Form OW-8-ESC 2018 Estimated Tax Declaration for Corporations and Trusts - Oklahoma

Form OW-8-ESC is a Oklahoma Tax Commission form also known as the "Estimated Tax Declaration For Corporations And Trusts". The latest edition of the form was released in May 1, 2017 and is available for digital filing.

Download a PDF version of the Form OW-8-ESC @down below@ or find it on Oklahoma Tax Commission Forms website.

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Oklahoma Corporate, Fiduciary and
ITE OW-8-ESC
Revised 5-2017
Partnership Estimated Tax
Tax Worksheet for Corporations and Trusts
See the general instructions for additional filing information.
A corporation or trust with an estimated income tax liability of $500 or more for the year is required to file a declaration and pay estimat-
ed tax. The corporate income tax rate is six percent of taxable income. The tax rates for trusts are in the Form 513 or 513NR instruc-
tions. Estates are not required to file an estimated tax return declaration.
00
1
Enter the estimated Oklahoma income tax* for the current year .......................................................................
00
2
Enter the income tax credits ..............................................................................................................................
00
3
Enter the estimated Oklahoma income tax liability (subtract line 2 from line 1) ................................................
00
4
A. Multiply line 3 by 70%..............................................................................................
00
B. Enter the tax liability shown on the previous year’s tax return ................................
00
C. Enter the smaller of line 4a or 4b .................................................................................................................
This is the required annual payment to avoid underpayment interest. NOTE: If line 3 is less than $500, estimated tax payments are not required.
00
5
Estimated amount of withholding.......................................................................................................................
00
6
Subtract line 5 from line 4c ................................................................................................................................
(Note: If less than zero, or line 3 minus line 5 is less than $500, estimated tax payments are not required.
00
7
Amount to be paid with each coupon (if paid quarterly, 25% of line 6) ..............................................................
* If income is received unevenly throughout the year (e.g. operating a business on a seasonal basis), the estimated tax
payment may be lowered for one or more periods by using the annualized income installment method as prescribed in the
Internal Revenue Code and in the Oklahoma Tax Commission Rule 710:50-13-9. The annualization provisions found in Sec-
tion 6655(e)(2)(C) and 6655(e)(3) of the Internal Revenue Code may not be used. Computing estimated taxes on an annualized
basis shall only be permitted for a taxable year of twelve months.
Record of Estimated Tax Payments
Quarter
Date Paid
Amount
Mandatory inclusion of Social Security and/or Federal Identifica-
Applied from 2017 Tax Return ............................
tion Numbers is required on forms filed with the Oklahoma Tax
Commission pursuant to Title 68 of the Oklahoma Statutes and
1
regulations thereunder, for identification purposes, and is deemed
2
part of the confidential files and records of the Oklahoma Tax
3
Commission.
4
The Oklahoma Tax Commission is not required to give actual
notice of change in any state tax law.
Total
Use the coupon below for all four quarterly estimated tax payments.
The due dates are shown on page 2.
Detach Here and Return Coupon with Payment
Do not fold, staple, or paper clip
Do not tear or cut below line
OW-8-ESC
Oklahoma Corporate, Fiduciary and
ITE
05001
Partnership Estimated Tax Coupon
Mailing Address Change
(Enter new mailing address below)
Taxpayer FEIN
___________________________________________________
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 Corporate, Fiduciary and
ITE OW-8-ESC
Revised 5-2017
Partnership Estimated Tax
Tax Worksheet for Corporations and Trusts
See the general instructions for additional filing information.
A corporation or trust with an estimated income tax liability of $500 or more for the year is required to file a declaration and pay estimat-
ed tax. The corporate income tax rate is six percent of taxable income. The tax rates for trusts are in the Form 513 or 513NR instruc-
tions. Estates are not required to file an estimated tax return declaration.
00
1
Enter the estimated Oklahoma income tax* for the current year .......................................................................
00
2
Enter the income tax credits ..............................................................................................................................
00
3
Enter the estimated Oklahoma income tax liability (subtract line 2 from line 1) ................................................
00
4
A. Multiply line 3 by 70%..............................................................................................
00
B. Enter the tax liability shown on the previous year’s tax return ................................
00
C. Enter the smaller of line 4a or 4b .................................................................................................................
This is the required annual payment to avoid underpayment interest. NOTE: If line 3 is less than $500, estimated tax payments are not required.
00
5
Estimated amount of withholding.......................................................................................................................
00
6
Subtract line 5 from line 4c ................................................................................................................................
(Note: If less than zero, or line 3 minus line 5 is less than $500, estimated tax payments are not required.
00
7
Amount to be paid with each coupon (if paid quarterly, 25% of line 6) ..............................................................
* If income is received unevenly throughout the year (e.g. operating a business on a seasonal basis), the estimated tax
payment may be lowered for one or more periods by using the annualized income installment method as prescribed in the
Internal Revenue Code and in the Oklahoma Tax Commission Rule 710:50-13-9. The annualization provisions found in Sec-
tion 6655(e)(2)(C) and 6655(e)(3) of the Internal Revenue Code may not be used. Computing estimated taxes on an annualized
basis shall only be permitted for a taxable year of twelve months.
Record of Estimated Tax Payments
Quarter
Date Paid
Amount
Mandatory inclusion of Social Security and/or Federal Identifica-
Applied from 2017 Tax Return ............................
tion Numbers is required on forms filed with the Oklahoma Tax
Commission pursuant to Title 68 of the Oklahoma Statutes and
1
regulations thereunder, for identification purposes, and is deemed
2
part of the confidential files and records of the Oklahoma Tax
3
Commission.
4
The Oklahoma Tax Commission is not required to give actual
notice of change in any state tax law.
Total
Use the coupon below for all four quarterly estimated tax payments.
The due dates are shown on page 2.
Detach Here and Return Coupon with Payment
Do not fold, staple, or paper clip
Do not tear or cut below line
OW-8-ESC
Oklahoma Corporate, Fiduciary and
ITE
05001
Partnership Estimated Tax Coupon
Mailing Address Change
(Enter new mailing address below)
Taxpayer FEIN
___________________________________________________
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-ESC - page 2
Oklahoma Corporate, Fiduciary and
Partnership Estimated Tax Declaration
General Instructions
Who Must Make A DECLARATION
How to Compute Estimated Tax
A corporation or trust with an estimated income tax liability of
Trust tax rates are found in the Packet 513 or 513NR instruc-
$500 or more for the year is required to file a declaration and pay
tions. Corporate income tax is six percent of taxable income.
equal* quarterly estimated tax. Estates are not required to file an
How to Complete Your Tax Declaration Coupon
estimated tax declaration.
Name and Address: Enter the name and mailing address.
* For purposes of determining the amount of tax due on any of
• If the address has changed, place an ‘X’ where indicated
the respective dates, taxpayers may compute the tax by placing
in the upper left corner of the coupon.
taxable income on an annualized basis. See Oklahoma Tax Com-
Taxpayer FEIN: Enter the Federal identification number.
mission Rule 710:50-13-9.
Quarter: Enter the quarter for this estimated payment.
When To File and Pay
Due Date: Enter the quarterly due date. See below for the due
A declaration of estimated tax should be filed and the first install-
date for each quarter.
ment paid by April 15th for calendar year taxpayers. Fiscal year
Amount of Payment: Enter the amount of estimated tax being
taxpayers should file and pay the first installment by the fifteenth
paid with the estimated tax coupon.
day of the fourth month following the beginning of their taxable
year. Other installments should be paid by the due dates shown
Do not send coupon if no payment is required.
below.
Additional Information
Interest for Underpayment
Make checks payable to: Oklahoma Tax Commission.
In general, underpayment of estimated tax interest is due if the
Do NOT send cash.
tax liability is $500 or more and timely paid quarterly estimated
tax payments are not at least 70% of the current year tax liability
Mail the coupon, along with payment, to:
or 100% of the prior year tax liability. The tax liability is the tax
Oklahoma Tax Commission
due less all credits except amounts paid on withholding, esti-
Post Office Box 269027
mated tax and extension payments. The amount of underpay-
Oklahoma City, OK 73126-9027
ment of estimated tax interest is computed at a rate of 20% per
annum for the period of underpayment. Note: No underpayment
Do not enclose any other tax reports or correspondence in
of estimated tax interest shall be imposed if the tax shown on the
this envelope.
return is less than $1,000. For additional information see 68 O.S.
See below for electronic payment information.
Sec. 2385.7-2385.13 or call the Tax Commission’s Corporate
Audit Section at (405) 521-3126.
The coupon on page 1 will be used for all quarterly estimated tax
payments. The quarterly due dates are shown below.
Due Dates: **
Electronic Payment Options:
• 1st Quarter
Electronic payments are accepted for estimated income tax pay-
(Calendar Year) April 15
ments at www.tax.ok.gov. There is a convenience fee charged
(Fiscal Year) Fifteenth day of the fourth month
for utilizing some of the electronic payment services.
• 2nd Quarter
(Calendar Year) June 15
Note: If you make your estimated tax payment electronically, do
(Fiscal Year) Fifteenth day of the sixth month
not mail this payment coupon. Please retain the confirmation
• 3rd Quarter
number for your records.
(Calendar Year) September 15
(Fiscal Year) Fifteenth day of the ninth month
• 4th Quarter
(Calendar Year) January 15
(Fiscal Year) Fifteenth day of the first month of the
succeeding taxable year.
** 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-ESC 2018 Estimated Tax Declaration for Corporations and Trusts - Oklahoma

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