2008 Oklahoma Corporation Income Tax Forms and Instructions · 2008 2008 2008 2008 2008 2008 2008...

• Includes Form 512and Form 512-TI

2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 20082008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008

2008 Oklahoma Corporation

Income Tax Forms and Instructions

2-D Fill-in Forms with Online Calculations

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This packet contains: •Instructionsforcompleting theForm512 •Two512corporationincome taxforms •TwoForm512-TIComputation ofOklahomaConsolidated TaxableIncome

Filing date: •YourOklahomareturnisdue thesamedateasyour Federalreturn.

For assistance or forms: •Seepage16formethods ofcontactingtheOklahoma TaxCommission.

www.tax.ok.gov

What’s New in the 2008 Oklahoma Packet?

Liability for Filing Your Return...

EveryresidentorforeigncorporationsubjecttotaxationunderOklahomastatutesshallmakeareturn,whetherornotitshallhaveanynetincome.NOTE:SmallBusinessCorporations(SubchapterS)mustuseForm512-S.

Time and Place for Filing...

The return must be filed on or before the 15th day ofthethirdmonthfollowingthecloseofthetaxableyearwiththeOklahomaTaxCommission,POBox26800,OklahomaCity,Oklahoma73126-0800.Avalid extension of time in which to file your Federal returnautomaticallyextendstheduedateofyourOklahomareturnifnoOklahomaliabilityisowed.AcopyoftheFederalextensionmustbeenclosedwithyourOklahomareturn.IfyourFederalreturnisnotextended,oranOklahomaliabilityisowed,anextension of time to file your Oklahoma return may begrantedonForm504.TheForm504mustbefiled on or before the due date of the return.90%ofthetaxliabilitymustbepaidwiththeexten-siontoavoiddelinquentpenaltyforlatepayment.100%oftaxliabilitymustbepaidwiththeextensiontoavoiddelinquentinterestforlatepayment.Inthecaseofcompleteliquidationorthedissolu-tionofacorporation,thereturnshallbemadeonorbeforethe15thdayofthefourthmonthfollowingthemonthinwhichthecorporationiscompletelyliquidated(ortheFederalduedate).

Fiscal Year and Short Period Returns...

For all fiscal year and short period returns, the beginningandendingdatesofthetaxyearmustbeshownonthetopportionofthereturnwhereindicated.Omissionofthisinformationmaycauseasignificant delay in the processing of the return and nointerestwillaccrueonanyrefundpending.

General Filing Information

•TheOklahomaCapitalGainDeductionhasbeenexpanded.Forfurtherinformation,seetheinstructionsonpage6.

•Seepage7forinformationonthe50%FirstYearBonusDepreciationadjustment.

•SeeinstructionsforScheduleA,Line10andScheduleB,Line2onpage10forinformationontherequiredaddbackofexpensespaidtoacaptiverealestateinvestmenttrust.

•AdonationmaybemadefortheSupportofProgramsforOklahomaFoodBanks.Forfurtherinformation,seetheinstructionsonpage15.

GeneralFilingInformation...........................2-4

EstimatedIncomeTaxInformation.................3

AmendedReturns...........................................3

LinebyLineInstructions............................5-15

GeneralInstructionsforDeterminingOklahomaTaxableIncome..........................5-8

QuickTaxInformation......................................7

ScheduleAInstructions.............................9-10

ElectronicCheckInformation..........................9

ScheduleBInstructions...........................10-11

PageOneofForm512Instructions.........11-15

WhenYouAreFinished................................15

HowtoContacttheOTC..............................16

Table of Contents

Common Errors

Belowarethemostcommonerrorsonlastyear’sreturns.Toaidinprocessingyourreturn,pleasedoublecheckyourreturncarefully.

•CheckyourFEINonallformsandschedules.

•Fiscalyeardatesareacommonproblem. If you file based on a fiscal year, please list dates ontopofformwhereindicated.

•EncloseacompletecopyofyourFederalreturn.

•Encloseallrequiredschedules.

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Consolidated Returns...If a Federal consolidated return is filed, an Oklahomaconsolidatedreturnmayberequiredorpermittedundercertaincircumstances.An election to file a separate return or consolidated return is made with the timely filing of the return. If an affiliated group of corporations elects to file aconsolidatedOklahomaincometaxreturnsuchelection shall be binding. The affiliated group of corporations shall be required to file a consolidated OklahomaincometaxreturnforallfuturetaxyearsunlesstheOklahomaTaxCommissionreleasestheaffiliated group of corporations from such election.In filing a Consolidated Income Tax Return for Oklahoma,theOklahomataxableincomeforeachcorporationiscomputedseparatelyonitsownfactorsandthencombinedforonetotalincomeuponwhichthetaxiscomputed.CompleteForm 512-TI:ComputationofOklahomaConsolidatedTaxableIncometodeterminethecombinedtaxableincometoreportonpage1,line1ofForm512.SubmitaseparateScheduleAandScheduleB,ifapplicable,foreachcompanywithintheconsolidation.EncloseacopyoftheFederalconsolidatedreturnwithanincomestatement,balancesheet,M-1,M-2,M-3andsupportingschedulesforeachmem-beroftheconsolidatedgroup.Title68O.S.Section2367.

Special Instructions Regarding Form 512, Page 4...

CompletePage4orattachacopyoftheFederalForm1120SchedulesL,M-1andM-2.CorporationsthatarenotrequiredtocompleteFederalForm1120SchedulesL,M-1andM-2arestillrequiredtocompletetheOklahomaForm512,Page4-BalanceSheets,ReconciliationofIncomeperBookswithIncomeperReturn(OKM-1)andAnalysisofUnappropriatedRetainedEarningsperBooks(OKM-2).CorporationsthatarenotrequiredtocompleteFederalForm1120ScheduleM-1duetotherequirementtocompleteScheduleM-3musteithercompletetheOklahomaScheduleM-1orencloseacopyoftheFederalScheduleM-3.

Declaration of Estimated Tax...Corporationsmustmakeestimatedtaxpaymentswhenthetaxliabilityforthecurrentyearcanreasonablybeexpectedtobe$500ormore.Theestimatedtaxpaymentsshallbethelesserof70%ofyourcurrentyear’staxliabilityor100%ofthetaxliabilityshownonyourreturnfortheprecedingtaxableyearof12months.

Theestimatedtaxpaymentsshallbepaidinfourequal*installmentsof: •one-quarteronorbeforethe15thdayof thefourthmonthofthetaxableyear; •one-quarteronorbeforethe15thdayof thesixthmonthofthetaxableyear; •one-quarteronorbeforethe15thdayof theninthmonthofthetaxableyear; •one-quarteronorbeforethe15thdayof the first month of the succeeding taxableyear.

Amended declarations may be filed on any of the paymentdates.The Form OW-8-ESC, for filing estimatedpayments,willbeprovideduponrequest.

*Forpurposesofdeterminingtheamountoftaxdueonanyoftherespectivedates,taxpayersmaycomputethetaxbyplacingtaxableincomeonanannualizedbasisasprescribedinRule710:50-13-9.

EstimatedpaymentscanbemadeelectronicallythroughtheOklahomaTaxCommissionwebsite.Visitthe“PaymentOptions”pageonthewebatwww.tax.ok.govforfurtherinformation.

Thereisnoprovisioninthepresentlawfortentativereturns.

Amended Returns...UseForm512Xforallamendedreturns.EnclosefederalForms1120Xor1139andproofofdispositionbytheInternalRevenueServicewhenapplicable.

Anoverpaymentonanamendedreturnmaynotbecreditedtoestimatedtax,butwillberefunded.Theamountappliedtoestimatedtaxontheoriginalreturncannotbeadjusted.


Oklahoma Net Operating Loss Deduction...

Notice:TheamountofanynetoperatinglossdeductionclaimedonScheduleA,line29aorScheduleB,line6d,mustalsobeenteredonthefrontofForm512inthespaceprovidedatthetopoftheform.

TheamountofanyFederalnetoperatinglossde-ductionshallbeadjustedasfollows:

TheamountofanynetoperatinglossdeductionallowedforthetaxableyearshallbeanamountequaltotheaggregateoftheOklahomanetoperatinglosscarryoversandcarrybackstosuchyear.OklahomanetoperatinglossesshallbeseparatelydeterminedbyreferencetoSection172 of the Internal Revenue Code as modified bytheOklahomaIncomeTaxActandshallbeallowedwithoutregardtotheexistenceofaFederalnetoperatingloss.Fortaxyears1996-2000,netoperatinglossesmaynotbecarriedbackbutmaybecarriedforwardforaperiodoftimenottoexceed15years.For tax years 2001 and subsequent, net operating losses may be carried forward and back in accordance with Section 172 of the Internal Revenue Code. Title68O.S.Section2358(A)(3).

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Adjustments by Internal Revenue Service...Taxpayers who file “consents” extending the time formakingFederaladjustmentsautomaticallyextendthetimeformakingstateadjustments.Thetaxpayer is also required to file an amended return reportingallInternalRevenueServiceadjustments.A copy of the finalized RAR must be furnished.

Banks and Credit Unions...Stateandnationalbanksandstatecreditunionsaresubjecttoan“InLieu”tax.SeeTitle68O.S.Section2370andTitle68O.S.Section1201etseq.(FranchiseTax).WhenreportingincomeonScheduleA,line(s)5and/or6b,pleasefurnishadetailedscheduleoftheinterestincomebysourceandamount.Expensedeductionsclaimedinar-rivingattaxableincomeshallbereducedbyanamountequalto50%ofexcludedinterestincomeonobligationsoftheUnitedStatesgovernmentoragenciesthereofandobligationsoftheStateofOklahomaorpoliticalsubdivisionsthereof.

Adetailedschedulemustbefurnishedforanynetoperatinglosscarriedforwardtothecurrenttaxyear.

Anelectionmaybemadetoforegothecarrybackperiod.Awrittenstatementoftheelectionmustbepart of the the original timely filed Oklahoma loss-year return. If the corporation timely filed its return fortheloss-yearwithoutmakingtheelection,itmaymake the election on an amended return filed within 6monthsoftheduedateofthelossyearreturn(excludingextensions).Attachtheelectiontotheamendedreturn.Oncemade,theelectionisirrevo-cable.

Refundable Credits...

A refundable credit is available for qualified capital expenditures,wagesandtrainingexpensesincurredbyabusinessenterprisewhoseprincipalactivityisdataprocessingservices,computersystemsdesignservicesorothercomputerrelatedservicesthat,asofJuly1,2005,maintainsanOklahomaannualpayrollofatleast$85millionandanOklahomalaborforceof1,000ormorepersons.TheComputerIndustryCreditmaybeclaimedbyfiling Form 580 at any time. Or, the credit may be claimedontheestimatedtaxlineoftheincometaxreturn,inwhichcase,Form580mustbeenclosedwiththereturn.Title68O.S.Section2357.201andRule710:50-15-100.

A refundable credit is available for qualified capital expenditures,wagesandtrainingexpensesincurredbyabusinessenterprisewhoseprincipalactivityisthemanufactureofwingcomponentsforlargecommercialaircraftandotheraerospacestructuresandcomponentsforcommercialandgovernmentaerospaceproducts.TheAerospaceIndustry Credit may be claimed by filing Form 581 atanytime.Or,thecreditmaybeclaimedontheestimatedtaxlineoftheincometaxreturn,inwhichcase,Form581mustbeenclosedwiththereturn.Title68O.S.Section2357.202andRule710:50-15-100.

Electronic Payment Options Available at

www.tax.ok.gov

If you are the Refinery -(ScheduleA,Line26,columnBorScheduleB,Line3-asadeduction)Tomaketheelectiontoexpensethecostofqualified refinery property located in Oklahoma inthetaxyearinwhichtheexpenseisincurred,deduct the cost of the property on a timely filed return,unlessasecondelectionismadebytherefinery to allocate all or a portion of the deduction toitsowners.Ifthesecondelectionismade,donotdeductsuchportiononForm512.Eachownerwillreporttheirallowableshareofthedeductionontheirownincometaxreturn;see“Theelectiontoallocateexpensetoowners”below.

If you are the Refinery -(ScheduleA,Line10,columnBorScheduleB,Line2-asanaddition)Iftheelectionwasmadetoexpensethecostofqualified refinery property located in Oklahoma on thisyear’soronapreviousyear’sOklahomareturn,thedepreciationdeductionclaimedontheFederalreturnforsuchpropertymustbeaddedbacktoarriveatOklahomataxableincome.Thisadditionmustbemaderegardlessofwhethertheexpenseisclaimedonthecorporatereturnorallocatedtoitsowners.

• The election to allocate expense to ownersThe refinery may elect to allocate all or a portion ofthedeductiontoitsowners.Theallocationforeachpersonisequaltotheratableshareofthetotalamountallocated,determinedonthebasisoftheownershipinterestoftheperson.Ifthiselectionis made, such portion of the cost of the qualified refinery property is not deducted as an expense onForm512.Eachownerreportstheirallowableshareofthedeductiononthedesignatedlineontheir own income tax return. The refinery must attach a schedule stating the qualified refinery property(ies),thedate(s)placedinservice,thetotalcostbeingexpensed,andtheportionofsuchexpenseallocatedtoeachowner,includingtheowner’s name and Federal Identification Number.

Line by Line Instructions

Income Computation...

BeginningwithFederaltaxableincome,properadjustmentsaretobemadetoarriveatOklahomataxableincome.Someoftheadjustmentsmaybetoaddinterestincomefromobligationsofstateandpoliticalsub-divisionsthereof,andtodeductinter-estfromU.S.obligations.Oilandminingproduc-tionorroyaltiesandgainorlossfromdispositionofsuchpropertyshallbeallocatedaccordingtotheirsitus.Generalandadministrativeexpenses,suchasinterestexpense,etc.,willordinarilybeallocatedonthebasisofOklahomadirectexpensetototaldirectexpense.

Safety Pays OSHA Consultation Service Exemption:(ScheduleA,Line26,columnBorScheduleB,Line3)AnemployerthatiseligibleforandutilizestheSafetyPaysOSHAConsultationServiceprovidedbytheOklahomaDepartmentofLaborshallreceivea$1,000exemptionforthetaxyeartheserviceisutilized.EmployersmustbeabletosubstantiatetheirparticipationintheOklahomaDepartmentofLabor’sSafetyPaysConsultationServiceuponrequest.

Qualified Refinery Property: (Title68O.S.Section2357.204)

• The election to expense instead of depreciateA refinery may elect to treat 100% of the cost of qualified refinery property located in Oklahoma asanexpensethatisnotchargeabletoacapitalaccount.Anycostsotreatedisallowedasadeduction for the year in which the qualified refinery propertyexpenseisincurred.Oncemade,theelectionisirrevocablewithouttheconsentoftheOklahomaTaxCommission.ThedepreciationdeductedontheFederalreturnforsuchpropertymustbeaddedbackinthisandinallsubsequentyears.

Note:AreportmustbeattachedtocertifythattheprovisionsofTitle68O.S.Section2357.204(E)&(F)havebeenmet.Nodeductionallowedunderthissection will be allowed unless this certification is enclosed with the refinery’s income tax return.

General Instructions for Determining Oklahoma

Taxable Income

5

Don’t forget to copy your return for your files

before mailing.


If you are the Owner -(ScheduleA,Line26,columnBorScheduleB,Line6-asadeduction)Deduct the portion of the cost of the qualified refinery property allocated to you as an owner in the refinery. Attach a schedule stating your corporate name and FEI number, the refinery/ company name and FEI number, the qualified refinery property(ies), the date(s) placed in service, andtheportionofcostallocatedtoyou.

Cost of complying with Sulfur Regulations: (Title68O.S.Section2357.205)A qualified refinery may make an irrevocable electiontoallocatealloraportionofthecostofcomplyingwithsulfurregulationsissuedbytheEnvironmentalProtectionAgencyasadeductionallowabletoitsowners.Theallocationforeachpersonisequaltotheratableshareofthetotalamountallocated,determinedonthebasisoftheownershipinterestoftheperson.Thetaxableincome of the refinery shall not be reduced by the reasonofanyamountallowedunderthissection.

If you are the Refinery -Tomaketheelection,attachaschedulestatingyourcorporatenameandFEInumber,alistofthecostsofcomplyingwithsulfurregulationssomeorallofwhicharebeingallocatedtoyourowners,andtheportionofsuchcostsallocatedtoeachowner,includingtheowner’snameandFederalIdentification Number. You shall also provide each ownerwithwrittennoticeoftheamountoftheallocation.ThenoticemustincludeyourcorporatenameandFEInumberandtheowner’snameandFederal Identification Number.

If you are the Owner -(ScheduleA,Line26,columnBorScheduleB,Line6)Deducttheportionofthecostofcomplyingwithsulfurregulationswhichhavebeenallocatedtoyou.Attachthewrittennoticeoftheallocationreceived from the refinery.

Oklahoma Capital Gain Deduction:(ScheduleA,Line26,columnBorScheduleB,Line6)CorporationscandeductqualifyinggainsreceivingcapitaltreatmentwhichareincludedinFederaltaxableincome.“Qualifyinggainsreceivingcapital

treatment”meanstheamountofthenetcapitalgains, as defined under the Internal Revenue Code Section1222(11).Thequalifyinggainmust:

1) BeearnedonrealortangiblepersonalpropertylocatedwithinOklahomathatyouhaveowned,eitherdirectlyorindirectly,forat least five uninterrupted years prior to the dateofthesale;

2) BeearnedonthesaleofstockorownershipinterestinanOklahomaheadquarteredcompany,limitedliabilitycompany,orpartnershipwheresuchstockorownershipinteresthasbeenowned,eitherdirectlyorindirectly,byyouforatleastthreeuninterruptedyearspriortothedateofthesale;or

3) Beearnedonthesaleofrealproperty,tangiblepersonalpropertyorintangiblepersonalpropertylocatedwithinOklahomaaspartofthesaleofallorsubstantiallyalloftheassetsonanOklahomacompany,limitedliabilitycompany,orpartnershipwheresuchpropertyhasbeendirectlyorindirectlyownedbysuchentityorownedbytheownersofsuchentity,andusedinorderivedfromsuchentityforaperiodofatleastthreeuninterruptedyearspriortothedateofthesale.

EncloseForm561-CandacopyofyourFederalScheduleD.

Employers Providing Child Care Programs for their Employees:(ScheduleA,Line10,columnBorScheduleB,Line6asanaddition)EmployersincurringexpensestoprovideOkla-homachildcareservicesforchildrenoftheiremployeesmaybeallowedacredit.Ifallowed,theeligibleexpensesuponwhichthecreditisbasedmustbeaddedbacktoarriveatOklahomatax-ableincome.SeeForm511CR,Number12forthecredit.Encloseascheduleofeligibleexpensesandthecomputationofthecredit.Title68O.S.Section2357.26andRule710:50-15-91.

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General Instructions for Determining Oklahoma Taxable Income, continued


Agricultural Commodity Processing Facility Exclusion:(ScheduleA,Line26,columnBorScheduleB,Line6)Ownersofagriculturalcommodityprocessingfacili-tiesmayexclude15%oftheirinvestmentcostsinaneworexpandedagriculturalcommodityprocess-ingfacilitylocatedwithinOklahoma.Agriculturalcommodityprocessingfacilitymeansbuilding,structures, fixtures and improvements used or oper-atedprimarilyfortheprocessingorproductionofagriculturalcommoditiestomarketableproducts.Theinvestmentisdeemedmadewhenthepropertyisplacedinservice.

Undernocircumstancesshallthisexclusionloweryourtaxableincomebelowzero.Intheeventtheexclusiondoesexceedtaxableincome,anyun-usedportionmaybecarriedoverforaperiodnottoexceedsixyears.Aschedulemustbeenclosedshowingthetypeofinvestment(s),thecostoftheinvestment,andthedateplacedinservice.

First Year Bonus Depreciation:• 30% First Year Bonus Depreciation...

Federaltaxableincomeshallbeincreasedby80%ofanyamountofbonusdepreciationreceivedundertheFederalJobCreationandWorkerAs-sistanceActof2002.Anyamountaddedbackcanbe reclaimed in a later year. In the first taxable year beginningafterthebonusdepreciationwasaddedback,andforthenextthreetaxableyears,subtract25%oftheamountaddedback.

(ScheduleA,Line20,columnBorScheduleB,Line6)Ifthebonusdepreciationwasclaimedonaprevi-ousyear’sFederalreturn,subtract25%oftheamountofbonusdepreciationaddedbackinsuchyear.SubtractthedepreciationonScheduleA,Line20,columnBoronScheduleB,Line6.Forcorporations filing Schedule B in the initial year, 25%ofthebonusdepreciationthatwasappor-tionedtoOklahomainsuchinitialyearissubtract-ed.(DonotusetheamountofbonusdepreciationaddedbackonScheduleB,Line2oftheinitialyear.)

Encloseascheduleofyourcomputation.

Note:LimitedLiabilityCompaniesarenotcorpora-tionssubjecttothisadjustment.

• 50% First Year Bonus Depreciation...

ScheduleA,Line10,columnBorScheduleB,line2asanadditionorScheduleA,Line20,columnBorScheduleB,line6asadeduction.

Federaltaxableincomeshallbeincreasedby80%ofanyamountofbonusdepreciationreceivedundertheFederalEconomicStimulusActof2008.Anyamountaddedbackcanbereclaimedinalateryear. In the first taxable year beginning after the bo-nusdepreciationwasaddedbackandforthenextthreetaxableyears,subtract25%oftheamountaddedback.

Ifthebonusdepreciationisclaimedonthe2008Federalreturn,enter80%ofsuchbonusdeprecia-tiononScheduleA,Line10,columnBoronSched-ule B, line 2. For corporations filing schedule B, the bonusdepreciationwillbeapportionedtodeter-minetheamountaddedbacktoOklahomataxableincome.

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TheOklahomaTaxCommission’sQuickTaxsystemisavailable for your business tax filing needs. This online systemwillacceptreturnsandpaymentsforthefollowingtaxtypes:

SalesTax•UseTax(vendorandconsumer)WithholdingTax•MixedBeverageTax

WasteTireTaxNonresidentRoyaltyWithholdingTax

EstimatedIncomeTax

PaymentoptionsincludeACHdebit,ACHcredit,andcreditcard.Setupjustlikeyourpaperforms,theQuick-Taxsystemisfasterandmucheasierthanthepapermethod. Also, when you finish, you will receive a confir-mationnumber,givingyouthepeaceofmindinknowingyourreportandpaymenthavebeenreceived.

Logontoourwebsiteatwww.tax.ok.gov.Give QuickTax a try with your next business tax filing, because you didn’t go into business to file tax forms!

TMQ Tuick axBusiness Tax Filing System

Because You Didn’t Go into Business to File Tax Forms...



8

Ifthebonusdepreciationwasclaimedonthe2007Federalreturn,subtract25%oftheamountofbo-nusdepreciationaddedbackinsuchyear.SubtractthedepreciationonScheduleA,Line20,columnB or on Schedule B, line 6. For corporations filing scheduleBintheinitialyear,25%ofthebonusde-preciationapportionedtoOklahomaissubtracted.

Encloseascheduleofyourcomputation.

Note:LimitedLiabilityCompaniesarenotcorpora-tionssubjecttothisadjustment.

Indian Employment Exclusion:(ScheduleA,Line26,columnBorScheduleB,Line3)All qualified wages equal to the federal Indian EmploymentCreditsetforthin26U.S.C.A.,Section45A,shallbedeductedfromtaxableincome.De-ductontheOklahomareturn,anamountequaltothereductionofsalariesandwagesreportedonthefederalreturnasaresultoftheForm8845“IndianEmploymentCredit”.ThedeductionallowedshallonlybepermittedforthetaxyearsinwhichtheFederalcreditisallowed,evenifnotusedinsuchyearbecauseoftaxliabilitylimitations.EncloseacopyoftheFederalreturn,Form8845andifappli-cable,Form3800.

Schedule A FilersBonusDepreciationClaimedonFederalReturn 100,000

AddBacktoOklahomaIncome 80% 80,000

2008

ClaimedonScheduleA,Line20(AttachStatement)

50% Bonus Depreciation Example:2009 2010 2011 2012

Schedule B FilersBonusDepreciationClaimedonFederalReturn 100,000

AddBacktoFederalIncome 80% 80,000

OklahomaApportionmentPercentagefor2008(YearoftheAddBack) 40%

ApportionedAmountofAddBack 32,000

2008 2009 2010 2011 2012

SubsequentYearSubtraction 25% 20,000 20,000 20,000 20,000

ClaimedonScheduleB,Line6(AttachStatement)

SubsequentYearSubtraction 25% 8,000 8,000 8,000 8,000

Credit Card Payments Youcanpaythebalanceduebycreditcard.Paymentscanbemadeforanytaxyear.Estimatedincometaxpaymentsarealsoaccepted.

• Log on to our website at www.tax.ok.gov. Click on the “Payment Options” link to pay online.• You may also make a payment by credit card by phone at: 1-866-289-0455.

Pleasekeepinmindthatthereisaconveniencefeeof2.5%forutilizingthisservicebasedontheamountcharged.

Looking for a formthat will do the math

for you?Check out Oklahoma Form 512 2-D on our website at www.tax.ok.gov.


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Line 5 -Interest on U.S. Government ObligationsIfyoureportinterestonbonds,notes,andotherobligationsoftheU.S.onyourFederalreturn,itmaybeexcludedfromyourOklahomaincomeifadetailedscheduleisfurnished,accompaniedwith1099sshowingtheamountofinterestincomeandthenameoftheobligationfromwhichtheinterestisearned.IftheincomeisfromamutualfundwhichinvestsinU.S.Governmentobligations,enclosedocumentationfromthemutualfundtosubstantiatethepercentageofincomederivedfromobligationsexemptfromOklahomatax. Interest from entities such as FNMA & GNMA does not qualify.

Line 6a - Other InterestAccountsreceivableinterestincomeandinterestincomefrominvestmentsheldtogenerateworkingcapitalshallbeallocatedtoOklahomaonthebasisofdirectexpense.

Allotherintangibleincome(loss)shallbeallocatedinaccordancewiththesitusofthecorporation.

Line 6b - State and Municipal InterestCorporationsdomiciledinOklahomathatreceiveincomeonbondsissuedbyanystateorpoliticalsubdivisionthereof,exemptfromFederaltaxationbutnotexemptfromtaxationbythelawsoftheStateofOklahoma,shalladdthetotalofsuchincometoarriveatOklahomaincome.

Schedule A, Column A is to be completed by all corporations. All corporations start with Schedule A.

Schedule A, 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, farming, 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 allocated on the basis of direct expense in Oklahoma to the total direct expense everywhere.

Electronic ChecksNow Accepted

Through Website

Paperchecksarenotyouronlyoptionwhenpayingyourbalancedue.Youmaypayelectronicallyfromyourcheckingaccountthroughourwebsite.

Logontowww.tax.ok.govandvisitthe“Payment Options”linktoviewallyourpaymentoptions.

Othertaxtypesarealsoacceptedthroughthispaymentsystem,includingesti-matedtaxpayments.

Page Two - Schedule A

1) Incomefromallbonds,notesorotherobligationsissuedbytheStateofOklahoma,theOklahomaCapitalImprovementAuthority,theOklahomaMunicipalPowerAuthority,theOklahomaStudentLoanAuthority,andtheOklahomaTransportationAuthority(formerlyTurnpikeAuthority)isexemptfromOklahomaincometax. The profit from the sale of such bond, noteorotherobligationsshallbefreefromtaxation.

2) IncomefromlocalOklahomagovernmentalobligationsissuedafterJuly1,2001,otherthanthoseprovidedforin1,isexemptfromOklahomaincometax.Theexceptionsarethoseobligationsissuedforthepurposeof providing financing for projects for nonprofit corporations. Local governmental obligationsshallincludebondsornotesissued by, or on behalf of, or for the benefit ofOklahomaeducationalinstitutions,cities,towns,orcountiesorbypublictrustsofwhich any of the foregoing is a beneficiary.

3) IncomefromOklahomaStateandMunicipalBondsissuedpriortoJuly2,2001,otherthanthoseprovidedforin1,isexemptfromOklahomaincometaxonlyifsoprovidedbythestatuteauthorizingtheirissuance.

4) Incomeonbondsissuedbyanotherstateorpoliticalsubdivisionthereof(non-Oklahoma),exemptfromFederaltaxation,istaxableforOklahomaincometax.

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Line 1 - Federal Taxable IncomeEnterNetTaxableIncomefromScheduleA,Col-umnA,line30.

Line 2 - AdditionsDeductionsrelatingtoincomewhichisseparatelyallocatedshallnotbeallowedandwillbeenteredhere.

RentsandinterestexpensespaidtoacaptiverealestateinvestmenttrustanddeductedonyourFed-eralreturnmustbeaddedbacktocomputeOkla-homataxableincome.

Line 3 - Deductions IncomefromU.S.obligations(seepage9,Sched-uleAinstructions)andnetincomeseparatelyal-located(oilandgasproduction,mining,farming,orrentals)willbeenteredhere.Gainsorlossesfromsaleofintangiblepersonalpropertywhichisdirectlyallocatedshouldalsobeenteredhere.

Line 6 - Oklahoma Additions and DeductionsIncomeseparatelyallocatedtoOklahomashouldbeenteredhere.(Examples:interestincomefromstateobligationsorpoliticalsubdivisions,oilandgasproduction,mining,farmingorrentals,etc.).

ScheduleBistobeusedbycorporationscon-ductingabusinessofaunitarynature.Aunitarybusinessisonewhoseincomeisderivedfromtheconductinmorethanonestateofasinglebusinessenterprise,allthefactorsofwhichareessentialtotherealizationofanultimategainderivedfromtheenterpriseasawhole,andnotfromitscomponentpartswhicharetoocloselyconnectedandneces-sarytoeachothertojustifydivisionorseparateallocation.

GenerallytheresultingamountisapportionedtoOklahomabasedonthe3-factorformula.Thebasisoftheapportionmentisthearithmeticalaverageofthreefactorsconsistingofproperty,payrollandsales.NOTE:FACTORSARENOTCOMPUTEDFROMTHECONSOLIDATEDTOTALS.Eachfac-torisaratioofthetotalwithinOklahomatothetotaleverywhere.ForincomeapportionedtoOklahoma,thereistobeaddedallincomeseparatelyallocatedtoOklahomawiththeresultbeingOklahomatax-ableincome.Title68O.S.Section2358.

Page Three - Schedule B

Encloseascheduleofallmunicipalinterestreceivedbysourceandamount.Iftheincomeisfromamutualfundwhichinvestsinstateandlocalgovernmentobligations,enclosedocumentationfromthemutualfundtosubstantiatethepercentageofincomederivedfromobligationsexemptfromOklahomatax.

Note:Iftheinterestisexempt,thecapitalgain/lossfromthesaleofthebondmayalsobeexempt.Thegain/lossfromsaleofastateormunicipalbond,otherthanthoseprovidedforin1,isexemptonlyifsoprovidedbythestatuteauthorizingitsissuance.

Line 7 and 8 - Rents and RoyaltiesIncomefromrealortangiblepersonalproperty,leaseroyaltyorbonusshallbeallocatedinaccor-dancewiththesitusoftheproperty.

Line 9 - Gains or LossesGainsorlossesfromthesaleofleasesandgainsorlossesfromthesaleofrealandtangibleperson-alproperty,shallbeallocatedinaccordancewiththesitusoftheproperty.

Line 10 - Other Income(ColumnB)RentsandinterestexpensespaidtoacaptiverealestateinvestmenttrustanddeductedonyourFed-eralreturnmustbeaddedbacktocomputeOkla-homataxableincome.

Line 12 through 26 - ExpensesExpensesrelativetotheincomeaboveshallbeal-locateddirectlytothatincome.

Page Two - Schedule A, continued

Electronic PaymentsLogontowww.tax.ok.govandvisitthe

“Payment Options”linktomakeapaymentelectronically.Allelectronicpaymentmethodsprovide

you with a confirmation number and the peace of mindinknowingyourpaymentwasreceived.

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Line 3 - Oklahoma Investment Jobs CreditCorporationsengagedinmanufacturingorareawebsearchportal(includingpartnershiporSub-Spass-through)whoareentitledtoOklahomaInvest-ment/NewJobsCreditseeForm506.(ThiscredithasnorelationshiptoFederalInvestmentCredit.)Title68O.S.Section2357.4.

Line 4 - Gas Used in ManufacturingAcreditisavailableattherateofthreemillsperthousandcubicfeetofgasusedorconsumeddur-ingeachtaxableyearwhenusedinmanufacturing.This shall not apply to the first twenty-five thousand MCFusedorconsumed.Title68O.S.Section2357(C).

Line 5 - Credit for Biomedical Research ContributionAcreditisallowedtoanytaxpayerwhomakesadonation to a qualified independent biomedical researchinstitute.Thecreditis50%oftheamountdonated,butmaynotexceed$1,000.Anycredital-lowed,butnotused,willhaveafouryearcarryoverprovision.An“independentbiomedicalresearchinstitute”meansanorganizationwhichisexemptfromtaxationundertheInternalRevenueCode

section501(c)(3)whoseprimaryfocusisconduct-ingpeer-reviewedbasicbiomedicalresearch.Theorganizationshallhaveaboardofdirectors,beabletoacceptgrantsinitsownname,beaniden-tifiable institute that has its own employees and administrativestaff,andreceiveatleast$15millioninNationalInstituteofHealthfundingeachyear.Acopyofthecanceledcheckorreceiptmustbepro-videdasproofofthedonation.Title68O.S.Section2357.45.

Line 6 - Other CreditsTheamountofothercreditsasclaimedonForm511CRshouldbeenteredonthisline.Enterintheboxthenumberthatcorrespondswiththecredittowhichyouareentitled.Enter“99”ifentitledtomorethanonecredit.Seepage12foralistofthecreditsavailableonForm511CR.IfyouareclaiminganyofthecreditsonForm511CR,enclosetheform,andanyapplicableformsorschedules,withyourForm512return.

TheForm511CRcanbeobtainedbycallingourformsrequestlineat(405)521-3108orfromourwebsiteatwww.tax.ok.gov.

Page One

Line 8 - Oklahoma Accrued TaxOklahomaaccruedtaxiscomputedbydividingline7(OklahomaNetIncomebeforeOklahomaIncomeTax)bythenumber17.6667.

When filing a consolidated return, complete Form 512-TI.TheaccrualofOklahomastateincometaxmustbemadeafterthecombinationoftheincomeandlossfromallcompaniesincludedinthecombi-nation.Theaccruedtaxcannotbelessthanzero.

Whencreditsareallowed,theaccrualofOklahomataxwillnotbeallowedontheamountofOklahomataxableincomethatiscoveredbythecredit.Taxaccrualisallowedontheamountofincomeforwhichtaxisactuallypaid.Thefollowingexampleshowshowtheaccrualshouldbecalculated.Aschedule,suchastheexampletotheright,shouldbeenclosedandsubmittedwithForm512.

Computation of Tax Accrual When Tax Credits Are Allowable

1.Oklahomaincomebeforetaxaccrual 100,0002.AllowableOklahomacredits 2,000Computationofaccruedtaxallowed A.Oklahomaincome(Line1above) 100,000 B.Line2abovedividedby6% 33,333 C.SubtractLineBfromLineA 66,667 D.DivideLineCby17.6667 3,774 (IfLineDislessthan0,enter0)

3.SubtractLineDfromLine1above. 96,226

(Enter Line 3 above on Line 1, page 1 of your Oklahoma corporation income tax Form 512)

Totaltaxdue 5,774 Taxaccrualallowed 3,774 Taxcreditallowed 2,000

Page Three - Schedule B, continued


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Notice: Credits claimed on Form 512 may not be duplicated on Form 511CR and claimed as other credits, e.g. “Oklahoma Investment Jobs Credit”.

•OklahomaInvestment/NewJobsCredit EncloseForm506. Title68O.S.Section2357.4 andRule710:50-15-74.•CoalCredit Title68O.S.Section2357.11 andRule710:50-15-76.•CreditforEnergyAssistanceFundContribution Title68O.S.Section2357.6.•VentureCapitalCredit Title68O.S.Section2357.7,8 andRule710:50-15-77,78.•CreditforConversionofaMotorVehicletoClean Burning Fuels or for Investment in Qualified Electric MotorVehicleProperty Title68,O.S.Section2357.22 andRule710:50-15-81.•CreditforHazardousWasteDisposal Title27AO.S.Section2-11-303 andRule710:50-15-75.•Credit for Qualified Recycling Facility Title68O.S.Section2357.59 andRule710:50-15-84.•SmallBusinessCapitalCredit EncloseForm527-A. Title68O.S.Section2357.60-2357.65 andRule710:50-15-86.•OklahomaAgriculturalProducersCredit EncloseForm520. Title68O.S.Section2357.25 andRule710:50-15-85.•SmallBusinessGuarantyFeeCredit EncloseForm529. Title68O.S.Section2357.30.•CreditforEmployersProvidingChildCarePrograms Title68O.S.Section2357.26 andRule710:50-15-91.•CreditforEntitiesintheBusinessofProviding ChildCareServices Title68O.S.Section2357.27.•CreditforFoodServiceEstablishmentsthatPayfor HepatitisAVaccinationfortheirEmployees Title68O.S.Section2357.33.•CreditforCommercialSpaceIndustries Title68O.S.Section2357.13.•CreditforNonstopAirServicefromOklahomatotheCoast Title68O.S.Section2357.28.•CreditforTourismDevelopment Title68O.S.Section2357.34-2357.40.•OklahomaLocalDevelopmentandEnterpriseZone IncentiveLeverageActCredit Title68O.S.Section2357.81.•Credit for Qualified Rehabilitation Expenditures Title68O.S.Section2357.41 andRule710:50-15-108.

•CreditforSpaceTransportationVehicleProvider Title68O.S.Section2357.42 andRule710:50-15-93.•RuralSmallBusinessCapitalCredit EncloseForm526-A. Title68O.S.Section2357.71-2357.76 andRule710:50-15-87.•CreditforElectricityGeneratedbyZero-EmissionFacilities Title68O.S.Section2357.32A.•CreditforFinancialInstitutionsMakingLoansunderthe RuralEconomicDevelopmentLoanAct Title68O.S.Section2370.1.•CreditforManufacturersofSmallWindTurbines Title68O.S.Section2357.32B andRule710:50-15-92.•Credit for Qualified Ethanol Facilities Title68O.S.Section2357.66 andRule710:50-15-106.•PoultryLitterCredit Title68O.S.Section2357.100 andRule710:50-15-95.•Volunteer Firefighter Credit Enclose the Oklahoma State Firefighter Association’sForm,Form1AorForm1B. Title68O.S.Section2385.7 andRule710:50-15-94.•Credit for Qualified Biodiesel Facilities Title68O.S.Section2357.67 andRule710:50-15-98.•FilmorMusicProjectCredit EncloseForm562. Title68O.S.Section2357.101 andRule710:50-15-101.•CreditforBreedersofSpeciallyTrainedCanines Title68O.S.Section2357.203 andRule710:50-15-97.•CreditforWagesPaidtoanInjuredEmployee Title68O.S.Section2357.47 andRule710:50-15-107.•Credit for Modification Expenses Paid for an Injured Employee Title68O.S.Section2357.47 andRule710:50-15-107.•DryFireHydrantCredit Title68O.S.Section2357.102 andRule710:50-15-99.•Credit for the Construction of Energy Efficient Homes Title68O.S.Section2357.46 andRule710:50-15-104.•CreditforRailroadModernization Title68O.S.Section2357.104 andRule710:50-15-103.•ResearchandDevelopmentNewJobsCredit EncloseForm563. Title68O.S.Section54006 andRule710:50-15-105.•CreditforStaffordLoanOriginationFee (availableforbanksandcreditunions) Title68O.S.Section2370.3.

Page One, continued

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Page One, continued

Line 11 - Oklahoma Withholding1. EntertheOklahomaincometaxwithheld

fromyourroyaltypayments.2. Oklahomaincometaxiswithheldfromdistribu-

tionsmadebypass-throughentitiestononresi-dentmembers,unlesssuchnonresidentmem-ber has filed a withholding exemption affidavit (FormOW-15).Ifyouareanonresidentmem-ber of a pass-through entity who has not filed an affidavit, Oklahoma income tax should have beenwithheldondistributionsofOklahomatax-ableincome.EntertheOklahomaincometaxwithheldonyourdistribution.

EnclosetheForm500-A,Form1099-MISC,Form500-B,FormK-1orotherdocumentationtosub-stantiateOklahomawithholding.

Line 15 -You have the opportunity to make a financial gift from your refund to a variety of Oklahoma organizations. Enter the amount of your dona-tion and place the line number of the organiza-tion in the oval on line 15 of Form 512. If you give to more than one organization, put a “99” in the oval and attach a schedule showing howyou would like your donation split.

Oklahoma Wildlife Diversity ProgramTheOklahomaWildlifeDiversityProgramisfundedprimarilybyconcernedOklahomans.Alldonationsprovideforavarietyofprojects,includingresearchonTexashornedlizardsandotherrarewildlife,wildlifeobservationactivitiessuchaswinterBaldEagleToursandspringWatchableWildlifeWeek-ends,statewideeducationalworkshops,informa-tionalbrochuresandposters,andmanagementofabatcavepurchasedwithpreviousprogramdona-tions.

Ifyouarenotreceivingarefund,youmaystilldo-nate.Mailyourcontributionto: Wildlife Diversity Program 1801 North Lincoln Oklahoma City, OK 73105

Department of Veterans Affairs Contribution FundYoumaydonatefromyourtaxrefundtohelptheDepartmentofVeteransAffairspurchaseequip-ment,developcapitalimprovementprojectsandacquirepropertiesforexpandingorimprovingexist-ingprojects.

Ifyouarenotreceivingarefund,youmaystilldo-nate.Mailyourcontributionto: Department of Veterans Affairs PO Box 53067 Oklahoma City, OK 73152

Oklahoma Breast and Cervical Cancer FundYou may donate for the benefit of breast and cervi-calcancerearlydetection,publiceducationandresearch.Yourdonationwillbeplacedinafundtobeusedforthepurposeoffundingprogramstoincreaseknowledgeofbreastandcervicalcancerriskandpreventionandprovidemammograms,paptestsandbiopsiesforlowincomewomen.

Ifyouarenotreceivingarefund,youmaystilldo-nate.Mailyourcontributionto: Oklahoma State Department of Health Breast and Cervical Cancer Revolving Fund 1000 NE 10th St. Oklahoma City, OK 73152

Oklahoma Silver Haired Legislature and Alumni Association ProgramsYou may donate from your tax refund for the benefit ofOklahomaSilverHairedLegislatureandtheirAlumniAssociationactivities.TheOklahomaSilverHairedLegislaturewascreatedin1981asaforumtoeducateseniorcitizensinthelegislativeprocessandtohighlighttheneedsofolderpersonstotheOklahomaStateLegislature.MoniesgeneratedfromdonationswillbeusedtofundexpensesoftheSilverHairedLegislators,trainingsessions,interimstudiesandadvocacyactivities.Ifyouarenotreceivingarefund,youmaystilldo-nate.Mailyourcontributionto: Oklahoma Silver Haired Legislature and Alumni c/o Division of Aging Services 312 NE 28th Street Oklahoma City, OK 73105

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Oklahoma tax assistance available 24/7.

www.tax.ok.gov

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Page One, continued

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www.tax.ok.gov

The Oklahoma Tax Commission’s website is available 24/7 for all your tax needs.

For forms needs, you have the optionof downloading forms, ordering them online, or obtaining phone numbers for automated orders and taxpayer representative orders.

Support of Programs for Volunteers to Act as Court Appointed Special Advocates for Abused or Neglected ChildrenYoumaydonatefromyourtaxrefundtosupportprogramsforvolunteerstoactasCourtAppointedSpecialAdvocatesforabusedorneglectedchil-dren.DonationswillbeplacedintheIncomeTaxCheckOffRevolvingFundforCourtAppointedSpecialAdvocates.MonieswillbeexpendedbytheOffice of the Attorney General for the purpose of providingrecruitment,training,andsupervisionofthespecialadvocates.AllCourtAppointedSpecialAdvocateprogramsinthestateshallreceiveapor-tionofthismoney.

Ifyouarenotreceivingarefund,youmaystilldo-nate.Mailyourcontributionto: Oklahoma CASA Association, Inc. PO Box 54946 Oklahoma City, OK 73154

Oklahoma Pet Overpopulation FundYou may donate from your tax refund for the benefit oftheOklahomaPetOverpopulationFund.MoniesplacedinthisfundwillbeexpendedbytheDe-partmentofAgriculture,FoodandForestryforthepurposeofdevelopingeducationalprogramsonpetoverpopulationandforimplementingspay/neutereffortsinthisstate.

Ifyouarenotreceivingarefund,youmaystilldo-nate.Mailyourcontributionto: Oklahoma Department of Agriculture, Food and Forestry Animal Industry Division 2800 North Lincoln Blvd. Oklahoma City, OK 73105

Support the Retirement of Capitol Dome DebtYouhavetheopportunitytohelpretirethedebtincurredinconstructionandcompletionoftheOklahomaStateCapitolDome.AnyonemaydonatetotheOklahomaCentennialCommission’sFundtodefraythedomeconstructioncost.

Ifyouarenotreceivingarefund,youmaystilldo-nate.Mailyourcontributionto: Oklahoma Centennial Commemoration Fund, Inc. 133 W Main Street, Suite 100 Oklahoma City, OK 73102

Support of the Oklahoma National GuardYouhavetheopportunitytodonatefromyourtaxrefund for the benefit of providing financial relief to qualified members of the Oklahoma National Guard andtheirfamilies.DonationswillbeplacedintheIncomeTaxCheckOffRevolvingFundfortheSup-portoftheOklahomaNationalGuardReliefPro-gram.Monies,toassistOklahomaNationalGuardmembersandtheirfamilieswithapprovedhardshipexpenses,willbeexpendedbytheMilitaryDepart-ment.

Ifyouarenotreceivingarefund,youmaystilldo-nate.Mailyourcontributionto: Operation Homefront Task Force 3501 Military Circle Oklahoma City, OK 73111-4398

Oklahoma Leukemia and Lymphoma FundYouhavetheopportunitytodonatefromyourtaxrefund for the benefit of the Oklahoma Leukemia andLymphomaRevolvingFund.MoniesfromthefundwillbeusedbytheStateDepartmentofHealthforthepurposeofsupportingvoluntaryhealthagenciesdedicatedtocuringLeukemia,Lymphoma,Hodgkin’sDisease,andMyelomaandtoimprovingthequalityoflifeofpatientsandtheirfamilies.Ifyouarenotreceivingarefund,youmaystilldo-nate.Mailyourcontributionto: State Department of Health Oklahoma Leukemia and Lymphoma Revolving Fund - 228 PO Box 268823 Oklahoma City, OK 73152-8823

Line 19 -Underpayment of Estimated Tax InterestAllcorporationsarerequiredtomakeestimatedtaxpaymentsifthetaxliabilityis$500ormore.Toavoidthe20%UnderpaymentofEstimatedTaxInterest, timely filed estimated tax payments are requiredtobeequaltothesmallerof70%ofthecurrentyeartaxliabilityor100%ofyourprioryeartax.Thetaxliabilityisthetaxduelessallcreditsexceptamountspaidonestimatedtaxandexten-sionpayments.

Note: NoUnderpaymentofEstimatedTaxInterestshallbeimposedifthetaxliabilityshownonthereturnislessthan$1,000.EncloseFormOW-8-P.

Line 20 - Delinquent Penalty and InterestInterestattherateof11/4%permonthshallbepaidonthetaxduefromtheoriginalduedateuntilpaid.90%ofthetaxliabilitymustbepaidbytheoriginalduedateofthereturntoavoidadelinquentpenaltychargeof5%forlatepayment.


•Intheeventthatyouowetaxes,pleaseencloseacheckormoneyorderpayableto“OklahomaTaxCommission”. The taxpayer identification number andthetaxyearshouldbeonyourcheckormoneyorderforyourpaymenttobeproperlycredited.

•Paymentsmayalsobemadeelectronicallyonline.Visitourwebsiteformoreinformationatwww.tax.ok.gov.

•Whencomplete,makecopiesofallthedocu-mentsforyourrecords.

•Donotencloseanycorrespondenceotherthanthosedocumentsandschedulesrequiredforyourreturn.

• Forproperaccountapplication,pleasedonotencloseanyestimatedpaymentsand/orvoucherswiththisreturn.Mail2009estimatedpaymentsseparately.

•Returnmustbesigned.

When You Are Finished...

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•Pleasemailtheoriginals,alongwithanypaymentdue,to: Oklahoma Tax Commission Income Tax PO Box 26800 Oklahoma City, OK 73126-0800

Want a Form that Does the Math?

TheOklahomaTaxCommissionhasjusttheformforyou.Visitourwebsiteatwww.tax.ok.gov.Downloadthe“2-DCalculatingForm512”fromtheincometaxformsareaofthewebsite.As you fill in your form on your computer screen, this form will be doing the calculating for you. Once finished, simply printouttwocopiesbeforeclosingthedocument.Mailoneto the OTC and keep the other for your files.Byusingthisformtype,yourreturnwillhavea2-Dbarcodeatthetopandwillbeprocessedfaster.Fasterprocessingmeansafasterrefundtoyou.

10 Support of Programs for Regional Food Banks in OklahomaYoumaydonatefromyourtaxrefundfortheben-efit of the Regional Food Bank of Oklahoma and theCommunityFoodBankofEasternOklahoma(OklahomaFoodBanks).TheOklahomaFoodBanksarethelargesthunger-relieforganizationsinthestate-distributingfoodtocharitableandfaith-basedfeedingprogramsthroughoutall77countiesinOklahoma.Yourdonationwillbeusedtohelpprovidefoodtothemorethan500,000Oklahomansatriskofhungeronadailybasis.Ifyouarenotreceivingarefund,youmaystilldo-natebymailingyourcontributionto: Oklahoma Department of Human Services Revenue Processing Unit Re: Programs for OK Food Banks PO Box 53306 Oklahoma City OK 73152

Page One, continued

Oklahoma Tax CommissionIncome TaxPO Box 26800Oklahoma City, OK 73126-0800

Bulk RateU.S. Postage Paid

Oklahoma Tax Commission

16

How to Contact the Oklahoma Tax CommissionWhether 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.

Give Us a Call!TheOklahomaTax

Commissioncanbereachedat(405) 521-3160.

Thein-statetollfreenumberis(800) 522-8165.

Press“0”tospeaktoarepresentative. Alsoseethebox to the left for field office

phonenumbers.

Office Locations!Oklahoma City • (405) 521-3160

2501NorthLincolnBoulevard

Tulsa • (918) 581-2399440SouthHouston,5thFloor

Ardmore • (580) 226-4636301WestMain,Suite316

Lawton • (580) 248-84401602NWLawtonAve.,SuiteB

Visit Us on the Web!You’ll find a wealth

ofinformationonourweb-site,includingdownloadable

taxforms,answerstocommonquestions,and

online filing options for both income and business taxes!

www.tax.ok.gov

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Courtesy of Heather Castles www.illustrationcastle.com

This State of Oklahoma income tax packet and form are printed on recycled papers.

State of OklahomaCorporation Income Tax Return

For the year January 1 - December 31, 2008, or other taxable year beginning , 2008 ending , .

This form must be filed on or before the 15th day of the third month after the close of the taxable year.

B. Business Code Number

A. Federal I.D. Number

Extension Type of Return Filed Separate Consolidated

Oklahoma orFederal or

If you have applied for an extension from the IRS, check here and enclose a copy.

Name of Corporation:

Street Address:

City, State and Zip:

If this is a final return, please check here:

$ .00

If the Oklahoma Tax Commission may discuss this return with your tax preparer, please check here:

Make check payable to: “Oklahoma Tax Commission”

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 Officer Date

Title

Phone Number

Signature of Preparer Date

Preparer’s Address

Phone Number

0000

0000

0000

00000000

0000

The Oklahoma Tax Commission is not required to give actual notice to taxpayers of changes in any state tax law.

(page 3 of instructions)

1 Oklahoma taxable income (as shown on Schedule A or B or, if consolidated, from Form 512-TI) . . . . . . . 2 Tax: 6% of line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Investment/New Jobs Credit (please enclose Form 506) . . . . . . . . . . 4 Gas Used in Manufacturing (see instructions and enclose schedule) . . . 5 Credit for Biomedical Research Contribution (see instructions) . . . 6 Other Credits (total from Form 511CR) (see instructions) 7 Total (add lines 3, 4, 5 and 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Balance of tax due (line 2 less line 7, but not less than zero) . . . . . . . . . . . . . . . . . . . . . . . . 9 Amount paid on 2008 estimate . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 Amount paid with extension request . . . . . . . . . . . . . . . . . . . . . . . .11 Oklahoma withholding (enclose Form 1099, 500-A or other withholding statement)

12 Total credits (add lines 9, 10 and 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 Overpayment (line 12 minus line 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 Amount of line 13 to be credited on 2009 estimated tax . . . . . . . . .

15 Donations from your refund (total from line 15 instructions) . . . . .16 Total (add lines 14 and 15) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Amount of line 13 to be refunded to you (line 13 minus line 16) . . . . . . . . . . . . . Refund18 Tax Due (line 8 minus line 12) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Tax Due19 Underpayment of estimated tax interest (enclose Form OW-8-P) . . . . . . . . . . . . . . . . . . . . 20 For delinquent payment add penalty of 5% $__________ plus interest of 1.25% per month $__________ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21 Total tax, penalty and interest (add lines 18, 19 and 20) . . . . . . . . . . . . . . Balance Due

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Enclose a copy of Federal return

Notice:

Line 15 instructions provide you with the opportunity to make a financial gift from your refund to a variety of Oklahoma organizations. Please place the line number of the organization from the line 15 instructions in the oval below. If you give to more than one organization, please put a “99” in the oval and attach a schedule showing how you would like your donation split.

512FO

RM 2

008

Enter the amount of net operating loss as shown on Sch. A, line 29(a) or Sch. B, line 6(d)

Less

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Has the Internal Revenue Service redetermined your tax liability for prior years? Yes No What years?Has the statute of limitations been extended by consent for any prior years? Yes No What years?Did you file amended returns for the years stated above? Yes NoBusiness name and principal locations in OklahomaDate of incorporation Date business began in OklahomaGive name, address and relationship of all affiliated corporations - enclose Federal Form 851

1 Gross receipts or gross sales __________ (less: returns and allowances) . . . 2 Less: Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Gross profit (line 1 minus line 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Interest on obligations of the United States and U.S. Instrumentalities . . . . . . 6 (a) Other interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (b) Municipal interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Gross rents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Gross royalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 (a) Net capital gains . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (b) Ordinary gain or [loss] . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Other income (enclose schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Total income (add lines 3 through 10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12 Compensation of officers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Salaries and wages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Repairs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Bad debts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16 Rents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17 Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19 Charitable Contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Depletion (see instructions below) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Advertising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Pension, profit-sharing plans, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24 Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Domestic production activities deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26 Other deductions (enclose schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Total Deductions (add lines 12 through 26) . . . . . . . . . . . . . . . . . . . . . . . . . .

28 Taxable income before net operating loss deductions and special deductions 29 Less: (a) Net operating loss deduction (schedule) . . . . . . . . . . . . . . . . . . . . . (b) Special deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Taxable income (line 28 minus lines 29a & b) Enter Column B on line 1, page 1.

Gross Income (lines 1 through 11)1

2

3

4

5

6a

6b

7

8

9a

9b

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

30

29a

29b

Schedule A, 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). Enclose a complete copy of your Federal return.

Deductions (lines 12 through 27)

Totals (lines 28 through 30)

Column AAs reported on Federal Return

Column BTotal applicable

to Oklahoma

Important: All applicable lines and schedules must be filled in.

Note: Indicate method used to allocate expenses to Oklahoma and enclose schedule of computations.Oklahoma Depletion in Lieu of Federal DepletionOklahoma 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 defined in Title 52 O.S. 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. Note: Depletion schedule by property must be enclosed with return.

Form 512 - Page 2

Schedule A

Address City State Zip

Location of Principal Accounting Records

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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . (II) Depreciable property . . . . . . . . . . . . . . . . . . . . . (III) Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (IV) Total of section “a” . . . . . . . . . . . . . . . . . . . . . . (b) Rented property (capitalize at 8 times net rental paid) (c) Total of sections “a” and “b” above . . . . . . . . . . . . . . 2 (a) Payroll . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (b) Less: Officer salaries . . . . . . . . . . . . . . . . . . . . . . . (c) Total (subtract officer salaries from payroll) . . . . . . . 3 Sales : (a) Sales delivered or shipped to Oklahoma purchasers: (I) Shipped from outside Oklahoma . . . . . . . . . . . . (II) Shipped from within Oklahoma . . . . . . . . . . . . . (b) Sales shipped from Oklahoma to: (I) The United States Government . . . . . . . . . . . . . (II) Purchasers in a state or country where the corporation is not taxable (i.e. under Public Law 86-272) . (c) Total all of sections “a” and “b” . . . . . . .. . . . . . . . . . 4 If Revenue, Traffic Units or Miles Traveled is used rather than Sales, indicate here: _________________________________ 5 Total percent (sum of items 1, 2 and 3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Average percent (1/3 of total percent) (Carry to line 5, Schedule B) . . . . . . . . .. . . . . . . . . . . .

Form 512 - Page 3 Schedule B is for computation of Oklahoma taxable income of a unitary enterprise. [Section 2358(A) (5)] Enclose a complete copy of your Federal return.

Apportionment Formula

1 Net taxable income from Schedule A, Column A, line 30 . . . . . . . . . . . . . . . . . . . 2 Add: (a) Taxes based on income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (b) Federal net operating loss deduction . . . . . . . . . . . . . . . . . . . . . . . . . (c) Unallowable deduction (enclose schedule) . . . . . . . . . . . . . . . . . . . . (d) ____________________________ . . . . . . . . . . . . . . . . . . . . . . . . . . (e) ____________________________ . . . . . . . . . . . . . . . . . . . . . . . . . . (f) Total of lines 2a through 2e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Deduct all items separately allocated (a) ____________________________ . . . . . . . . . . . . . . . . . . . . . . . . . . (b) ____________________________ . . . . . . . . . . . . . . . . . . . . . . . . . . (c) ____________________________ . . . . . . . . . . . . . . . . . . . . . . . . . . (d) ____________________________ . . . . . . . . . . . . . . . . . . . . . . . . . . (e) ____________________________ . . . . . . . . . . . . . . . . . . . . . . . . . . (f) Total of lines 3a through 3e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (Note: Items listed in 2 and 3 above must be net amounts supported by schedules showing source, location, expenses, etc.) 4 Net apportionable income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Oklahoma’s portion thereof __________________%, from schedule below . . . . 6 Add or deduct items separately allocated to Oklahoma (enclose schedule) (a) ____________________________________ . . . . . . . . . . . . . . . . . . . . . . . . (b) ____________________________________ . . . . . . . . . . . . . . . . . . . . . . . . (c) ____________________________________ . . . . . . . . . . . . . . . . . . . . . . . . (d) Oklahoma net operating loss deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Oklahoma net income before tax (add lines 5 and 6) . . . . . . . . . . . . . . . . . . . . . 8 Oklahoma accrued tax (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Oklahoma taxable income, line 7 less line 8 (enter on line 1, page 1) . . . . . . . .

$

$

$

$ $

$ $ $

$

$

$

Column ATotal WithinOklahoma

Column BTotal Within and

Without Oklahoma

A divided by BPercent Within

Oklahoma

$

$

$

$

$

$

%

%

%

%%

Schedule B

Form 512 - Page 4

1 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Trade notes and accounts receivable . . . . . (a) Less allowance for bad debts . . . . . . . . 3 Inventories . . . . . . . . . . . . . . . . . . . . . . . . . 4 Gov’t obligations: (a) U.S. and instumentalities . . . . . . . . . . . . (b) State, subdivision, thereof, etc. . . . . . . . 5 Other current assets (enclose schedule) . . 6 Loans to shareholders . . . . . . . . . . . . . . . . . 7 Mortgage and real estate loans . . . . . . . . . . 8 Other investments (enclose schedule) . . . . . 9 Buildings and other fixed depreciable assets (a) Less accumulated depreciation . . . . . . .10 Depletable assets . . . . . . . . . . . . . . . . . . . . (a) Less accumulated depletion . . . . . . . . . 11 Land (net of any amortization) . . . . . . . . . . 12 Intangible assets (amortization only) . . . . . (a) Less accumulated amortization . . . . . . .13 Other assets (enclose schedule) . . . . . . . . .14 Total assets . . . . . . . . . . . . . . . . . . . . . . . . .

15 Accounts payable . . . . . . . . . . . . . . . . . . . . 16 Mtgs-notes-bonds payable in less than1 yr. 17 Other current liabilities (enclose schedule) . 18 Loans from stockholders . . . . . . . . . . . . . . .19 Mtgs-notes-bonds payable in 1 yr. or more .20 Other liabilities (enclose schedule) . . . . . . .21 Capital stock: (a) preferred stock . . . . . . . (b) common stock . . . . . . . 22 Paid-in capital surplus (enclose reconciliation) . . 23 Retained earnings-appropriated (enclose sch.)

24 Retained earnings-unappropriated . . . . . . .25 Adjustments to shareholder’s equity (enclose sch.)

26 Less cost of treasury stock . . . . . . . . . . . . .27 Total liabilities and stockholders equity . . . .

(A) Amount (B) Total (C) Amount (D) TotalBeginning of taxable year

( ) ( )

Schedule OK M-1: Reconciliation of Income per Books with Income per Return 1 Net income per books . . . . . . . . . . . . . . . . . 2 Federal income tax . . . . . . . . . . . . . . . . . . . 3 Excess of capital losses over capital gains . 4 Taxable income not recorded on books this year (enclose schedule) . . . . . . . . . . . . . . . 5 Expenses recorded on books this year not deducted in this return (enclose schedule) . (a) Depreciation $ ___________________ (b) Depletion $ ___________________ (c) Other ___________________________ ________________________________ (d) Total of lines 5a, 5b and 5c . . . . . . . . . . . 6 Total of lines 1 through 4 and 5d. . . . . . . . . .

7 Income recorded on books this year not included in this return (enclose schedule) (a) Tax exempt interest $________________ (b) Other $________________ (c) Total of lines 7a and 7b . . . . . . . . . . . . . . . 8 Deductions in this tax return not charged against book income this year (enclose schedule)

(a) Depreciation $_____________________ (b) Depletion $_____________________ (c) Other ____________________________ (d) Total of lines 8a, 8b and 8c . . . . . . . . . . . . . 9 Total of lines 7c and 8d . . . . . . . . . . . . . . . . . . .10 Net income: line 6 less line 9 . . . . . . . . . . . . . .

1 Balance at beginning of year . . . . . . . . . . . . 2 Net income per books . . . . . . . . . . . . . . . . 3 Other increases (enclose schedule) _____ __________________________________ __________________________________ 4 Total of lines 1, 2 and 3 . . . . . . . . . . . . . . . .

5 Distributions: (a) Cash . . . . . . . . . . . . . . . . . (b) Stock . . . . . . . . . . . . . . . . (c) Property . . . . . . . . . . . . . . 6 Other decreases (enclose sch.)____________ _____________________________________ 7 Total of lines 5 and 6 . . . . . . . . . . . . . . . . . . . . 8 Balance at end of year (line 4 less line 7) . . . .

Balance Sheets

This page must be completed.

Schedule OK M-2: Analysis of Unappropriated Retained Earnings per Books (line 24 above)

End of taxable year

State of OklahomaComputation of Oklahoma Consolidated Taxable Income (Form 512, Line 1)

1. Total............................................................................................................................

2. OklahomaNOLCarryback/Carryforward....................................................................

3. OklahomaTaxableIncome(Loss)beforeOklahomaAccruedIncomeTaxDeduction

4. TotalAllowableOklahomaNon-RefundableCredits................................................... (ThisamountwillequalthetotalfromForm512,Page1,Line7).............................................

A. OklahomaIncomefromLine3above.......................................

B. DivideLine4(above)by6%.....................................................

C. SubtractLineBfromLineA......................................................

D. AccruedOklahomaIncomeTax–DivideLineCby17.6667.... (Donotenterlessthanzero).................................................................

5. Oklahoma Consolidated Taxable Income–SubtractLineDfromLine3............... (EnterhereandontheForm512,Page1,Line1)

Corporate Name Federal Identification Number

Name of Corporations Included in the Consolidated Return(Ifmorespaceisneededattachasupplementalschedule)

Oklahoma Income(BeforeanNOLdeduction

andtaxaccrual)

Computation of Accrued Tax Allowed

Total from Supplemental Schedule

()

FederalIdentification

Number

IndicateSchedule

A or B

FO

RM

512-TI 2008

2008 Oklahoma Corporation Income Tax Forms and Instructions · 2008 2008 2008 2008 2008 2008 2008...

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