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Oklahoma Inheritance Tax

There is no Oklahoma inheritance tax, but the state does have an estate tax. Unlike other states in the US, the Oklahoma estate tax, which was previously known as Oklahoma inheritance tax, does not follow federal estate tax laws. Inheritance tax may also be referred to as estate tax in some parts of the US. The inheritance tax is a tax levied on a property after the death of the property owner.
In the US , the inheritance tax is implemented by federal laws and collected by state revenue bodies. In some parts of the country, the state may also levy additional inheritance tax. According to federal estate tax law, estate tax returns in Oklahoma must be filed within nine months of the property owner's death.

In case of the failure to do so, additional interest will be charged on the estate taxes due. The Oklahoma Tax Commission is the body that issues the estate tax forms, which are now also available on the internet. Form 454 is the form for the "Oklahoma Estate Form Packet," Form 454-A is the form for "Affidavit of Surviving Spouse" while Form 454-B is the form for "Affidavit for Lineal Heirs." Those who prefer paper forms to online forms can get the forms from commission office.
Form 454 contains the estate tax return form along with the breakout schedules for each element of the estate.
The list of schedules provided with the packet includes: real estate, stocks and bonds, oil, gas and minerals, personal property, tangible and intangible personal property, life insurance, property not taxable in Oklahoma, property passing to the surviving spouse, debts, and mortgages and taxes that are unpaid till death. The Oklahoma Tax Commission also offers assistance in completing these forms easily. The Oklahoma estate tax return process does not correspond to the federal estate tax return, so the Oklahoma estate tax return cannot be calculated from the Federal schedules.


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Last Updated on : 5th July 2013

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