Since many of my clients operate their businesses in Oklahoma, I wanted to let you know that you will not be receiving a BAT (Business Activity Tax) Return for 2013. This form was enacted in 2010 and replaced the OK Franchise Tax Return. Most businesses paid $25 on the return which also acted as a credit to the annual $25 business license fee from the OK Secretary of State.
How does this affect you? You will not be seeing the BAT return with your tax returns that I am preparing for you this tax season. You still need to annually file with the Oklahoma Secretary of State to keep your business ‘active’ with the $25 annual fee. The OK Secretary of State should mail you the information each year in how to complete that annual registration. In replacement of the BAT Tax Return is the Oklahoma Franchise Tax Form 200. This form is not available yet from the Oklahoma Tax Commission. It should become available over the next several months and I am assuming will be due on July 1st, like it was in the past. Clients that are affected by this change of law, I will be following up with you this summer and will prepare the return then.
You can read more about the repeal of the BAT Tax Return here: http://www.pwc.com/en_US/us/state-local-tax/newsletters/mysto/assets/pwc-oklahoma-business-activity-tax-repealed.pdf
You can read more about the repeal of the BAT Tax Return here: http://www.pwc.com/en_US/us/state-local-tax/newsletters/mysto/assets/pwc-oklahoma-business-activity-tax-repealed.pdf