The Oklahoma Minimum Franchise Tax Form is a tax return required for corporations operating in Oklahoma, specifically for those with a tax liability that falls within a minimum of $10.00 or a maximum of $20,000. This form is designated for delinquent filers only and is not applicable for current reports. Accurate completion and timely submission are essential to avoid penalties and interest.
The Oklahoma Minimum Franchise Tax form, officially known as Form 215, is essential for corporations operating within the state. This form is specifically designed for delinquent filers and should not be used for current reports. Corporations must file this return if their tax liability falls within the minimum threshold of $10 or the maximum limit of $20,000. To determine the appropriate tax liability, businesses will need to complete a worksheet that considers their total assets and business activities in Oklahoma. The form requires accurate reporting of the taxpayer's Federal Employer Identification Number (FEIN), the reporting period, and the due date for submission. It also includes specific instructions for correcting any preprinted information and emphasizes the importance of submitting the return and payment before the due date to avoid penalties and interest. Additionally, the form outlines the calculation of franchise tax based on capital employed in Oklahoma, along with details about registered agent fees and potential penalties for late submissions. Understanding these components is crucial for compliance and maintaining good standing with the Oklahoma Tax Commission.
OKLAHOMA TAX COMMISSION
OKLAHOMA MINIMUM/MAXIMUM FRANCHISE TAX RETURN
FORM 215
Delinquent Filers Only
This version of Form 215 is for delinquent filers only.
Not for use for current reports.
FRX
0600103
OKLAHOMA MINIMUM/MAXIMUM
FRX0001-05-1999-BT
Form 215
Revised 3-2007
A. TAXPAYER FEIN
B. REPORTING PERIOD
C. DUE DATE
FRANCHISE TAX RETURN
1.You qualify to file this return if your tax liability is the minimum of $10.00 or the maximum of $20,000. Use the worksheet to determine your tax liability. If you do not qualify to file this return, call the OTC at
(405) 521-3160. The correct form will be mailed to you.
2.If the preprinted name and address on this form is incorrect check Item E and make corrections on the back of the return.
3.Follow the instructions on the back of this form for the completion of lines 1 through 6 on the detachable report below.
4.Return the detachable return below and schedule of officers with your payment in the enclosed return envelope before the due date to avoid assessment of interest and penalty.
TAX WORKSHEET
The basis for computing your tax is the balance sheet as shown by your books
(A) Everywhere
(B) Oklahoma Only
of account at the close of your most recent income tax accounting year.
(Do not use if all property is in OK)
1.
Enter total company assets
________________________________
_______________________________
2.
Enter business done
3.
Total assets and business done (Line 1 plus Line 2)
4.
Percentage of capital employed in Oklahoma. Select the option
you will use to determine the apportionment of Oklahoma Assets
Option 1: Percent of Oklahoma Assets and business done to total assets and
business done. (Line 3B divided by line 3A) Round to 4 decimal points.
Option 2: Percent of Oklahoma Assets to total net assets
(Line 1B divided by line 1A) Round to 4 decimal points.
5.
Enter total current company liabilities; i.e. accounts payable, short term debt, etc.
_________________________________
6.
Calculate the capital employed in Oklahoma
--Everywhere (Line 1A minus Line 5A multiplied by Line 4)
OR
--Oklahoma only (Line 1B minus Line 5B)
7.
Calculate your franchise tax. The tax rate is $1.25 per $1,000.00, or portion thereof,
of capital employed in Oklahoma. Use Line 6A if company employs capital in states
other than Oklahoma. Use 6B if all company capital is in Oklahoma.
If your capital on Line 6(A) or 6(B) above is less than $8,000, enter $10 in the box for line 1 below. If your capital on Line 6(A) or 6(B) above is more than $16,000,000 enter $20,000 in the box for Line 1 below. If your capital is between $8,000 and $16,000,000 you cannot use this form. Please call (405) 521-3160 to order the correct form.
Special Note: To insure that your report will be properly
1
2
3
4
5
6
7
8
9
0
X
processed, please print all figures within boxes as shown.
• Write only
• Do not fold, staple or paper clip
PLEASE DETACH HERE AND RETURN REPORT BELOW
in white areas
0600103 I.
000
A. Taxpayer FEIN
B. Reporting Period
C. Due Date
G. TAXPAYER FEIN
H. TAX PERIOD
M M D D
Y Y
-- DOLLARS --
CENTS
-OFFICE USE ONLY- F.C.
P.T. D. FOREIGN E. CHANGE
F. ESTIMATED
CORP.
RETURN
1. Tax
=
(Minimum $10 or Maximum $20,000)
+
Registered Agent Fee
(see instructions)
Interest
Name
Penalty
Reinstatement Fee
Address
6. Total Due
City
State
ZIP
(Min. $10)
I declare that the information contained in this document and any attachments is true and correct to the best of my knowledge and belief.
Sign Here
Date
INSTRUCTIONS FOR COMPLETING THE MINIMUM/MAXIMUM FRANCHISE TAX RETURN
GENERAL INSTRUCTIONS
Please write only in the white areas. This return
SPECIFIC LINE INSTRUCTIONS • CONTINUED
WHEN TO FILE
must be legible and suitable for microfilming Please
Line 4 • Penalty
The tax is due on July 1 The report and tax will be
form your entries as shown in the character
It this return is postmarked after the due date, the
delinquent if not paid on or before August 31, and
formation guide with a #2 pencil or black ink pen.
tax is subject to a penalty of 10%. Multiply the
is delinquent on September 1 of each year, or if
amount on Line 1 by 0.10 to determine the
you elected to change your filing period to be the
SPECIFIC ITEM INSTRUCTIONS
penalty. Enter the amount of penalty due.
same as your corporate income tax, the report and
tax, will be delinquent if not paid by the fifteenth
• Item D
Line 5 • Reinstatement Fee
(15) day of the third month following the close of
Place an 'X' in the box if you are a foreign
the corporate income tax year. Penalty and
If the corporation has been suspended, it must be
corporation, not incorporated in Oklahoma.
interest is charged after the delinquency date. A
reinstated. Enter $15 00 on Line 5.
corporation may be suspended if the tax is not
• Item E
paid and/or officer information is not provided. A
Place an `X" in the box if any preprinted information is
Line 6 • Total Due
reinstatement fee of $15.00 is required to return
incorrect. Make corrections in the space provided
Add the amounts of lines 1 through 5 and enter
the corporation to good standing after it has been
below.
the total on line 6.
suspended.
• Item F
Schedule A • Officer Information
Place an X` in the box if you have not completed a
If you file an extension to file your corporate
year end balance sheet You must file an estimated
Enter the reporting period indicated in Item B.
income tax return, a copy of your request for
return.
If any preprinted officer information (Schedule A)
an extension must accompany your estimated
is incorrect, please make the necessary changes
• Item G
franchise tax return.
on Schedule A and mail with your tax return and
If your FEIN is not preprinted, please enter your
FEIN.
payment. Be sure to update the corporate
PAYMENT INFORMATION
• Item H
officers' name, address and social security
number. Failure to provide this information could
To assist us in processing your return accurately
Enter the tax year for which you are filing a return.
result in the corporation being suspended.
and assure proper credit to your account, please
send a separate check with each report submitted.
SPECIFIC LINE INSTRUCTIONS
WHO MUST FILE
Please put your FEIN on your check.
Line 1 • Tax
Every corporation doing business in the state of
WHO TO CONTACT FOR ASSISTANCE
Enter the amount computed from your
Oklahoma must file an annual franchise tax return
worksheet. The amount must be either the
and pay the franchise tax by July 1 of each year.
For franchise tax assistance, call the Oklahoma
minimum $10.00 or maximum $20,000.00 tax.
The report and tax will be delinquent if not paid
Tax Commission at (405) 521-3160.
on or before August 31, or if you elected to
Line 2 • Registered Agent Fee
change your filing period to be the same as your
Mandatory inclusion of Social Security and/or
If you are incorporated in a state other than
corporate income tax, the report and tax will be
Federal Employer's Identification numbers is
Oklahoma, the Secretary of State of Oklahoma
delinquent if not paid by the fifteenth (15) day of
required on forms filed with the Oklahoma Tax
charges an annual registered agent fee of $100.00.
the third month following the close of the
Commission pursuant to Title 68 of the Oklahoma
If this applies to your corporation, enter $100.00 on
corporate income tax year. The report and tax are
Statutes and regulations thereunder, for
line 2.
due annually until the corporation ceases under
identification purposes, and are deemed to be part
the provisions of the Oklahoma General
Line 3 • Interest
of the confidential files and records of the
Corporation Act. If you wish to make an election
Oklahoma Tax Commission.
If this return is postmarked after the due date, the
to change your filing frequency for your next
tax is subject to 1.25% interest per month from the
reporting period, please complete OTC Form
MAILING INSTRUCTIONS
due date until it is paid. Multiply the amount on Line
200F: Request to Change Franchise Tax Filing
I by .0125 for each month the report is late. Enter
Period. You may file this return if your tax
the amount of interest due.
Please mail your completed return, officer
liability is the minimum of $10.00 or the
information and payment to
maximum of $20,000.00. If you do not quality to
file this form call the OTC at (405) 521-3160 for
Oklahoma Tax Commission
the correct form.
Franchise Tax
The Oklahoma Tax Commission is not required to give actual notice of changes in any state tax law.
P.O. Box 26930
Oklahoma City, OK 73126-0930
CHANGES IN PRE-PRINTED INFORMATION:
If you checked Box E.,indicate the changes only below.
Name _______________________________________________________
Address _____________________________________________________
City ________________________________________________________
State ________________________________________________________
ZIP Code ____________________________________________________
0600102 000
FEDERAL EMPLOYER’S
IDENTIFICATION NUMBER
SCHEDULE A
CORPORATE OFFICERS FOR THE REPORTING PERIOD OF ______________ ARE AS FOLLOWS:
(Date)
President
Social Security Number
Home Address (street and number, city, state, ZIP code)
Home Phone (area code and number)
Vice President
Secretary
Treasurer
Note: If additional space is needed, please attach a schedule in the same format.
Mandatory inclusion of social security and/or federal identification numbers are required on forms filed with the Oklahoma Tax Commission pursuant to Title 68 of the Oklahoma Statutes and rules thereunder, for identification purposes, and are deemed part of the confidential files and records of the Oklahoma Tax Commission.
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