Fill Out a Valid Otc 901 Oklahoma Tax Form Create This Otc 901 Oklahoma Tax Now

Fill Out a Valid Otc 901 Oklahoma Tax Form

The OTC 901 form is a crucial document used in Oklahoma for reporting business personal property. It must be filed annually by all business entities, including corporations and partnerships, to declare tangible assets as of January 1. Timely submission is essential, as penalties may apply for late filings.

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The OTC 901 form is an essential document for businesses operating in Oklahoma, as it allows them to report their tangible personal property for tax assessment purposes. This form must be filed annually, with a specific deadline of March 15, to avoid penalties. It requires businesses to disclose various details about their assets, including fixed assets, inventory, and any additions or deletions during the reporting year. Each section of the form is designed to capture specific information, such as the type of business, the physical location of the assets, and the original cost of each asset. Businesses must also provide a detailed listing of their tangible assets, grouped by description and year acquired, ensuring accurate reporting. Failure to submit the form on time can result in significant penalties, highlighting the importance of timely compliance. Understanding the requirements and structure of the OTC 901 form is crucial for business owners to ensure they meet their tax obligations effectively.

Sample - Otc 901 Oklahoma Tax Form

PART ONE: START HERE
PART TWO: OKLAHOMA TAXABLE FIXED ASSETS, FROM FORM 904 SCHEDULE 3 OR 3-A
Leasehold Improvements
Original Cost
State of Oklahoma
County of ________________________________________
I, _________________________________________________________________________ under penalties of perjury, do hereby depose and say that
I am _____________________________________________ of _______________________________________________________________ company;
that as such I am acquainted with the books, accounts,
and affairs of said company and know the accompanying statement to be true, correct, and complete and that all information requested herein has been fully and correctly given to the best of my knowledge. (68 OS
Sec. 2945 provides penalties for false oaths)
Signature of preparer if other than taxpayer Date
Signature of taxpayer Date
Preparer’s address
Preparer’s identication number Preparer’s phone number
✍
Don’t Forget
to Sign
Beginning Total
Original Cost
Not Book Value
A) Total Fixed Assets
➔ ➔
Description
Additions to Total
Original Cost
Not Book Value
Deletions to Total
Original Cost
Not Book Value
Ending Total
Original Cost
Not Book Value
Furniture and Fixtures
Original Cost
Electronic Equipment
Original Cost
Computer Equipment
Original Cost
Machinery and Equipment
Original Cost
Forklifts and Construction
Original Cost
Tooling, Dies and Molds
Original Cost
Other Assets and Trade Tools
Original Cost
Leased from Others
Original Cost ( See Instructions)
Leased to Others
Original Cost ( See Instructions)
Reconciled
Assessed Value
Assessor Use
Total
Net Inventory
Total Assessed
Penalty
Total Net
Date Filed
_____ / _____ / _____
Assessment % School District
Are you renting or leasing this business location? Yes No
If Yes, do you own any real estate
improvements at this location? Yes No
When did you start business at this location? Date _____/_____/_____
What is the occupied square footage at this location? _______________
RE# PP#
Phone Number
Email Address
Owner/DBA
Mailing
Address
City, State, ZIP
FEIN: ________________________________________________________
Type of Business: _______________________________________________
North American Industry
Classication System
Are other businesses included in this rendition? Yes No
If yes, please list: _______________________________________________
Physical location if different from mailing address:
______________________________________________________________
Inventories: Total supplies, parts, equipment,
etc. stored and/or not currently in use including raw
materials, work in progress, nished goods, etc.
B) Net Taxable Inventory =
C) Grand Total (add A + B) =
Average Inventory (From Part 6) ................
Less Freeport Exemption (Form 901-F) –
Consignment and/or Floorplan Inventory –
★
★
Total
PART THREE: OKLAHOMA TAXABLE INVENTORY
OTC 901
Revised 11-2025
Return to County Assessor - Filing Date: January 1 - Delinquent Penalties after March 15
State of Oklahoma
Business Personal Property Rendition
REPORT ONLY TANGIBLE ASSETS
Are you still in business at this location? Yes No
If No, current location? ____________________________________________________________
If No, do you still own the business personal property?
Yes No
If No, date disposed/sold: ______/______/______
If sold, buyer name: __________________________________________________________
Buyer address: ______________________________________________________________
If disposed or sold, stop here. Sign and return.
Tax Year 2026
Column Totals
➔ ➔
For Taxpayer (*See instructions) Fair Cash Value (Market): $
Form 901 Instructions
Who Must File
All business concerns, corporations, partnerships and professionals are required
by Oklahoma statutes to le each year a statement of taxable assets as of January
1, which are located within this county. This rendition must be signed by an owner,
partner, ofcer of the corporation or a bonade agent.
Penalties
Failure to le by March 15th will subject the taxpayer to a mandatory penalty of ten (10)
percent, or a (20) percent penalty if not led by April 15 (68 OS Sec. 2836(C). If received
through the mail by this ofce, it must be postmarked no later than March 15. Postage
metered mail overstamped by the Post Ofce after March 15, will carry the mandatory
penalty.
Taxpayers Filing Form 901 in this County
Attach a complete detailed listing of all TANGIBLE assets used in business,
grouped by description, year acquired and original cost, and items that have zero
book value, use reporting Asset Listing 904 Schedule 3 or 3-A, which is available
from the county assessor. Report ONLY TANGIBLE ASSETS.
North American Industry Classication System (NAICS)
This is your six digit Federal Business Activity Code.
Location of Property
You must le a separate rendition for each location for assessment allocation to the
various school districts.
Original Cost Values
Report the original cost, including freight-in and installation costs. Do not deduct invest-
ment credit, trade-in allowances or depreciation. If unknown, estimate the original cost.
Estimated costs will not be depreciated without supporting documents.
Year Acquired
This is the purchase date. Depreciation cannot be calculated unless the year acquired is
reported.
Leasehold Improvements
Report cost and detailed description of improvements to property owned by others. Do
not report building expansions or repairs, rough plumbing or electrical service, which are
included in real estate values. Report all other items such as partitions, new store fronts, etc.
Furniture and Fixtures
Items include ofce desks, chairs, credenzas, le cabinets, table booths, shelving display
cases, racks, gondolas, retail xtures, hotel and motel furnishings, apartment appliances,
etc.
Electronic Equipment
Items include calculators, copiers, drafting machines, blueprinting machines, fax
machines, postage machines, telephone equipment, typewriters, lunch room appliances,
etc. Also, include electronic and computer controls used with machinery and equipment.
Computer Equipment
Items include computer hardware, monitors, drives and other such hardware components,
custom software is exempt as an intangible.
Machinery and Equipment
Items include auto repair, agricultural, bakeries, barber and beauty shops, cleaning and
laundry, fuel storage tanks, gas pumps, medical, restaurants, signs, theaters, etc. All
equipment and machinery (forklifts, mobile yard cranes, drilling rigs, tools) are also
included. Equipment installed on trucks or trailers after purchase must also be reported.
Do not list licensed vehicle such as autos, trucks, semitrailers, boats over 10 h.p., etc.
Forklifts and Construction Equipment
Items include forklifts, back hoes, compactors, dozers, draglines, earth movers, graders,
mobile cranes, rollers, trenchers, etc.
Tooling, Dies and Molds
Items include tooling, dies, punches, molds, patterns, jigs, etc.
Trade Tools and Equipment
Include items used by carpenters, cement nishers, craftsmen, electricians, masons,
mechanics, repair services, roofers, etc.
Leased to Others
List lessee, address, asset type, original cost, and age of asset. Additional sheets may be
attached if necessary.
Leased from Others
List lessor, address, asset type, age of asset, and beginning year of lease. Additional
sheets may be attached if necessary.
Inventories
Add your total monthly inventories. Then divide the sum by the number of months you
have inventory in this county for the year to determine your average inventory. Inventories
held for others or consigned must be reported separately. Inventory claimed exempt must
be accompanied by a Freeport Exemption Form (901-F). Companies primarily engaged in
selling of lumber and other building material including cement and concrete except for
home centers classied under Industry No. 444110 of the North American Industrial
Classication Systems (NAICS) Manual, shall be assessed at the average inventory value
on hand each January 1, and December 31, of the same calendar year.
If the Business is Sold, Closed or Name Changed
To avoid possible incorrect or duplicate assessments, taxpayers should provide informa-
tion as follows:
• Business Sold: date of sale, name and address of new owner.
• Business Closed: date of closing or date all personal property was disposed, report
location and value of any remaining property still owned on the assessing date,
even if in storage.
• Business Name Change: date of change and new name.
Intangible Business Personal Property
If any intangible property is embedded in the reported assets, the intangible property must
be identied and valued to the county assessor with supporting documentation. Supplemen-
tal Form 901-IP must be used for any submission.
For Taxpayer: Use the space provided on page 1 for the taxpayer estimated fair cash
value of all property as dened by Oklahoma Law as being the price the property would bring
at a fair voluntary sale, as of January 1. See [68 OS Sec. 2802(19)].
PART FOUR: ADDITIONS DURING THE REPORTING YEAR, OR SCHEDULE 3, OR 3-A
Item
Number
Item Description
Year Acquired
New Used Total Original Cost
PART FIVE: DELETIONS DURING THE REPORTING YEAR
Item
Number
Item Description
Year Acquired
New Used Total Original Cost
PART SIX: BEGINNING OR MONTHLY INVENTORY
▲ ▲
Average
January
July
February
August
March
September
April
October
May
November
June
December
★
Form 901
Page 2
★
★
TOTAL
TOTAL
⇓ Otc 901 Oklahoma Tax File

Form Properties

Fact Name Description
Filing Deadline The OTC 901 must be filed by January 1. If not submitted by March 15, penalties apply.
Governing Law The filing requirements are governed by Oklahoma Statutes, specifically 68 O.S. Section 2836C.
Who Must File All business entities, including corporations and partnerships, must file a statement of taxable assets annually.
Asset Reporting Only tangible assets should be reported. A detailed listing is required, grouped by description and original cost.
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