax coupon.
When To File and Pay
A declaration of estimated tax should be filed and the first
Do not send coupon if no payment is required.
installment paid by April 15th for calendar year taxpayers. Other
installments for calendar year taxpayers should be paid by the
Additional Information
due dates shown below.
Make checks payable to: Oklahoma Tax Commission.
Do NOT send cash.
Interest for Underpayment
In general, you will owe underpayment of estimated tax interest
Mail the coupon, along with payment, to:
if your tax liability exceeds your withholding by $500 or more
and your timely paid quarterly estimated tax payments and
Oklahoma Tax Commission
withholding are not at least 70% of your current year tax liability
Post Office Box 269027
or 100% of your prior year tax liability. The tax liability is the
Oklahoma City, OK 73126-9027
tax due less all credits except amounts paid on withholding,
Do not enclose any other tax reports or correspondence in
estimated tax and extension payments. The amount of
this envelope.
underpayment of estimated tax interest is computed at a rate
of 20% per annum for the period of underpayment. Note: No
See below for electronic payment information.
underpayment of estimated tax interest shall be imposed if
You will receive a pre-printed coupon to make your next quarterly
the tax shown on the return is less than $1000. For additional
payment.
information see 68 O.S. Sec. 2385.7-2385.13 or call the Tax
Commission’s Taxpayer Assistance Division at (405) 521-3160.
Due Dates (Calendar year) **
Electronic Payment Options:
Electronic payments are accepted for estimated income tax pay-
• 1st Quarter - April 15
ments at www.tax.ok.gov. There is a convenience fee charged
• 2nd Quarter - June 15
for utilizing some of the electronic payment services.
• 3rd Quarter - September 15
Note: If you make your estimated tax payment electronically, do
• 4th Quarter - January 15
not mail this payment coupon. Please retain the confirmation
number for your records.
** If the due date falls on a weekend or legal holiday when the
Oklahoma Tax Commission offices are closed, your payment is
due the next business day.

Download Form OW-8-ES 2018 Oklahoma Individual Estimated Tax - Oklahoma

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