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The Oklahoma Franchise form is a crucial document that corporations must file annually to report their franchise tax obligations in the state. This form, known as the Oklahoma Annual Franchise Tax Return (FRX 200), captures essential financial information and ensures compliance with state tax laws. Understanding how to complete this form accurately can help businesses avoid penalties and maintain good standing in Oklahoma.

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The Oklahoma Franchise Form, specifically the Annual Franchise Tax Return Form FRX 200, serves as a crucial document for corporations operating within the state. This form is required for every corporation organized under Oklahoma laws or qualified to do business in the state, ensuring compliance with state tax regulations. It includes essential sections such as taxpayer identification, reporting periods, and the due date for submission, which is typically July 1st each year. The form requires detailed financial disclosures, including a balance sheet that outlines total net assets, current liabilities, and capital employed in Oklahoma. Corporations must also report their gross business done both in Oklahoma and elsewhere, providing a comprehensive view of their financial standing. Additionally, the form incorporates a schedule for current corporate officers, mandating that all officer information be included to maintain transparency. For foreign corporations, a registered agent fee is applicable, further emphasizing the form's importance in the overall tax compliance framework. Understanding the intricacies of this form is vital for businesses to avoid penalties and ensure accurate reporting, making it a cornerstone of corporate governance in Oklahoma.

Oklahoma Tax Commission Forms - The form stipulates that unsatisfied tax balances must be addressed timely.

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Oklahoma Tax Id Number - This credit is intended to avoid double taxation for income earned in multiple states.

What is the Oklahoma Franchise Tax Return Form FRX 200?

The Oklahoma Franchise Tax Return Form FRX 200 is a mandatory document that corporations organized or doing business in Oklahoma must file annually. This form reports the corporation's financial information, including total net assets, liabilities, and business conducted in Oklahoma. It is essential for compliance with state tax laws and helps determine the amount of franchise tax owed.

Who needs to file the Oklahoma Franchise Tax Return?

Every corporation that is either organized under Oklahoma laws or qualified to do business in Oklahoma must file this return. This includes associations, joint stock companies, and business trusts. Even foreign corporations must file if they are doing business in Oklahoma, although they are also required to pay a $100 annual registered agent fee. Failure to file can lead to penalties and interest on unpaid taxes.

When is the Oklahoma Franchise Tax Return due?

The franchise tax is due on July 1st each year. If a corporation has remitted the maximum amount of $20,000 in the preceding tax year, the tax is due on May 1st of each year. If not paid by the due date, the return will be considered delinquent, incurring a 10% penalty and 1.25% interest per month on the outstanding amount. It's crucial to mark your calendar to avoid these additional costs.

How is the franchise tax calculated?

The franchise tax is calculated based on the balance sheet at the end of the last income tax year. Specifically, it is determined by the proportion of total property and business done in Oklahoma compared to the total everywhere. The tax rate is $1.25 per $1,000 of capital allocated or employed in Oklahoma. If your total tax due is $250 or less, you may file a “no tax due” return, but still need to submit a schedule of corporate officers.

What happens if I miss the filing deadline?

Missing the filing deadline can lead to significant consequences. A 10% penalty is applied to the unpaid tax amount, along with interest of 1.25% per month. If a corporation's charter is suspended, a reinstatement fee of $150 is required. To avoid these penalties, it’s critical to file on time and ensure all information is accurate and complete.

Can I file the Oklahoma Franchise Tax Return online?

Yes, you can file the Oklahoma Franchise Tax Return online through the Oklahoma Taxpayer Access Point (OkTAP). This platform simplifies the filing process and allows you to manage your tax obligations efficiently. Visit tax.ok.gov to access the necessary forms and submit your return electronically.

Filling out the Oklahoma Franchise form is a crucial step for businesses operating in the state. This process ensures compliance with state tax regulations and helps maintain good standing. After completing the form, it must be submitted by the due date to avoid penalties and interest.

Gather Necessary Information: Collect your Federal Employer Identification Number (FEIN), account number, and details about your business, including the state of incorporation and reporting period.
Complete Basic Information: Fill in the fields for taxpayer FEIN, account number, reporting period (beginning and ending dates), and due date.
Provide Address Details: Enter the business's address, including city, state, country, and postal code. If applicable, include any other names your business operates under.
Fill Out Financial Information: Complete the balance sheet section, including total net assets in Oklahoma, total current liabilities, and capital employed in Oklahoma.
Calculate Business Metrics: If line 2 is not zero, complete lines 5 through 11, which involve reporting gross business done in Oklahoma and calculating the percentage of Oklahoma assets.
Determine Tax Liability: Calculate the tax due based on the information provided and include any registered agent fees, interest, penalties, and previous estimated payments.
Complete Officer Information: On Schedule A, list the current officers of the corporation, including their names, Social Security numbers, and contact details.
Provide Additional Information: Complete Schedules B, C, and D as needed, detailing business structure, related companies, and current debt.
Review and Sign: Ensure all information is accurate and complete. Sign and date the form to certify that the information is true to the best of your knowledge.
Submit the Form: File the completed form by the due date, either online through OkTAP or by mailing it to the appropriate tax authority.

The Oklahoma Franchise Tax Return is similar to the IRS Form 1120, which is the U.S. Corporation Income Tax Return. Both documents require corporations to report financial information, including income and expenses, to determine tax obligations. While the IRS Form 1120 focuses on federal income tax, the Oklahoma Franchise Tax Return is specifically for state-level franchise taxes. Both forms require detailed financial statements, including balance sheets and income statements, to assess the financial health of the corporation.

Another document comparable to the Oklahoma Franchise Tax Return is the Texas Franchise Tax Report. Like the Oklahoma form, the Texas report is used by corporations to calculate and report their franchise tax obligations to the state. Both documents require information about total revenue, assets, and liabilities, and they share similar deadlines for filing. However, the Texas report includes a unique method of calculating the tax based on revenue rather than the value of capital employed, highlighting differences in state tax regulations.

The California Franchise Tax Board Form 100 is also similar to the Oklahoma Franchise Tax Return. This form is used by corporations doing business in California to report income and calculate franchise taxes. Both forms require corporations to disclose their financial information, including assets, liabilities, and income. However, California's form has its own specific rates and calculations, reflecting the unique tax structure of the state.

The New York State Corporation Franchise Tax Return (Form CT-3) shares similarities with the Oklahoma form as well. Both documents require corporations to report their financial data to determine franchise tax liability. Each form includes sections for detailing income, expenses, and asset values. However, New York's form has a more complex structure, allowing for various calculations based on different tax rates and methods, which may not be present in the Oklahoma version.

Additionally, the Florida Corporate Income Tax Return (Form F-1120) bears resemblance to the Oklahoma Franchise Tax Return. Both forms are used to report financial information for tax purposes, requiring corporations to provide details about their income, assets, and liabilities. While the Oklahoma form focuses on franchise taxes, Florida's form is specifically for corporate income taxes, illustrating the differences in tax structures between states.

Understanding the various state-specific tax forms is crucial for business compliance, and for those dealing with All-Terrain Vehicles (ATVs) in New York, the legalpdf.org provides an essential ATV Bill of Sale form. This document serves as a comprehensive record of the sale and purchase, ensuring that all parties involved are protected and that the transaction is properly documented, mirroring the importance of accountability found in corporate tax forms across various states.

Lastly, the Illinois Corporation Income and Replacement Tax Return (Form IL-1120) is similar to the Oklahoma Franchise Tax Return in that both require corporations to report financial data to determine tax obligations. Each form necessitates the inclusion of income statements and balance sheets. However, Illinois has a different tax structure that combines income and replacement taxes, which can complicate the reporting process compared to the straightforward franchise tax in Oklahoma.

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				FRX	200	Oklahoma Annual Franchise Tax Return

			Revised 6-2022
			Revised 6-2022

	A. Taxpayer FEIN						B. Account Number							C. Reporting Period Beginning (MM/DD/YY) Reporting Period Ending (MM/DD/YY)


	Name


	Address


	City										State or Province				Country					Postal Code

	D. Due Date (MM/DD/YY)							State of Incorporation						G. Amended Return				H. Estimated Return		I. New Address
									E.Oklahoma			F. Other
									E.Oklahoma			F. Other

	J. Balance Sheet Date (MM/DD/YY)

																			Dollars		Cents

1.		Total Net Assets in Oklahoma (Balance Sheet: Line 15, Column B)															1				00
2.		Total Net Assets (Balance Sheet: Line 15, Column A)
2.		Total Net Assets (Balance Sheet: Line 15, Column A)
		If all assets are in Oklahoma, enter “0”															2				00
3.		Total Current Liabilities (Balance Sheet: Line 23)
3.		Total Current Liabilities (Balance Sheet: Line 23)															3				00
		If line 2 is zero, complete line 4. If line 2 is not zero, complete lines 5-11												..........................			3				00
4.		Capital Employed in Oklahoma (line 1 minus line 3)
4.		Capital Employed in Oklahoma (line 1 minus line 3)															4				00
		Round to next highest $1000. If line 4 is completed, skip to line 12															4				00

5.		Total Gross Business Done by Corporation in Oklahoma (Balance Sheet: Line 34)															5				00

6.		Total Value of Assets and Business Done in Oklahoma (Total of lines 1 and 5)															6				00

7.		Total Gross Business Done by Corporation (Balance Sheet: Line 33)															7				00

8.		Total Value of Assets and Business Done (Total of lines 2 and 7)															8				00
9.		Percentage of Oklahoma Assets (See instructions)

																					%
			Check appropriate Box:							Option1		Option 2					9
			Check appropriate Box:							Option1		Option 2	.................................				9
10.		................................................Value of Capital Subject to Apportionment (Line 2 minus line 3)														10					00
11.		Capital Apportioned to Oklahoma (Line 10 multiplied by line 9)
11.																					00
		Round to the next highest $1000														11					00
12.		Tax (See instructions)														12 =
12.		Tax (See instructions)				.................................................................................................................										12 =
13.		Registered Agents Fee ($100.00 - See instructions)														13 +

																					00
14.		Interest														14 +
14.		Interest														14 +
15.		Penalty														15 +


16.		Reinstatement Fee ($150.00 - See instructions)														16 +

																					00
17.		Previous Estimated Payment														17 -
17.		Previous Estimated Payment					.....................................................................................................									17 -
18.		Total Due (Cannot be less than zero)														18 =




				Signature: _______________________________________										Date: ___________________
				Signature: _______________________________________										Date: ___________________
				The information contained in this return and any attachments is true and correct to the best of my knowledge.

				Oklahoma Annual Franchise Tax Return
		FRX	200
		FRX	200
				Schedule A: Current Officer Information
	Page 2			Schedule A: Current Officer Information
	Page 2
				NOTE: Inclusion of Officers Is Mandatory.
Taxpayer Name					FEIN	Account Number

Corporate Officers Effective as of Are as Follows:

(Date)

Example: Reporting period 07/01/2016 – 06/30/2017—Schedule A date = 06/30/2016

Schedule A: Current Officer Information

Enter the current officers effective date. The officers listed below should be those whose term was in effect as of June 30. Be sure to include names, addresses, and Social Security Numbers. A letter will be sent to all officers listed advising them they have been identified as an officer of the filing corporation. Officers listed in error will be advised to contact the corporation, not the Oklahoma Tax Commission to resolve. Officers may be updated or corrected when filing your annual franchise return via OkTAP.

1. First Name		Middle Initial	Last Name		Social Security Number

Home Address (street and number)					Daytime Phone (area code and number)

City	State or Province		Country	Postal Code	Title

2. First Name		Middle Initial	Last Name		Social Security Number

Home Address (street and number)					Daytime Phone (area code and number)

City	State or Province		Country	Postal Code	Title

3. First Name		Middle Initial	Last Name		Social Security Number

Home Address (street and number)					Daytime Phone (area code and number)


City	State or Province		Country	Postal Code	Title


4. First Name		Middle Intial	Last Name		Social Security Number


Home Address (street and number)					Daytime Phone (area code and number)


City	State or Province		Country	Postal Code	Title

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 filed with the Oklahoma Tax Commission (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 gov- ernment issued identification number of the person, firm, or corporation filing 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 Identification and/or Social Security Account Numbers are deemed to be included in the confidential records of the Commission.

FRX 200

Page 3

Oklahoma Annual Franchise Tax Return

Schedules B, C and D

Taxpayer Name	FEIN

This page contains Schedules B, C, and D for the completion of Form 200: Oklahoma Annual Franchise Tax Return. Attach 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 filed.

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 fiscal 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)

•affiliates (Companies related other than by direct stock ownership)

Name of Affiliate	FEIN	How related?

Schedule D
Details of Current Debt shown on Balance Sheet			Balance remaining of
		Original Amount	amounts payable within 3
Name of Lender	Original Date of Issuance Maturity Date	of Instrument	years of Date of Issuance

FRX 200

Page 4

Oklahoma Annual Franchise Tax Return

Balance Sheet

Taxpayer Name	FEIN	As of the Last Income Tax Year Ended: (MM/DD/YY)

This page contains the Balance Sheet which completes Form 200: Oklahoma Annual Franchise Tax Return.

Column A

Assets	Total Everywhere as per
	Total Everywhere as per
	Books of Account.
	If all Property is in
	Oklahoma,
	Do Not Use this Column.

Column B

Total in Oklahoma

as per Books

of Account.

Liabilities and

Stockholders’

Equity

Column C

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

(attach schedule)....................

6.Total Current Assets

(add lines 1A-5A and 1B-5B).

7.Mortgage and real estate loans

8.Other investments

(attach 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 ...........................

(Lines: 6-14)

16.Inter-company receivables:

(a)From parent company.....

(b)From subsidiary company

(c)From affiliated company .

17.Bank holding company stock in subsidiary bank .......

18.TOTAL ASSETS...................

(Lines: 15-17)

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.........

(Lines: 19-22)

24.Inter-company payables

(a)To parent company.............

(b)To subsidiary company.......

(c)To affiliated 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 (attach 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)

Form 200 - Page 5

Oklahoma Annual Franchise Tax Return Information

• Requirement for Filing Return

Every corporation organized under the laws of this state, or qualified to do or doing business in Oklahoma in a corporate or organized

capacity by virtue or creation of organization under the laws of this state or any other state, territory, district, or a foreign country, including

associations, joint stock companies and business trusts as defined by Oklahoma statutes unless exempt by statutes must file an Annual Franchise Tax Return Form 200.

The term “doing business” means and includes every act, power, or privilege exercised 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.

All Foreign (non-Oklahoma) Corporations including non-profits, must pay an Annual Registered Agent Fee of $100.00. Indicate this amount

on Line 13 of the Form 200.

The maximum annual franchise tax is $20,000.00. Maximum filers should complete and file Form 200 including a schedule of current corporate officers and balance sheet.

If a taxpayer computes the franchise tax due and determines that it amounts to $250.00 or less, the taxpayer is exempt from the tax and a

“no tax due” Form 200 is required to be filed. A schedule of corporate officers must still be filed and, for foreign corporations, the $100.00 registered agents fee is still due.

Applications for refunds must include copies of related Oklahoma Income Tax Returns. The use of the correct corporate name and FEIN on your return and all correspondence will facilitate in timely processing and handling.

• Time for Filing and Payment Information

Oklahoma Franchise Tax is due and payable July 1st of each year unless a Franchise Election Form 200-F has been filed. The report and tax will be delinquent if not paid on or before September 15. A ten percent (10%) penalty and one and one-fourth percent (1.25%) interest per month is due on payments made after the due date.

NOTE: Effective November 1, 2017, corporations who remit the maximum amount of $20,000.00 in the preceding tax year, the tax will be due and payable on May 1st of each year and delinquent if not paid on or before June 1st. These corporations are not eligible to file Form 200-F.

If the Charter or other instrument is suspended, a fee of $150.00 is required for reinstatement. (Line 16 of Form 200.)

If you wish to make an election to change your filing frequency, or to file using the Oklahoma Corporate Income Tax Form 512 or 512-S, complete Franchise Election Form 200-F: . You may file this form online or download it at tax.ok.gov. Form 200-F must be filed no later

than July 1.

• 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 filing 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 business 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 deducted from gross assets.

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 transacting of business. Business done in Oklahoma includes sales shipped from Oklahoma to another state in which the corporation is not doing business.

Inter-company Payable and Receivables between parent, subsidiary and/or affiliates, 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 Oklahoma.

• Online Filing

Oklahoma Taxpayer Access Point (OkTAP) makes it easy to file and pay. Visit us at tax.ok.gov to file your Franchise Tax Return, Officer

Listings, Balance Sheets and Franchise Election Form 200-F.

Form 200 - Page 6

First Step...

Complete Balance Sheet and Schedules B, C & D

(Must be returned with annual return)

Line 1 (through 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 included as assets at book value.

Line 8 Stock or other evidence of ownership in subsidiary organiza- tions as shown on the corporations 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 definite term franchise, the cost thereof may be amortized

over its life. Goodwill is an asset and should 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 beneficiary, 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 employed un- less 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 cre- ation 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.

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 sufficient detail to truly reflect the amount

of capital invested and employed in the business.

Second Step...

Complete the Oklahoma Annual Franchise Tax Return

Item A Place the taxpayer FEIN in Block A.

Item B Enter the Account number issued by the Oklahoma Tax Commission beginning with FRX followed by ten digits. If no number has been issued, leave blank.

Item C • Place the beginning and ending reporting period (MM/DD/

YY)for the Franchise Tax license year for which you are re- porting in Block C. Example: For returns due July 1, 2016 the reporting period beginning would be 07/01/16. The reporting

period ending would be 06/30/17.

•The reporting period for corporations which have filed Form 200-F, and elected a different filing date, will be the next fiscal year. Example: A corporation has a year end of 05/31/16 with a return due August 15, 2016. The reporting period begin- ning will be 06/01/16 and the reporting period ending will be 05/31/17.

Item D Place the due date (MM/DD/YY) in Block D.

Item E Place an “X” in the box if you are incorporated in the State of Oklahoma.

Item F Place an “X” in the box if you are incorporated in a state other than Oklahoma.

Item G Place an “X” in the box if you are filing an amended return.

Item H Place an “X” in the box if you have not completed a year end balance sheet and are therefore filing an estimated return. You must file an estimated return and remit tax due.

Item I Place an “X” in the box if your mailing address has changed. Write your new address in the space provided.

Item J Enter your balance sheet date (MM/DD/YY) of your most

recent income tax accounting year. Do NOT leave blank. If the corporation has not completed its first taxable year enter June

30 of the current year as the balance sheet date.

(Continued from lower left column)

Lines 1 through 11 (except 9) are derived from your balance sheet. Put the date of the balance sheet in box J.

Line 9 (Percent of Oklahoma Assets)

Select which option you will use to determine the apportion- ment 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 decimal points.

Option 2: Percent of Oklahoma assets to total net assets (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. If your return is due July 1, 2014 or later, you are

exempt from paying tax if your tax liability is $250.00 or less, however, a return must still be filed.

Line 13 (Registered Agent Fee)

If the corporation originated in a state other than Oklahoma, the Oklahoma Secretary of State charges an annual regis-

tered agent fee of $100.00 and is collected on the franchise tax return. Non-profit corporations originating in another state will be sent Form 200-N “Foreign Not-For-Profit Corporation

Annual Franchise Tax Return”. Line 14 (Interest)

If this return is postmarked after the due date the tax is sub- ject 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 report is late.

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 meet all outstanding filing and payment obligations in order to be

reinstated. Effective July 1, 2017, a $150.00 reinstatement fee

is also required. Only one reinstatement fee is required even if multiple past due returns are being filed.

Line 17 (Previous Estimated Franchise Payment)

•Enter any estimated franchise tax paid with Form 200

•If filing an amended return, enter any franchise tax paid with the original return and amounts paid after it was filed.

Line 18 (Total Due)

Add the amounts from lines 12 through 16, subtract any entry on line 17, and enter total on line 18. Amount on line 18 can- not be less than zero.

Third Step...

Schedule A Officer Information

Enter the effective date of officers. Refer to the example on Schedule A. Failure to provide this information could result in the corporation being suspended.

Fourth Step...

Mail this return to the address below. Include your return, payment made payable to Oklahoma Tax Commission, balance sheet, and schedules A, B, C, and D.

Please Mail To:

Oklahoma Tax Commission

PO Box 26850

Oklahoma City, OK 73126-0850

Phone Number for Assistance – 405.521.3160

Mandatory inclusion of Social Security and/or Federal Employer’s

Identification numbers is required on forms filed with the Oklahoma

Tax Commission (OTC) pursuant to 68 of the Oklahoma Statutes and regulations thereunder, for identification purposes, and are deemed to be part of the confidential files and records of the OTC.

The OTC is not required to give actual notice to taxpayers of changes in state laws.

(Continued top of right column)

When dealing with the Oklahoma Franchise form, several additional documents and forms may be required to ensure compliance and provide complete information to the Oklahoma Tax Commission. Below is a list of commonly used forms that accompany the Oklahoma Franchise form, along with brief descriptions of each.

Form 200-F: Franchise Election Form - This form is used by corporations that wish to change their filing frequency or align their franchise tax filing with their corporate income tax due date. It must be submitted by July 1 each year.
Schedule A: Current Officer Information - This schedule collects information about the current corporate officers. It requires names, addresses, and Social Security Numbers, ensuring that the Tax Commission has accurate records of corporate leadership.
Texas Motorcycle Bill of Sale form: This form is a legal document necessary for the sale or purchase of a motorcycle in Texas. It includes important details such as buyer and seller information, motorcycle specifics, and the terms of the sale. Make sure to properly complete the Motorcycle Bill of Sale form to ensure a smooth transaction.
Schedule B: General Information - This schedule provides details about the corporation's structure, including the type of business, date of formation, and the nature of business activities. It also includes information about authorized capital stock.
Schedule C: Related Companies - This schedule lists subsidiaries and affiliates of the corporation, detailing ownership percentages and financial investments. It helps the Tax Commission understand corporate relationships.
Schedule D: Details of Current Debt - This schedule outlines the corporation's current debts, including the names of lenders and the amounts owed. It provides transparency about financial obligations.
Oklahoma Income Tax Return - While not directly part of the franchise tax, the income tax return may be required for refund applications related to franchise tax overpayments. It ensures that all tax filings are consistent and complete.

These documents work together with the Oklahoma Franchise form to create a comprehensive view of a corporation's financial and operational status. Properly completing and submitting all required forms helps ensure compliance with state regulations and avoids potential penalties.

Name of Subsidiary

Percentage Owned (%)

Financial Investment ($)

Understand the Filing Requirement: Every corporation organized in Oklahoma or doing business in the state must file the Annual Franchise Tax Return, Form 200, unless exempt.
Know the Due Date: The tax is due on July 1 each year, with a deadline of September 15 for payment. Late payments incur penalties and interest.
Provide Accurate Information: Use the correct corporate name and Federal Employer Identification Number (FEIN) to ensure timely processing of your return.
Include Officer Information: List all current corporate officers, including their names, addresses, and Social Security Numbers. This is mandatory.
Calculate Tax Based on Assets: The franchise tax is based on total assets in Oklahoma compared to total assets everywhere. Follow the balance sheet guidelines carefully.
Online Filing is Available: Use the Oklahoma Taxpayer Access Point (OkTAP) to file your return and pay online easily.
Be Aware of Maximum Tax Limits: The maximum annual franchise tax is $20,000. If your tax is $250 or less, you can file a “no tax due” return.
Consider Reinstatement Fees: If your charter is suspended, a reinstatement fee of $150 is required to restore your corporate status.

▼ Oklahoma Franchise