Fillable Form Otc 901 - Business Personal Property Rendition

Business Personal Property Rendition - Page 2

Part Four: Additions During the Reporting Year, or Schedule 3, or 3A

Year Acquired

Item

Total Original Cost or RCN

Item Description

Number

New

Used

Total

Part Five: Deletions During the Reporting Year

Year Acquired

Item

Total Original Cost or RCN

Item Description

Number

New

Used

Total

Part Six: Monthly Inventory

May

January

February

March

April

June

Average

July

August

November

December

September

October

Form 901 Instructions

Who Must File...

Computer Equipment ...

All business concerns, corporations, partnerships and professionals are required

Items included: computer hardware, monitors, drives and other such hardware compo-

by Oklahoma statutes to file each year a statement of taxable assets as of January

nents, custom software is exempt as an intangible.

1, which are located within this county. This rendition must be signed by an owner,

Machinery and Equipment...

partner, officer of the corporation or a bonafide agent.

Items included: auto repair, agricultural, bakeries, barber and beauty shops, cleaning

and laundry, fuel storage tanks, gas pumps, medical, restaurants, signs, theaters, etc..

Penalties...

All equipment and machinery (forklifts, mobile yard cranes, drilling rigs, tools) is also

Failure to file by March 15th will subject the taxpayer to a mandatory penalty of 10

included. Equipment installed on trucks or trailers after purchase must also be reported.

percent, or a 20 percent penalty if not filed by April 15th (68 O.S. Section 2836C). If

Do not list licensed vehicle such as autos, trucks, semitrailers, boats over 10 h.p., etc.

received through the mail by this office, it must be postmarked no later than March 15th.

Postage metered mail overstamped by the Post Office after March 15th, will carry the

Forklifts and Construction Equipment...

mandatory penalty.

Items include: forklifts, back hoes, compactor, dozers, draglines, earth movers, graders,

mobile cranes, rollers, trenchers, etc.

Taxpayers Filing Form 901 in this County ...

Tooling, Dies and Molds...

Attach a complete detailed listing of all TANGIBLE assets used in business,

Items include: Tooling, dies, punches, molds, patterns, jigs, etc.

grouped by description, year acquired and original cost, and items that have zero

book value, use reporting Asset Listing 904 Schedule 3 or 3A, which is available

Trade Tools and Equipment...

from the county assessor. Report ONLY TANGIBLE ASSETS.

Include items used by carpenters, cement finishers, craftsmen, electricians, mason,

mechanics, repair services, roofers, etc.

North American Industry Classification System (NAICS)...

This is your six digit Federal Business Activity Code.

Leased to Others...

★

List lessee, address, asset type, original cost, and age of asset. Additional sheets may be

Location of Property...

attached if necessary.

You must file a separate rendition for each location for assessment allocation to the

Leased from Others...

★

various school districts.

List lessor, address, asset type, age of asset, and beginning year of lease. Additional

Original Cost Values or RCN...

sheets may be attached if necessary.

Report the total new or used total cost or replacement cost new, including freight-in and

Inventories...

installation costs. Do not deduct investment credit, trade-in allowances or depreciation.

Add your total monthly inventories. Then divide the sum by the number of months you

If unknown, estimate the original cost. Estimated costs will not be depreciated without

have inventory in this county for the year to determine your average inventory. Inventories

supporting documents.

held for others or cosigned must be reported separately. Inventory claimed exempt must

be accompanied by a Freeport Exemption Form (901-F). Companies primarily engaged in

Year Acquired...

selling of lumber and other building material including cement and concrete except for

This is the purchase date. Depreciation cannot be calculated unless the year acquired is

home centers classified under Industry No. 444110 of the North American Industrial

reported.

Classification Systems (NAICS) Manual, shall be assessed at the average inventory value

Leasehold Improvements...

on hand each January, 1 and December, 31 of the same calendar year.

Report cost and detailed description of improvements to property owned by others. Do

If the Business is Sold, Closed or Name Changed...

not report building expansions or repairs, rough plumbing or electrical service, which are

To avoid possible incorrect or duplicate assessment, taxpayers should provide information

included in real estate values. Report all other items such as partitions, new store fronts, etc.

as follows:

Furniture and Fixtures...

• Business Sold: date of sale, name and address of new owner.

Items included: office desks, chairs, credenzas, file cabinets, table booths, shelving

• Business Closed: date of closing or date all personal property was disposed, report

display cases, racks, gondolas, retail fixtures, hotel and motel furnishings, etc.

location and value of any remaining property still owned on the assessing date,

even if in storage.

Electronic Equipment ...

• Business Name Change: date of change and new name.

Items included: calculators, copiers, drafting machines, blueprinting machines, fax

Intangible Business Personal Property...

machines, postage machines, telephone equipment, typewriters, lunch room appliances,

If any intangible property is imbedded in the reported assets the intangible property must be

etc. Also, include electronic and computer controls used with machinery and equipment.

identified and valued to the county assessor with supporting documentation. Supplemental

Form 901-IP must be used for any submission.

Form Otc 901 - Business Personal Property Rendition - 2017 Page 2

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