Oklahoma Form OTC 901: Business Personal Property Rendition

Under PART ONE: START HERE, enter the Phone Number, Email Address, Owner/DBA, Mailing Address and City, State, ZIP.

Enter the FEIN and the Type of Business. North American Industry Classification System (NAICS): This is your six digit Federal Business Activity Code.

Mark Yes or No to Are other businesses included in this rendition? If yes, please list them.

Enter the Physical location if different from mailing address. You must file a separate rendition for each location for assessment allocation to the various school districts.

Mark Yes or No to Are you renting or leasing this business location? If Yes, do you own any real estate improvements at this location? Mark Yes or No to Are you still in business at this location?

Enter the Date you started business at this location and the occupied square footage at this location.

Under PART TWO, enter for each Description (Leasehold Improvements, Furniture and Fixtures, Electronic Equipment, Computer Equipment, Machinery and Equipment, Forklifts and Construction, Tooling, Dies and Molds, Other Assets and Trade Tools, Leased to Others) the Beginning Total, Additions to Total, Deletions to Total and Ending Total Original Cost Not Book Value.

Report the original cost, including freight-in and installation costs. Do not deduct investment credit, trade-in allowances or depreciation. If unknown, estimate the original cost. Estimated costs will not be depreciated without supporting documents.

Enter the Column Totals and A) Total Fixed Assets.

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.

Leased to Others: List lessee, address, asset type, original cost, and age of asset. Additional sheets may be attached if necessary.

Leased from Others (See Instructions): List lessor, address, asset type, age of asset, and beginning year of lease.

Under PART THREE: OKLAHOMA TAXABLE INVENTORY, enter the Average Inventory (From Part 6), the Less Freeport Exemption (Form 901-F), the Consignment and/or Floorplan Inventory, B) Net Taxable Inventory and C) Grand Total (add A + B).

Inventories: Total supplies, parts, equipment, etc. stored and/or not currently in use including raw materials, work in progress, finished goods, etc.

Inventories held for others or consigned must be reported separately. Inventory claimed exempt must be accompanied by a Freeport Exemption Form (901-F).

For Taxpayer: Use the space provided on page 1 for the taxpayer estimated fair cash value of all property as defined 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)].

Under PART FOUR: ADDITIONS DURING THE REPORTING YEAR, OR SCHEDULE 3, OR 3-A, enter the Item Number, Item Description, Year Acquired (New or Used) and Total Original Cost, and the TOTAL.

Year Acquired: This is the purchase date. Depreciation cannot be calculated unless the year acquired is reported.

Under PART FIVE: DELETIONS DURING THE REPORTING YEAR, enter the Item Number, Item Description, Year Acquired (New or Used) and Total Original Cost, and the TOTAL.

Under PART SIX: BEGINNING OR MONTHLY INVENTORY, enter the Beginning or Monthly Inventory for January, February, March, April, May, June, July, August, September, October, November, December, and the Average.

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.

Fill in the State of Oklahoma County of, the line after I, the line after I am and the line after of. Under penalties of perjury, do hereby depose and say 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)

Sign: Signature of taxpayer Date. Signature of preparer if other than taxpayer Date.

Fill in the Preparer's address, Preparer's identification number and Preparer's phone number.

If No to Are you still in business at this location?, enter the current location and mark Yes or No to If No, do you still own the business personal property? If No, enter the date disposed/sold. If sold, enter the buyer name and Buyer address. If disposed or sold, stop here. Sign and return.

If the Business is Sold, Closed or Name Changed: To avoid possible incorrect or duplicate assessments, taxpayers should provide information 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 identified and valued to the county assessor with supporting documentation. Supplemental Form 901-IP must be used for any submission.

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.

This rendition must be signed by an owner, partner, officer of the corporation or a bonafide agent.

If received through the mail, it must be postmarked no later than March 15. Postage metered mail overstamped by the Post Office after March 15, will carry the mandatory penalty.

Return to County Assessor. Filing Date: January 1. Delinquent Penalties after March 15.

Failure to file by March 15th will subject the taxpayer to a mandatory penalty of ten (10) percent, or a (20) percent penalty if not filed by April 15 (68 OS Sec. 2836(C).