According to the most recent data from the Small Business Administration (SBA), Oklahoma is home to 371,640 small businesses, which make up 99.4% of all businesses in the state and employ over 717,000 people. Some of the state’s major industries include construction, retail, professional/scientific/technical services, and real estate.
With small businesses contributing to more than half of the state's employment, getting payroll right is a big deal. Accurate payroll ensures you comply with federal and state laws, helps avoid hefty fines, and keeps your employees happy and motivated.
If you have or are considering starting an Oklahoma small business, one of the important responsibilities you will face is calculating payroll. It’s an essential part of operating your business legally.
This free take-home pay calculator makes it easy to calculate payroll for all your workers, including hourly wage earners and salaried employees. You can get a clear view of an employee’s gross pay, including overtime, commissions, and bonuses. Additionally, you can deduct state and federal taxes, along with any employee-requested allowances, to see a more accurate breakdown of their earnings.