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Oklahoma Free Printable OW-8-ES-SUP-05 for 2019 Oklahoma Annualized Estimated Tax Worksheet

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Annualized Estimated Tax Worksheet
OW-8-ES-SUP-05

Annualized Estimated Tax Worksheet Part-year and nonresidents see the “Note” on the back of the page. Complete each column after the end of the period shown. 1. Enter your Oklahoma adjusted gross income for each period .......................................................... 1 2. Annualization amounts............................................... 2 Column A 1/1 - 3/31 OW-8-ES-SUP FORM State of Oklahoma Column B 1/1 - 5/31 Column C 1/1 - 8/31 Column D 1/1 - 12/31 4 2.4 1.5 1 4 2.4 1.5 1 3. Annualized Oklahoma adjusted gross income Multiply line 1 by line 2 .............................................. 3 4. 5. Enter your Oklahoma itemized deductions for the period shown in each column. If you do not itemize, enter “0” and skip to line 7......................................... 4 Annualization amounts .............................................. 5 6. Multiply line 4 by line 5 .............................................. 6 7. Enter the full amount of your Oklahoma Standard Deduction ................................................. 7 8. Enter the larger of line 6 or line 7 (Note: If line 6 is less than the Federal Standard Deduction see instructions) ............. 8 9. Multiply $1,000 by the total number of expected exemptions ................................................................ 9 10. Add lines 8 and 9. (Note: If you have out-of-state income see instructions) ................................................... 10 11. Adjustments to Oklahoma Adjusted Gross Income.....11 12. Taxable income. Subtract line 10 and 11 from line 3 ........................... 12 13. Tax from Tax Table .................................................... 13 14. Oklahoma credits (refundable and nonrefundable).............. 14 15. Subtract line 14 from line 13. If zero or less enter “0”...... 15 16. Applicable percentage .............................................. 16 17.5% 35% 52.5% 70% 17. Tax after credits: multiply line 15 by line 16 ............. 17 18. Add amounts in all previous columns of line 24a. ..... 18 19. Annualized income installments. Subtract line 18 from line 17. If zero or less enter “0” ........................ 19 20. Enter 1/4 of line 9c from Form OW-8-ES “Estimated Tax Worksheet” in each column ............. 20 21. Enter the amount from line 23 of the previous column ...................................................................... 21 22. Add lines 20 and 21................................................... 22 23. Subtract line 19 from line 22. If zero or less enter “0” .............................................. 23 24. a b c d Enter the smaller of line 19 or line 22............... 24a Total required payments for the period. Add line 18 and line 24a................................... 24b Estimated tax payments made (line 24d of all previous columns) and tax withholding through the due date for the period................................ 24c Estimated tax payment required by the next due date. Subtract line 24c from line 24b and enter the result (but not less than zero) here and on your payment voucher.......................... 24d 2 0 1 8 2018 Form OW-8-ES-SUP - Page 2 Annualized Estimated Tax Worksheet General Information If you do not receive your income evenly throughout the year (for example, your income from a repair shop you operate is much larger in the summer than it is during the rest of the year), your required estimated tax payment for one or more periods may be less than the amount figured using the regular installment method. To see if you can pay less for any period, complete the Annualized Estimated Tax Worksheet. (Note: You must first complete the regular “Tax Worksheet for Individuals” included on Form OW-8-ES.) This worksheet annualizes your tax at the end of each period based on a reasonable estimate of your income, deductions, and other items relating to events that occurred since the beginning of the tax year through the end of the period. Use the result you figure on line 24d of this form to make your estimated tax payments and complete your payment vouchers. The annualization method for Oklahoma estimated tax purposes is the same as that prescribed in the Internal Revenue Code. The top of the worksheet shows the dates for each payment period. The periods build; meaning each period includes all previous periods. After the end of each payment period, complete the worksheet column for the period from the beginning of the tax year through the end of that payment period to figure how much estimated tax to pay by the payment due date for that period. Line Instructions Line 1: Enter your Oklahoma adjusted gross income for each period. This is your gross income, including your share of partnership(s) or S-corporation(s) income or loss, for the period, minus your adjustments to income for that period. Line 6: Multiply line 4 by line 5 and enter the result on line 6. If your itemized deductions would have been limited based on your annualized Federal adjusted gross income for the period, enter the reduced amount on line 6. To help you determine the reduced amount, you can use Federal Publication 505. Line 8: Enter the larger of line 6 or line 7 unless line 6 is less than the Federal standard deduction, then enter line 7. You do have the option to elect to itemize in each period. If you choose this option, enter “IE” next to the amount. Line 10: Add lines 8 and 9 and enter the result on line 10. If you had out-of-state income during the period you must first prorate your deductions and exemptions before entering the total on line 10. The method of proration will be the same as used on Form 511 and can be found in the instructions of the individual income tax packet for the previous tax year. Enter the prorated amount on line 10. Line 11: Enter the full amount of the Adjustments to Oklahoma Adjusted Gross Income to which you would be entitled based on either your annualized income or expenses incurred during the period. These are the deductions and exclusions to which you are entitled to as adjustments from Oklahoma adjusted gross income to arrive at Oklahoma taxable income. These adjustments include, but are not limited to, military pay exclusion, qualifying disability deduction and qualified adoption expense. For a complete list of these adjustments, see the instructions for Form 511, Schedule 511-C or Form 511NR, Schedule 511NR-C found in the individual income tax packet for the previous tax year. Line 14: Include all the credits (other than withholding credits) you can claim because of events that occurred during that period. Do not annualize any credit. However, when figuring your credits, you must annualize any item of income or deduction used to figure the credit. Also, include any credit(s) you are carrying over from a previous year. Line 24a: To avoid interest for underpayment you may want to enter on this line the amount from line 17, if line 20 is smaller than line 17 and your line 18 is based on an estimate of your current year’s tax (the amount of which is not certain). Line 24c: Include all Oklahoma estimated tax payments actually made and Oklahoma income tax withholding through the payment due date for the period. Your withholding is considered paid in four equal installments, one on the due date of each payment period. To figure the amount to include on line 24c for each period, multiply your total expected withholding for the current year by: 1) 25% (.25) for the first period, 2) 50% (.50) for the second period, 3) 75% (.75) for the third period, or 4) 100% (1.00) for the fourth period. NOTE: The following applies to part-year and nonresident taxpayers that will be filing Form 511NR. Lines 1 through 12 shall be calculated as if all income were earned in Oklahoma. Using the amount from line 12, calculate the tax; this is the base tax and will be prorated for line 13. (If you qualify for the Oklahoma child care/child tax credit, reduce the amount on line 12 by the Oklahoma child care/child tax credit before you calculate line 13; do not enter this credit on line 14.) To calculate line 13, first estimate your income from Oklahoma sources. Divide your income from Oklahoma sources by the amount on line 1. Multiply this percentage by the base tax and enter the result on line 13. This is your “Tax from Tax Table”. Complete the remainder of the form as directed.
Extracted from PDF file 2018-oklahoma-form-ow-8-es-sup.pdf, last modified November 2005

More about the Oklahoma Form OW-8-ES-SUP Individual Income Tax Estimated TY 2018

This is the annual worksheet for self employment taxes.

We last updated the Annualized Estimated Tax Worksheet in February 2019, so this is the latest version of Form OW-8-ES-SUP, fully updated for tax year 2018. You can download or print current or past-year PDFs of Form OW-8-ES-SUP directly from TaxFormFinder. You can print other Oklahoma tax forms here.

Related Oklahoma Individual Income Tax Forms:

TaxFormFinder has an additional 54 Oklahoma income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Oklahoma Form OW-8-ES-SUP.

Form Code Form Name
Form OW-8-ES Estimated Tax Declaration for Individuals
Form OW-8-P Worksheet for Underpayment of Estimated Tax
Form OW-8-ESC Estimated Tax Declaration for Corporations
Form OW-8-P-SUP-I Oklahoma Annualized Income Installment Method for Individuals
Form OW-8-P-SUP-C Oklahoma Annualized Income Installment Methods forCorporations and Trusts

Download all OK tax forms View all 55 Oklahoma Income Tax Forms


Form Sources:

Oklahoma usually releases forms for the current tax year between January and April. We last updated Oklahoma Form OW-8-ES-SUP from the Tax Commission in February 2019.

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Form OW-8-ES-SUP is an Oklahoma Individual Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Oklahoma Form OW-8-ES-SUP

We have a total of six past-year versions of Form OW-8-ES-SUP in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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