Posted by Dave Murray, Ohio CPA on August 21, 2003 at 09:25:53:
Unfortunately OK is not a state whose tax issues I am very familar with. I can say that the members of the LLC will have to file individual tax returns in OK. Most modern tax software will handle this issue easily; you just tell the software that the K-1 is from an OK based company and it does the calculations from there. This is usually a simplified calculation by the software and it can mean you miss some deductions on the state return, but I would only worry about that if the calculated OK tax seems exorbitant compared to the activity. Sorry, I can’t offer much advice beyond that without seeing the actual data. Good luck!