Form 901-P - Business Personal Property Rendition - Petrolium Page 2
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2Instructions to Form 901-P
Who Must File...
All business concerns, corporations, partnerships and profession-
Tools, Machinery and Equipment...
als are required by Oklahoma statutes to file each year a statement
Items included: fuel storage tanks, pumps, signs. All equipment and
of taxable assets as of January 1, which are located within this
machinery (forklifts, mobile yard crams, drilling rigs, tools) is also
county. This rendition must be signed by an owner, partner, officer
included. Equipment installed on trucks or trailers after purchase must
of the corporation or a bonafide agent.
also be reported. Do not list licensed vehicle such as autos, trucks,
Penalties...
semitrailers, boats over 10 h.p., etc.
Failure to file by March 15th will subject the taxpayer to a mandatory
Meters...
penalty of 10 percent, or a 20 percent penalty if not filed by April 15th (68
Any meter, regulators, or device and all appurtenances used to measure
O.S. Section 2836C). If received through the mail by this office, it must
oil, natural gas, carbon dioxide, or liquid hydrocarbons.
be postmarked no later than March 15th. Postage metered mail
Pipeline...
overstamped by the Post Office after March 15th, will carry the mandatory
Any pipe used in the gathering or transmission of oil, natural gas, carbon
penalty.
dioxide, or liquid hydrocarbons, steel, plastic, pvc, etc. and any wrap-
Taxpayers Filing Form 901-P in this County ...
pings, coatings, or devices used in the protection of pipe.
Attach a complete detailed listing of all depreciable assets used in
Boosters/Compressor Station...
business, grouped by description, year acquired and total acquisi-
Any type compressor, including tanks, pipe, valves, measuring or
tion cost. Use reporting schedule 904-3P, which is available from
regulatory devices or other related equipment.
the county assessor.
Valve Stations...
North American Industry Classification System...
Any valve or group of valves used in the collection or distribution or
This is your six digit Federal Business Activity Code.
gathering or transmission of pipe to included all valves, launchers,
Total Original Cost or RCN...
receivers, meters, tanks, pipe, equipment, etc.
Report the total new or used cost, or Replacement Cost New, including all
*Leased from or to Others...
direct and indirect costs associated with the asset.
List equipment by description, date of acquisition and total original cost or
Year Acquired...
RCN cost. If unknown, give length of lease and monthly payments. To
This is the purchase date. Depreciation can not be calculated unless the
avoid duplicate assessment, advise if capitalized and included in other
year acquired is reported.
assets. Furnish name and address of person or firm who is responsible
Leasehold Improvements...
for payment of personal property taxes. Additional itemized sheets may
Report cost and detailed description of improvements to property owned
be attached, if necessary.
by others. Do not report building expansions or repairs, rough plumbing
Inventories...
or electrical service, which are included in real estate values. Report all
Add your total monthly inventories. Then divide the sum by the number of months
other items such as partitions, new store fronts, etc.
you have inventory in this county for the year to determine your average inventory.
Furniture and Fixtures...
Inventories held for others or cosigned must be reported separately. Inventory
Items included: office desks, chairs, credenzas, file cabinets, table
claimed exempt must be accompanied by a Freeport Exemption Form (901-F).
booths, racks, gondolas, etc.
If the Business is Sold, Closed or Name Changed...
Electronic Equipment ...
To avoid possible incorrect or duplicate assessment, taxpayers should
Items included: calculators, copiers, drafting machines, blueprinting
provide information as follows:
machines, fax machines, postage machines, telephone equipment,
• Business Sold: date of sale, name and address of new owner.
typewriters, lunch room appliances, etc. Also, include electronic and
• Business Closed: date of closing or date all personal property was
computer controls used with machinery and equipment.
disposed, report location and value of any remaining property still
Computer Equipment ...
owned on the assessing date, even if in storage.
Items included: computer hardware, software, CRT printers, disk drives,
• Business Name Change: date of change and new name.
etc.
School District...
Plants...
Use a separate form for each school district.
Any refinery, gas, extraction, purification or similar plant including all
compressors, tanks, pipes, valves or other related equipment used in the
Notice: Enclose a detailed county map of all assets.
processing of oil, natural gas, carbon dioxide or liquid hydrocarbons.
Part Four:
Additions During the Reporting Year
Year Acquired
Item
Total Acquisition Cost
Item Description
Number
New
Used
TOTAL
Part Five:
Deletions During the Reporting Year
Year Acquired
Item
Total Acquisition Cost
Item Description
Number
New
Used
TOTAL
Part Six:
Monthly Inventory
January
February
May
June
March
April
Average
July
August
October
November
December
September
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