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This version of the form is not currently in use and is provided for reference only. Download this version of
Form 586
for the current year.
Form 586 Pass-Through Entity Election Form - Oklahoma
What Is Form 586?
This is a legal form that was released by the Oklahoma Tax Commission - a government authority operating within Oklahoma. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form 586?
A: Form 586 is the Pass-Through Entity Election Form.
Q: What is a pass-through entity?
A: A pass-through entity is a business structure that passes its income and tax liabilities to its owners or shareholders.
Q: Who should use Form 586?
A: Form 586 should be used by pass-through entities in Oklahoma who want to elect to be taxed at the entity level.
Q: What is the purpose of Form 586?
A: The purpose of Form 586 is to make an election for a pass-through entity to be taxed at the entity level in Oklahoma.
Q: Is filing Form 586 mandatory?
A: No, filing Form 586 is optional for pass-through entities in Oklahoma.
Q: When should Form 586 be filed?
A: Form 586 should be filed by the due date of the pass-through entity's tax return, which is typically the 15th day of the 4th month after the end of the tax year.
Form Details:
- Released on May 1, 2019;
- The latest edition provided by the Oklahoma Tax Commission;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form 586 by clicking the link below or browse more documents and templates provided by the Oklahoma Tax Commission.
Download Form 586 Pass-Through Entity Election Form - Oklahoma
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