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Notice
July 21, 2006

Withholding Rate Changes on Non-Resident Royalties

Recent legislation passed during the 2006 legislative session reduces the amount of tax that should be withheld from non-resident royalty interest payments.

The new rate of 5%, reduced from the previous withholding rate of 6.75%, became effective July 1, 2006. Withholding from non-resident royalty interest payments should be filed on the Oklahoma form OW-9-B.

Questions regarding non-resident royalty interest payments can be emailed to the agency at otcmaster@tax.ok.gov.