How to Calculate 2016 Oklahoma State Income Tax by Using State Income Tax Table
1. Find your income exemptions
2. Find your pretax deductions, including 401K, flexible account contributions ...
3. Find your gross income
4. Check the 2016 Oklahoma state tax rate and the rules to calculate state income tax
5. Calculate your state income tax step by step
6. If you want to simplify payroll tax calculations, you can download
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Tax rate used in calculating Oklahoma state tax for year 2016
State Abbreviation:
OK
State Tax Withholding State Code:
40
Basis For Withholding:
State or Federal Exemptions
Acceptable Exemption Form:
None
Acceptable Exemption Data:
None
TSP Deferred:
Yes
Special Coding:
None
Additional Information:
If no state income tax certificate has been processed or no valid state exemption code is present, the Federal exemptions will be used in the computation of state taxes.
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Withholding Formula >(Oklahoma Effective 2016)<
Subtract the nontaxable biweekly Thrift Savings Plan contribution from the gross biweekly wages.
Subtract the nontaxable biweekly Federal Health Benefits Plan payment(s) (includes dental and vision insurance program, and flexible spending account - health cae and dependent care deductions) from the amount computed in step 1.
Add the taxable biweekly fringe benefits (taxable life insurance, etc.) to the amount computed in step 2 to obtain the adjusted gross biweekly wages.
Multiply the adjusted gross biweekly wages by 26 to obtain the annual wages.
Determine the exemption allowance by applying the following guideline and subtract this amount from the result of step 4.
Exemption Allowance = $1,000 X Number of Exemptions
If the employee is SINGLE, apply the following tax rates to annual taxable wages to determine the annual tax amount:
Tax Withholding Table
Single
If the Amount of
Taxable Income Is:
The Amount of Oklahoma
Tax Withholding Should Be:
Over:
But Not
Over:
Of Excess
Over:
$ 0
>$6,300
$ 0.00
plus
0.0%
$ 0
$6,300
7,300
$ 0.00
plus
0.5%
>6,300
7,300
8,800
5.00
plus
1.0%
7,300
8,800
10,050
20.00
plus
2.0%
8,800
10,050
11,200
45.00
plus
3.0%
10,050
11,200
13,500
79.50
plus
4.0%
11,200
13,500
and over
171.50
plus
5.0%
13,500
If the employee is MARRIED, apply the following tax rates to annual taxable wages to determine the annual tax amount:
Married
If the Amount of
Taxable Income Is:
The Amount of Oklahoma
Tax Withholding Should Be:
Over:
But Not
Over:
Of Excess
Over:
$ 0
$>12,600
$ 0.00
plus
0.0%
$ 0
12,600
14,600
0.00
plus
0.5%
>12,600
14,600
17,600
10.00
plus
1.0%
14,600
17,600
20,100
40.00
plus
2.0%
17,600
20,100
22,400
90.00
plus
3.0%
20,100
22,400
24,800
159.00
plus
4.0%
22,400
24,800
and over
255.00
plus
5.0%
24,800
Divide the annual Oklahoma tax withholding by 26 and round to the nearest dollar to obtain the biweekly Oklahoma tax withholding.
Add additional amount or percentage elected by the employee to the pay period tax calculated in the above step and ROUND TO THE NEAREST DOLLAR to determine the amount of tax to be withheld for this payroll period.