Nitrate (NO3-) has an oxidation state of +5 due to the formal charge distribution among its oxygen atoms, despite having four bonds to oxygen. The oxidation state is calculated based on the overall charge of the ion and the electronegativity of the atoms involved, not merely the number of bonds. In the molecular form as nitric acid (HNO3), the nitrogen is bonded to oxygen in various forms, contributing to its +5 state. The confusion arises from the presence of a negative charge on one oxygen, which affects the overall oxidation state of nitrogen. Understanding these concepts clarifies why nitrate is assigned an oxidation state of +5.