Form 514-Pckt Fillable Partnership Information Return Packet (form and instructions)
(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)

:120120012 : 2020268620 1234 1) Income from all bonds notes or other obligations 2) Income from local Oklahoma governmental 3) Income from Oklahoma State and Municipal 4) Income on bonds issued by another state or 514 partnership income tax form 514 PT partnership composite income 514 PT SUP supplemental schedule for 514 SUP supplemental schedule for Accounting Methods and Periods Adjustments by the IRS Agricultural Commodity Processing Allocable Income or Loss Amended Returns An entity electing to be treated as a An entity making distributions of income not An entity that does not have a requirement and make a copy Apportionment Income or Loss Business Code Number Column B Composite Return Information Cost of Complying with Sulfur Credits disregarded entity for federal income tax Do not enclose any other tax reports or correspondence Do not forget to sign your return Engage in secure messaging with OTC File and pay taxes for your sales withholding General Information If you have any questions about your return please Includes Forms 514 514 SUP Income from discharge of indebtedness which was Information at Source Instructions for completing the Form 514 Mail your return and payment to: Must Be Filed of Federal Depletion Oklahoma Credits Oklahoma Depletion in Lieu Order coin operated device decals Paper checks are not your only option for payments Part Five Part Four Part One Part Three Part Two Qualified Refinery Property Register a third party preparer to manage Register new businesses with the OTC Safety Pays OSHA Consultation See page 11 for methods of contacting The Coal Credit and the Credit for Electricity Generated The in state toll free number View OTC returns letters and notices When and Where the Return When and Where the Return Must When complete make copies of all the documents for When computing Oklahoma s additional depletion only When finished double check all calculations Withholding Withholding on Nonresident Members www tax ok gov Your Oklahoma return is generally (405) 521 3160 (5) If less than 3 factors are present the resulting amount (68 OS Sec 2357 205) (918) 581 2399 (continued on page 10) (continued on page 6) (continued on page 8) (continued on page 9) (exclusive of trusts estates or corporations defined by the (loss) shall be allocated in accordance with the situs of the (oil and gas production mining farming or rentals (OTC) PO Box 26800 Oklahoma City Oklahoma (Part Two Column B line 20 or Part Four line 3) (Part Two Column B line 20 or Part Four line 6 as a deduction) (Part Two Column B line 7 or Part Four line 2) (Rule 710:50 19 1) Any partnership required to file an *Exception: Due to electronic banking rules the OTC will not allow direct deposits to or through foreign financial institutions 1065 and K 1s must be enclosed with your Oklahoma 123 Main Street 15 0000/0000 15; then complete Part Five A copy of your Federal Form 2 Part Three Column B line 15 Then complete Part Five 2014 Oklahoma 2014 Oklahoma Partnership Income Tax Return 2014 will be refunded to the taxpayer at 85% of the face 2020268620 2501 North Lincoln Boulevard 42 of the United States Code You MUST provide this 440 South Houston 5th Floor 511CR and any applicable forms or schedules This form 514 PT and 514 PT SUP 514 PT The totals of the nonresidents Oklahoma distributive 514 SUP if there are more than 3 partners Complete as 52 OS Sec 288 2 when computing Oklahoma depletion 577 Credits earned but not used based upon activity occurring 68 OS Sec 2357 100 and Rule 710:50 15 95 68 OS Sec 2357 101 and Rule 710:50 15 101 68 OS Sec 2357 102 and Rule 710:50 15 99 68 OS Sec 2357 104 and Rule 710:50 15 103 68 OS Sec 2357 11 and Rule 710:50 15 76 68 OS Sec 2357 13 68 OS Sec 2357 203 and Rule 710:50 15 97 68 OS Sec 2357 206 and Rule 710:50 15 114 68 OS Sec 2357 206 and Rule 710:50 15 115 68 OS Sec 2357 22 and Rule 710:50 15 81 68 OS Sec 2357 25 and Rule 710:50 15 85 68 OS Sec 2357 26 and Rule 710:50 15 91 68 OS Sec 2357 27 68 OS Sec 2357 30 or 68 OS Sec 2370 1 68 OS Sec 2357 301 2357 302 & 2357 303 and Rule 68 OS Sec 2357 32A 68 OS Sec 2357 32B and Rule 710:50 15 92 68 OS Sec 2357 34 2357 40 68 OS Sec 2357 4 and Rule 710:50 15 74 68 OS Sec 2357 401 and Rule 710:50 15 111 68 OS Sec 2357 402 and Rule 710:50 15 112 68 OS Sec 2357 41 and Rule 710:50 15 108 68 OS Sec 2357 45 and Rule 710:50 15 113 68 OS Sec 2357 46 and Rule 710:50 15 104 68 OS Sec 2357 47 and Rule 710:50 15 107 68 OS Sec 2357 59 and Rule 710:50 15 84 68 OS Sec 2357 60 2357 65 and Rule 710:50 15 86 68 OS Sec 2357 66 and Rule 710:50 15 106 68 OS Sec 2357 67 and Rule 710:50 15 98 68 OS Sec 2357 71 2357 76 and Rule 710:50 15 87 68 OS Sec 2357 81 68 OS Sec 2370 68 OS Sec 54006 and Rule 710:50 15 105 710:50 15 109 73126 0800 on or before the 15th day of the fourth month 74 OS Sec 5085 7 a business of a unitary nature A unitary business is A complete copy of the Federal Partnership Return is A convenience fee will be added to credit and debit a Form 500 B by the due date (including extensions) of its a list of credits available on Form 511CR Enclose Form a partner has more than one type of withholding enter the A pass through entity is not required to withhold income A qualified refinery may make an irrevocable election a ratio of the total within Oklahoma to the total everywhere ABC Partnership able to substantiate their participation in the Oklahoma Access to file pay update interact accordance with the situs of the property Account account Please keep in mind you will not receive notification of the deposit accounting method Partnerships conducting business of a Accounts receivable interest income and interest income act) having Oklahoma source income shall make a return actual notice to taxpayers of changes in any state tax law added back on Column B line 7 to compute Oklahoma distributable added back to compute your Oklahoma taxable income affected credits being denied by the OTC pursuant to 68 Affidavit 68 OS Sec 2385 29 2385 30 and 2385 31 after it was filed Enter on line 10 any refund previously received Agency as a deduction allowable to its owners The agricultural commodity processing facility located within Agricultural commodity processing facility means buildings all forms and documentation required to substantiate all of their income from within Oklahoma This column is also all of their income from within Oklahoma This column will be all on your time anytime! All partnerships must complete Part Five or may enclose All refunds must be directly deposited into a bank account all your payment options allocable items such as depletion) a separate schedule allocated to Oklahoma on the basis of direct expense See allocation for each person is equal to the ratable share Allowable Oil and Gas Depletion along with many more tax types also provide each owner with written notice of the amount amended return place an X in the box located in the upper Amended Returns 3 amount allowed under this section amount in line 10 and enter see schedule in line 11 If amount includes all allowable partnership income losses amount of the credits A pass through entity that does not amount paid with the original return plus any amount paid Amounts Previously Paid an approved extension of time from the Internal Revenue An employer that is eligible for and utilizes the Safety Pays An extension of time for the filing of the return may be and account numbers and business taxes! and Credits and deductions However some of these partnership items and each partner s share of the net income whether distributed and Instructions and leave any unused boxes blank On the sample check shown below the account number is and on Form 514 also relate to LLC and LLP members and on Part One line 3 and line 7 and other partnership income or loss) will be entered here and Property 68 OS Sec 2358 (A) (4) and Sec 2358 (A) and required to file the Refund Direct Deposit Form (Form ARDD 100) before the refund will be issued and tax withheld Copies of Form 500 Bs along with and the name of the obligation from which the interest is and the owner s name and federal identification number and without Oklahoma is oil and gas production mining and without Oklahoma on a direct accounting basis any act required by the OTC falls on a day when the offices Any reference to partnership partners in the instructions ANYPLACE BANK Anyplace OK 00000 apportioned income 68 OS Sec 2358 Apportionment Factor from Apportionment Schedule approved extension must be enclosed with your Oklahoma are accepted on the Oklahoma Tax are electing to be included in the composite return will not are not open for business the filing of the document arithmetical average of the factors present A factor is arrive at Oklahoma distributive income This addition must arrive at Oklahoma income at (405) 521 3160 Attach a separate schedule showing the type of Authority (formerly Turnpike Authority) is exempt authorizing their issuance available payment systems balance due online based on the 3 factor formula The basis of the apportionment basis plus expense of sale (including the partnership s basis reduction in the property due to the section 179 be added back to compute Oklahoma distributable income be allocated in accordance with the situs of such property be allocated in accordance with the situs of the property be apportioned be directly deposited Be Filed continued be free from taxation be made regardless of whether the expense was claimed been withheld on any distribution made to another passthrough below the routing number is 120120012 If the first two digits are not 01 through 12 or 21 through 32 Bonds issued prior to July 2 2001 other than bonus received is considered income subject to depletion both the beginning and ending dates business both within and without Oklahoma is oil and gas by credit card Payments can be made for the current by source and amount If the income is from a mutual by Zero Emission Facilities enclose Form 578 by Zero Emission Facilities may be refundable See the call our Taxpayer Assistance Office at (405) 521 3160 called unitary business) all the factors of which are essential can be claimed on Form 514 Part 1 line 7 A copy of the can be obtained from our website at www tax ok gov Capital Improvement Authority the Oklahoma card transactions For more information regarding this check If you have an address with an APO FPO or DPO you are not considered to have a foreign address; your refund will Click on Online Services to view all Click on the Online Services link and pay your Coal Credit codes Column A line 15 Commission can be reached Commission website at www tax ok gov commodities to marketable products The investment is Common Abbreviations Found in this Packet common questions and online complete Part Four using the Apportionment Formula before complete Part One if claiming the Refundable Coal Credit complete schedule by property must be furnished Complete the direct deposit section on the tax return to receive the refund All refunds with very limited exceptions* completed by all partnerships completed by partnerships deriving all of their income from completed If there are more than 15 partners included in completing Column B line 15 considered present if there is a denominator Each factor is contact the OTC See Page 11 of this packet for contact continued costs of complying with sulfur regulations some or all of Credit Card Payments Accepted Credit for Biomedical Research Contribution Credit for Breeders of Specially Trained Canines Credit for Cancer Research Contribution Credit for Capital Investment Board Tax Credit Credit for Commercial Space Industries Credit for Contributions to a Scholarship Granting Organization Credit for Contributions to an Educational Improvement Credit for Conversion of a Motor Vehicle to Clean Burning Credit for Electricity Generated by Zero Emission Facilities Credit for Employers Providing Child Care Programs Credit for Entities in the Business of Providing Child Care Credit for Financial Institutions Making Loans Under the Credit for Manufacturers of Electric Vehicles Credit for Manufacturers of Small Wind Turbines Credit for Modification Expenses Paid for an Injured Credit for Qualified Biodiesel Facilities Credit for Qualified Ethanol Facilities Credit for Qualified Recycling Facility Credit for Qualified Rehabilitation Expenditures Credit for Railroad Modernization Credit for the Construction of Energy Efficient Homes Credit for Tourism Development or Qualified Media Credit for Wages Paid to an Injured Employee credit on the applicable line The partner s share of the credit to which you are entitled If you are entitled to more credit(s) is shown on Part 5 line 10 Enclose all forms and credits and withholding will be reported here Credits claimed on Form 511CR should be entered on this Credits for Employers in the Aerospace Sector Credits for more detail on the credits available Credits generated but not used on or after January 1 date (including extensions) of the partnership s income tax date Each nonresident partner must enclose a copy of date including extension the tax shown on the amended date the property was sold gross sales price cost or other Deduct the portion of the cost of complying with sulfur deducted Deduct an amount equal to the portion of deduction pursuant to 68 OS Sec 2358 Deductions relating to income which is separately allocated deemed made when the property is placed in service Department of Labor s Safety Pays Consultation Service Department of Labor shall receive a $1 000 exemption different places on Direct Deposit Information Direct Deposit Information 11 direct expense See line 1 Distributable Federal and Oklahoma Income Distributed Income Withholding Tax Annual Return The Distributions made from the partnership distributions made to your nonresident partners that have dividends paid deduction pursuant to 68 OS Sec 2358 Do not include on this line any withholding paid for your nonresident Do not include the portion of the partnership s credit(s) attributable Do not include this exclusion in the Oklahoma distributive documentation required to substantiate any credits DOLLARS Don t forget to sign Download Forms 24/7 Dry Fire Hydrant Credit due the 15th day of the fourth month Each partner having Oklahoma source income sufficient to earned If the income is from a mutual fund which invests elected to be included in this composite return The partner Electronic Payments Accepted Electronic payments are accepted on the OTC website at Emission Facilities Employee Employer Identification Number Enclose a detailed schedule showing the type and amount Enclose a schedule of all municipal interest received enclose documentation with their Oklahoma income tax Enclose Form 506 Enclose Form 520 Enclose Form 526 A Enclose Form 527 A Enclose Form 529 Enclose Form 562 Enclose Form 563 Enclose Form 565 enclose schedule Enclose the Form 1099 MISC Form 500 A or Form 500 B ended on the last day of any month other than December Enter and describe each partner s portion of credits Enclose Enter and describe each partner s share of Oklahoma Enter each partner s allowable depletion Enclose detailed Enter each partner s share of guaranteed payment from Enter each partner s share of Net Distributive Income Enter Net Distributable Income from Page 2 Part Three Enter the names addresses and Social Security Numbers/ Enter the Oklahoma estimated tax payments paid on behalf of Enter the Oklahoma income tax withheld from Oklahoma Enter the portion of Oklahoma withholding that is passing Enter your account number The account number can be up to 17 characters (both numbers and enterprise as a whole and not from its component parts entity or on any distribution of income not subject entity that is treated as an entity that is not Estimated tax payments made on behalf of the nonresident Every partnership including syndicates groups pools Every partnership making payments of salaries wages exact figures as reported on your Federal Form 1065 Schedule except accounts receivable interest income and exclude 15% of their investment in a new or expanded exclusion and the exclusion available for each partner exempt from federal taxation is taxable for expense deduction) depreciation allowed or allowable (not Expenses relative to the income shall be allocated directly expiration of the lease such depletion must be restored A extension is automatic However a copy of the federal extent on their Oklahoma Income Tax Return Facility Exclusion farming or rental This should be completed using the direct federal adjustments automatically extend the time for Federal Employer Federal Employer Identification Number (FEIN): The request Federal Employer Identification Numbers of the partners Federal Income Tax Return they will be allowed to the same federal income tax; organizations granted an exemption file a claim for a direct refund will allocate the credit to one file a federal income tax return file an Oklahoma income tax return Any Oklahoma income filed filed a withholding exemption affidavit (Form OW 15) Oklahoma Filing date: Filing Information section Your nonresident partners who filing options for both income Filing Solution Fill out the routing number The routing number must be nine digits Using the sample check shown Film or Music Project Credit following the close of the tax year following the close of the taxable year For assistance or forms: for federal income tax purposes for more information on apportionable income for Nonresident Composite Filers Only must be for Nonresident Members This form is available from For nonresident partners who have elected to be for projects for nonprofit corporations Local for such nonresident partners will be computed and paid for tax year 2014 for the tax year the service is utilized Employers must be For those nonresident partners who have elected to be for your FEIN is authorized by Section 405 Title for your records foregoing is a beneficiary Form 1065 Form 1065 when applicable Form 500 B Form 1099 MISC Schedule K 1 (if separately Form 514 is used for amended returns also If this is an Form 514 Part 5 Form 514 PT Form OW 11 Registration for Oklahoma Withholding Form OW 15 Nonresident Member Withholding Exemption formula consisting of the arithmetical average of the factors franchise and mixed beverage accounts from Form 577 or Form 578 from investments held to generate working capital shall be from Oklahoma income tax The profit from the from sale of a state or municipal bond other than those from the mutual fund to substantiate the percentage of Fuels or for Investment in Qualified Electric Motor Vehicle fund which invests in state and local government furnish copies of all Internal Revenue Service adjustments Gains or losses from real or tangible personal property shall Gains or losses from sale of intangible personal property Gains or losses from the sale of leases or from the sale of General Filing Information General Filing Information General Filing Information 2 5 Generally unitary income is apportioned to Oklahoma Give Us a Call! governmental obligations shall include bonds or Grant Organization granted but in no case to exceed six months If you have Guaranteed Payments have a question or need further information have elected to be included in the composite return The having Oklahoma source income here (interest income from state obligations or political here instead you should have issued a Form 500 B to your How to Contact the Oklahoma Tax Commission How to Contact the OTC 11 Identification Number (FEIN) If a partner has more than one type of credit enter the total If an amended return is filed before the due date for filing If claiming the Refundable Coal Credit enclose Form If claiming the Refundable Credit for Electricity Generated If depletion is claimed on a lease bonus and no income If federal and Oklahoma distributive net incomes are the If Oklahoma options are exercised the federal depletion If the election was made to expense the cost of qualified If these items are allowed in full or in part on the partner s If you are the Owner If you are the Refinery If you use a foreign financial institution or have a foreign address on your income tax return you will be issued a paper If your business is either wholly Oklahoma or of an allocable In Column B line 20 deduct an amount equal to the in Oklahoma who receive income on bonds issued by any in tax year 2010 may be partially deductible See the in the composite return their share of such withholding in U S Government obligations enclose documentation in your envelope other than those documents and schedules Incentive Leverage Act Credit included in Part Three included in the composite return enter their share of any included in the composite return their share of Oklahoma included in the composite return When filing a composite including downloadable including the section 179 expense deduction) and amount Income (loss) from real and tangible personal property shall Income (loss) shall be allocated in accordance with the income amounting to $750 or more paid or payable during income and their tax are carried from Form 514 PT income derived from each Oklahoma property during income derived from obligations exempt from Oklahoma income Each partner shall report their allowable share income for tax year 2014 Income from discharge of indebtedness deferred under Income from discharge of indebtedness deferred under IRC Income from U S obligations and income separately allocated income if a detailed schedule is furnished accompanied Income separately allocated to Oklahoma should be entered income Such add back is not required if the captive Income Tax Income Tax Forms income tax only if so provided by the statute income tax return showing their respective amount of income income tax should have been withheld on any distribution income tax The exceptions are those obligations income tax The instructions are on the back of Form income tax under 68 OS Sec 2359(c); and nonresident information information It will be used to establish your identity for tax Information on the Federal K 1 For Oklahoma purposes instructions for line 8 on page 10 and Forms 577 and 578 instructions for Part One instructions for Part Two line 1 22 Column B on page 5 insurance companies subject to the Oklahoma Gross Intangible income is allocated to the situs of the partnership interest from investments held to generate working capital interest on bonds notes and other obligations of the U S Interest on U S Government Obligations: If you report investment trust and deducted on your federal return must investment trust and deducted on your federal return must be investment(s) the date placed in service the cost the total IRC Section 108(i)(1) which was added back to compute is (800) 522 8165 is apportioned to Oklahoma on a 2 factor or single factor is received as a result of non producing properties upon is the arithmetical average of three factors consisting issued by the State of Oklahoma the Oklahoma issued for the purpose of providing financing joint ventures or other unincorporated organizations Latest Tax News left section of Form 514 page 1 Enter on line 9 any letters) Include hyphens but omit spaces and special symbols Enter the number from left to right liability companies or trusts) are required to withhold Liability Partnerships (LLPs) Line 1 line 1 instructions on this page All other intangible income Line 10 line 12 will be claimed on the partnership return Part One Line 14 Line 16 Line 2 Line 3 Line 3 Other Credits (continued) Line 4 Line 4b Line 4b continued Line 4c Line 4d and 4e Line 5 Line 5 Line 6 Line 7 line 7 The nonresident s pro rata share of any credits Line 8 Line 9 line Enter in the box the number that corresponds with the Lines 1 15 Column A: Lines 1 15 Column B: Lines 1 22 Column A Lines 1 22 Column B Lines 2 and 3 Lines 8 through 13 List exact figures as reported on the front page of your Federal Loan Authority and the Oklahoma Transportation Log on to our website at www tax ok gov major oil companies are limited to 50% of the net income make a return shall make such return as required by law making State adjustments Also the taxpayer is required to many Form(s) 514 SUP as needed to list all partners may also be made by credit card may appear in may be limited on the partner s Federal Income Tax Return member (partner member shareholder or beneficiary) Member Withholding Exemption Affidavit Withholding is members members who have filed Form OW 15 Nonresident method much more are all available on the Municipal Power Authority the Oklahoma Student must be by direct deposit Partnerships failing to complete the direct deposit section will be contacted must be furnished showing the Oklahoma portion and the must be made under the partnership s name and Federal must complete Form WTP10003 Oklahoma Nonresident nature complete Part Five after you complete Part nonresident partner s Form 500 B must be enclosed nonresident partners Nonresident partners may be included in a composite nonresident partners the nonresident partner s withholding nonresident partnerships Enter each partner s share of not complete Column B lines 1 14 Such partnerships shall not required on any distribution of royalty income on which not used due to 65% limit may not be carried over Lease Note: Do not include the Oklahoma withholding for partners Note: If the interest is exempt the capital gain/loss from Note: If you have any nonresident partners who have not Note: The routing Note: There is a convenience charge for some payment types notes issued by or on behalf of or for the benefit Notice Notice: If this is a fiscal year or period return please enter Number obligations enclose documentation from the mutual fund obligations exempt from Oklahoma tax obligations issued after July 1 2001 other than of costs allocated to such owner The notice must include of each credit and/or withholding for the partner of income on Form 514 for the calendar year or fiscal year of information on our website of Oklahoma educational institutions cities towns of Oklahoma income Such withholding is not reported of property payroll and sales If less than 3 factors are of section 179 expense deduction (if any) passed through of such costs allocated to each owner including the of the exclusion on the designated line of their individual of the face amount of the credits A pass through entity of the property date the property was acquired of the refinery shall not be reduced by the reason of any of the total amount allocated determined on the basis of Office Locations! oil and gas production mining farming or rental within Oklahoma Oklahoma Agricultural Producers Credit Oklahoma business codes are the same as federal business Oklahoma City Oklahoma City OK 73126 0800 Oklahoma depletion on oil and gas well production at the Oklahoma distributable income Place this figure on Page Oklahoma distributable net income is figured by adding Oklahoma Estimated Tax Payments Oklahoma Filing Options Oklahoma Income may not be the amount to be entered Oklahoma income tax Oklahoma income tax at a rate of 5% of the Oklahoma Oklahoma income tax is withheld from oil royalties paid to Oklahoma income tax return may elect to file a composite Oklahoma Investment / New Jobs Credit Oklahoma Local Development and Enterprise Zone Oklahoma return the depreciation deduction claimed on Oklahoma tax assistance forms FAQs and Oklahoma Tax Commission Oklahoma Tax Commission website 24/7 Oklahoma taxable income in tax year 2010 may be partially Oklahoma Withholding OkTAP Information 9 OkTAP: More Than Your on a 2 factor or single factor formula consisting of the on Form 500 B If the nonresident partner elects to be included on or after January 1 2014 will be refunded at 85% on the amended return is used to determine the amount of on the basis of direct expense in Oklahoma to the on the Federal K 1s If completing Part 5 use Form on the partner s Oklahoma Income Tax Return This on the partnership return Any nonresident partner may be on the partnership return or allocated to its owners 68 OS on your federal return it may be excluded from your Oklahoma One on pages 8 10 One Site with Many one whose income is derived from the conduct in more option of the taxpayer may be computed at 22% of gross or counties or by public trusts of which any of the or more of its shareholders partners or members or not or overpayment applied Enclose Federal Amended or Part Four line 3 on page 7 for information or performance of the act shall be considered timely if it is or properly elects out of the requirement to or the Refundable Credit for Electricity Generated by Zero ORDER OF OS Oklahoma Statutes OS Sec 2357 1A 2 OSHA Consultation Service provided by the Oklahoma OTC a Question OTC Form 569 Failure to file Form 569 will result in the OTC Oklahoma Tax Commission Other Credits other to justify division or separate allocation our website at www tax ok gov owner s name and federal identification number You shall Owners of agricultural commodity processing facilities may Paper checks are not your only option for Paper checks are not your only option when Part Five Part Five after you complete Part Four Part Four is to be completed by partnerships conducting Part Four is to be used by Partnerships conducting a business Part One is to be completed for those nonresident partners Part Three Column A is to be used by all partnerships List Part Three Column B is to be used by partnerships deriving Part Two Column A and Part Three Column A are to be Part Two Column A must be completed by all partnerships Part Two Column B and Part Three Column B are to be Part Two Column B is to be used by all partnerships deriving Partner s Share of Income partner s share of such withholding is shown in Part 5 line 12 partners electing to be included in the composite return partners on Form WTP10005 or Form WTP10003 partnership Partnership Return Federal Schedule K partnership will file Form WTP10003 on or before the due Partnerships conducting business of a UNITARY nature do Partnerships consisting of business other than oil and gas Partnerships filing Federal Form 1065 B will file Form 514 Partnerships Please Note: Partnerships that make distributions subject to Oklahoma Pass through entities (partnerships S Corporations limited passed through to partners is reported as Supplemental passing through to them shown on Part Five Pay electronically at www tax ok gov PAY TO THE paying your balance due Payment Options and payments and Oklahoma withholding will be stated in payments Electronic payments per well See the instructions on page 3 performed by the end of the next business day persons other than individuals who are exempt from Place an X in the appropriate box as to whether the refund will be going into a checking or savings Place an X in the box if the underpayment of estimated Place an X in the box(es) on line 8 to report any credit Please Note: A letter requesting correct banking information will be mailed to the address shown on your tax return if PO Box 26800 political subdivision thereof (non Oklahoma) portion of such deferred income included in federal taxable Poultry Litter Credit premiums annuities or other periodical gains profits or Premiums Tax and therefore exempt from Oklahoma present A factor is considered present if there is a denominator present the resulting amount is apportioned to Oklahoma Press 0 to speak to a primarily for the processing or production of agricultural Production Facility production mining farming or rental Complete this column production mining farming or rentals operating in more Property property for which a section 179 expense deduction was provided for in 1 is exempt only if so provided by the purposes A disregarded entity is an eligible purposes only qualify reach the OTC on or before February 28 of the calendar real and tangible personal property shall be allocated in real estate investment trust is subject to the add back for the received and/or overpayment previously applied received by the partnership to substantiate the Oklahoma refer to the Composite Return Information in the General refinery property located in Oklahoma on a previous year s Refundable Credits Refunds or Overpayment Applied Regulations regulations which have been allocated to you Attach the rentals etc ) Rents and interest expenses paid to a captive real estate report such gain on this line Enclose the following: description representative representatives required required for this return Research and Development New Jobs Credit return return An Oklahoma return must be filed by all partnerships return for its nonresident partners The income tax liability return For more information on filing a composite return return If there is no composite return being filed only return Part One line 3 See the instructions for Part return the Form 514 PT Partnership Composite Income return The partnership must provide nonresident partners return to substantiate this withholding return will not be used to compute the amount of underpayment Returns by Limited Liability Companies (LLCs) and Limited Returns by Partnerships Routing Rural Economic Development Loan Act Rural Small Business Capital Credit sale of such bond note or other obligations shall same as the taxable year and method of accounting used same you may complete Part Three Columns A & B line SAMPLE schedule Sec 2357 204 Sec Section(s) Section 108(i)(1) which was added back to compute Oklahoma See page 11 Direct Deposit Information for details Select Online Services to view separate from its single owner separately allocated Oklahoma income with net Oklahoma Service Exemption Service in which to file your federal return an Oklahoma service please visit our website at www tax ok gov or Services shall be limited to 50% of the net income (computed shall not be allowed and will be entered here share of taxable income distributed to each nonresident should be reported to each partner Each partner must show such withholding in Part 5 line 12 shown on Form 500 B and their pro rata share of any withholding shown on Part Five line 10 will be claimed on the partnership situs of such property Overhead expense shall be allocated six months Small Business Capital Credit Small Business Guaranty Fee Credit Specific Line Instructions 5 10 Specific Line Instructions for Determining Distributive Income Specific Line Instructions for Determining Distributive Income Specific Line Instructions for Determining Distributive Income start with Part Two State and Municipal Bond Interest: Partnerships domiciled State of Oklahoma shall add the total of such income to state or political subdivision thereof exempt from federal stated) or other documentation to substantiate any Oklahoma statute authorizing its issuance structures fixtures and improvements used or operated subdivisions oil and gas production mining farming or subject to Oklahoma income tax Such add back is not required if the captive real estate investment such deferred income included in federal taxable income Such interest is allocated to Oklahoma on the basis of such withholding Such withholding will be reported to your nonresident partners sulfur regulations issued by the Environmental Protection Table of Contents Tax Assistance Tax credits transferred or allocated must be reported on tax forms answers to tax Interest from entities such as FNMA & GNMA does not tax return File Form 504 to extend the due date to the full tax supplement Tax Supplement and Form 514 Part One Tax Computation Tax Tips: tax was computed using the annualized income installment tax with regard to any nonresident member who submits a tax withheld from their Oklahoma distributed income tax year and all years prior Estimated income tax payments taxable income in tax year 2010 may be partially deducted taxation but not exempt from taxation by the laws of the Taxpayers who file consents extending the time for making than one credit enter 99 in the box See the following for than one state of a single business enterprise (commonly than one state should compute their Oklahoma income by that are not included in the composite return that does not file a claim for a direct refund will allocate the address shown on your tax return The amount shown on Page 4 Part Five Distributable the composite return complete Form(s) 514 PT SUP the cover Form 501 must be sent to the OTC by the same the credit to one or more of its shareholders partners or the credit(s) See the instructions for Part One Oklahoma the direct deposit fails to process the direct deposit will fail to process A letter requesting correct banking information will be mailed to the Federal K 1s if Oklahoma information is stated separately the federal return for such property must be added back to The following pass through entities are not required to the Form 500 B for each such nonresident partner Do not the Form 500 B to their Oklahoma income tax return as The gain on the sale exchange or other disposition of the nonresident partners who have elected to be included in the nonresident royalty interest income tax has already The Oklahoma Tax the Oklahoma Tax Commission The Oklahoma Tax Commission is not required to give The Oklahoma Tax Commission is not required to give actual notice to taxpayers of changes in any state tax law the original return including any extension the tax shown the ownership interest of the person The taxable income The partner s pro rata share of Oklahoma withholding The return must be filed with the Oklahoma Tax Commission the sale of the bond may also be exempt The gain/loss the same as in Column A except for lines 4b and 4c The tax liability will be paid on Part One of the partnership The taxable year and method of accounting shall be the the taxable year Major oil companies as defined in Title the year to any taxpayer shall make a complete report there are many ways to reach us thereof under oath to the OTC on Forms 500 and 501 to This column is also to be used by partnerships whose this composite return The payments should have been made This packet contains: those provided for in 1 is exempt from Oklahoma Three If your business is of a unitary nature complete through OTC Website through the partnership to those nonresident partners that Title 68 Oklahoma Statutes (OS) to allocate all or a portion of the cost of complying with to be used by all partnerships whose business both within to compute each of the nonresident partner s Oklahoma To compute Oklahoma distributive income all partnerships to each partner for the property and the partnership s tax To file and pay the income tax withheld the partnership to Form 514 Part One lines 1 and 2 See page 8 for the To make the election attach a schedule of a list of the to Oklahoma income tax to substantiate the percentage of income derived from to that income Allowable oil and gas depletion guaranteed to the partners not included in the composite return to the realization of an ultimate gain derived from the total amount claimed on the federal return total amount in line 12 and enter see schedule in line 13 Total apportionable income Refer to top of Part Four instructions total direct expense everywhere Use Page 2 Part Two or trust is subject to the add back for the dividendspaid Tulsa under Section 501(c)(3) of the Internal Revenue Code; under the partnership s name and Federal ID number underpayment If the amended return is filed after the due unitary nature do not complete Column B upon request Use Form 514 PT and if applicable Form 514 PT SUP using the direct account method as shown below using the three factor formula consisting of Sales Payroll v Always copy your return for your records v Check your calculations carefully v Don t forget to sign your tax returns verification for this withholding View FAQs or Email the Visit Us on the Web! Website Offers What s New in the 2014 Oklahoma Tax Packet? When a partnership files a composite return on behalf of its When a partnership has capital gains (or other When filing an amended return enter any amount(s) paid When filing an amended return enter any refund previously When the last date for filing any document or performing When You Are Finished When You Are Finished 10 Whether you need a tax form which are being allocated to your owners and the portion which are too closely connected and necessary to each which is directly allocated should also be entered here who have elected to be included in the composite return will be reported on Line 7 Oklahoma Withholding Wire Transfer Fee Credit with 1099s showing the amount of interest income with Form 514 With OkTAP you can: with the original return plus any amount(s) paid after it was withhold: withholding Withholding is not required on distributions made to withholding is shown on the Form 500 B Enclose a copy of withholding must register with the OTC Register by completing withholding passing through to its partners withholding The partnership must enclose Form 500 A within and without the state of Oklahoma which must within Oklahoma and by partnerships whose business is without the allowance for depletion) from each property written notice of the allocation received from the refinery www tax ok gov www tax ok gov Click on Online Services to view all www tax ok gov/OkTAP year 68 OS Sec 2369(A) and Rule 710:50 3 50(A) year(s) in which the amount was passed through You can pay the balance due on any income tax return You ll find a wealth your account your check your name and Federal Employer Identification Number your records your tax return