Oklahoma State Income Tax 2023 - 2024

Oklahomans pay relatively low-income taxes but face high sales tax rates on groceries and other necessities.

In Oklahoma, the individual income tax is a major source of revenue for the state government. It is the state’s largest source of revenue and accounts for 22 percent of all state and local tax revenues. Like federal taxes, Oklahoma State Income Tax is progressive, with rates that start low and rise gradually as income grows. The top Oklahoma State Income Tax rate is 4.75%, which applies to taxable income of more than $7,200 for single filers and $12,200 for married filers.

However, it is a significant burden for many individuals. That’s why it’s important to understand how your taxes are calculated in Oklahoma. Unlike most other states, Oklahoma adheres strictly to the federal income tax system, so these tables are your primary, and in some cases only, a reference point for understanding your taxable income and Oklahoma state tax obligations in 2024.

Oklahoma State Income Tax begins with the federal adjusted gross income (AGI) and adds or subtracts specific deductions and exemptions to determine taxable income for Oklahomans. Oklahoma standard deduction is $6,350 for single filers and $12,700 for married filing jointly. The state also has a personal exemption of $1,000.

How to File Oklahoma State Income Tax?

Oklahoma’s tax code is complex, and it’s important to understand how your income is taxed. This knowledge will help you make decisions that reduce your tax bill. The Oklahoma Tax Commission offers a free online tax filing tool to help you prepare your returns. The tool will automatically fill in your federal tax information. It can also prepare and efile a complete Oklahoma state return.

OKTaxpayer Access Point (OKTAP) is the official online filing system for Oklahoma State Income Tax returns. OKTAP allows you to file your return directly and make electronic payments for free using ACH or a linked bank account. There’s a credit card option with a convenience fee as well. Oklahoma Individual Income Tax Form 511 is the main tax return form you use to file your Oklahoma state income taxes. It’s the equivalent of the federal Form 1040 for the IRS.

Oklahoma State Income Tax Due Dates

Oklahoma State Income Tax Due Dates

For those filing a return, the deadline for paper returns is April 15 and the deadline for electronic filed returns is April 22. It’s recommended that you file your federal and Oklahoma returns at the same time. This will help you avoid any discrepancies between the two returns.

If you are unable to file your return by the deadline, you may request a six-month extension. However, it’s important to note that an extension only extends the time to file your Oklahoma return; it does not extend the time to pay your taxes. Interest will be charged on any unpaid tax balance by the original due date. A delinquent penalty of 5% is also charged.

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