Enlarge image | OTC 901-P State of Oklahoma Tax Year 2025 Business Personal Property • Petroleum Related Revised 11-2024 Return to County Assessor - Filing Date: January 1 - Delinquent Penalties After March 15 RE# PP# REPORT ONLY TANGIBLE ASSETS FEIN: ________________________________________________________ Phone Number Type of Business: _______________________________________________ Email Address North American Industry Classification System Owner/DBA Are other businesses included in this rendition? Yes No If yes, please list: ______________________________________________ Mailing Address Physical location if different from mailing address: _____________________________________________________________ Please provide the name and phone number of person to contact for audit purposes: City, State, ZIP PART ONE: START HERE ________________________________________________________________ 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. PART TWO: OKLAHOMA TAXABLE FIXED ASSETS, FROM FORM 904 SCHEDULE 904-3-P Beginning Total Additions to Total Deletions to Total Ending Total Description Original Cost Original Cost Original Cost Original Cost Assessor Use Not Book Value Not Book Value Not Book Value Not Book Value Reconciled Assessed Value Leasehold Improvements Furniture and Fixtures Electronic Equipment Computer Equipment Tools, Machinery and/or Equipment Processing Plants Pipelines Meters Booster/Compressor Station Equipment Valve Station Equipment Other Leased to Others ( ★See Instructions) ➔ Column Totals ➔ Total Total Leased from Others ➔ A) Total Fixed Assets ➔ ( ★See Instructions) PART THREE: OKLAHOMA TAXABLE INVENTORY Inventories: Total supplies, parts, equipment, Average Inventory (From Part 6) ................ Total Value etc. stored and/or not currently in use including petroleum products in storage. Total monthly Less Freeport Exemption (Form 901-F) – Total Assessed inventories from Part 6 on page 2. Penalty Consignment and/or Floorplan Inventory – Total Net B) Net Taxable Inventory = Assessed Date Filed C) Grand Total (add A+ ) B = _____ / _____ / _____ For Taxpayer (*See instructions) Fair Cash Value (Market): $ State of Oklahoma Assessment % School District County of ________________________________________ I, _________________________________________________________________________ under penalties of perjury, do hereby depose and say that I am _____________________________________________ of _______________________________________________________________ company; tthat 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) Don’t Forget Signature of preparer if other than taxpayer Date Preparer’s address to Sign ✍ Signature of taxpayer Date Preparer’s identification number Preparer’s phone number |
Enlarge image | Form 901-P Page 2 PART FOUR: ADDITIONS DURING THE REPORTING YEAR Year Acquired Item Item Description Number New Used Total Original Cost TOTAL PART FIVE: DELETIONS DURING THE REPORTING YEAR Item Year Acquired Number Item Description New Used Total Original Cost PART SIX: MONTHLY INVENTORY TOTAL January February March April May June ▼ Average ▼ July August September October November December Tools, Machinery and Equipment Form 901-P Instructions Fuel in storage, gas in storage, tanks, pumps, signs, miscellaneous tools, power equipment, fork lifts, Who Must File mobile yard cranes, tractors, non-tagged vehicles or trailers, drilling rig equipment and other such All business concerns, corporations, partnerships or individuals are required by Oklahoma items which are not otherwise specifically exempt from ad valorem taxation by payment of gross law to file each year a statement of taxable assets as of January 1, that are located in this production tax. Do not list current licensed and tagged vehicles. county and are not specifically exempt from ad valorem taxation by payment of gross Meters production tax. The rendition must be signed by an owner, partner, or officer of the business Meters, regulators or devices and all related items used to measure oil, natural gas, carbon dioxide, concern or designated agent. or liquid hydrocarbons that are not otherwise specifically exempt from ad valorem taxation by pay- What is Included ment of gross production tax. Taxable assets rendered on this form should only include those assets that are not exempt by pay- Pipelines ment of gross production tax. The Oklahoma Tax Commission has published rule 710:10-8 concern- List the size and length of pipe used in the gathering or transmission of oil, natural gas, carbon diox- ing property eligible for exemption from ad valorem taxation pursuant to the provisions in paragraphs ide, liquid hydrocarbons or other such products. This will include steel, PVC, polyethylene, including (R) and (S) of Section 1001 of Title 68. Both the rule and statutory reference can be found on the any pipe, wrappings, coatings, protection devices, and other costs directly or indirectly related to the OTC website: tax.ok.gov. They may also be obtained from the Ad Valorem Division. asset, which are not otherwise specifically exempt from ad valorem taxation by payment of gross Penalties production tax. Failure to file by March 15 will subject the taxpayer to a mandatory penalty of ten (10) percent, or a Booster/Compressor Stations twenty (20) percent penalty if not filed by April 15 (68 OS Sec. 2836 (C). Any omitted property pursu- Compressor stations including tanks, pipe, valves, measuring or regulatory devices or other related ant to 68 OS Sections 2843 and 2844 shall also be subject to penalty and interest from the time of equipment not used for production purposes at the well site and not specifically exempt from ad discovery not to exceed fifteen (15) years on real property and three (3) years on personal property. valorem taxation by payment of gross production tax. Taxpayers Filing Form 901-P Valve Stations Attach a complete detailed listing of all taxable assets grouped by description, year acquired Valves or groups of valves used in the collection, distribution, gathering or transmission of oil, natural and original cost. Use OTC Schedule 904-3-P for individual assets located in specific school gas, carbon dioxide, or any other liquid hydrocarbons. Include launchers, receivers, meters, tanks, districts. The form is available on the OTC website: tax.ok.gov, from the county assessor or pipe and other related equipment that are not specifically exempt from ad valorem taxation by pay- the Ad Valorem Division. ment of gross production tax. North American Industry Classification Code (NAICS) ★ Leased To/From Others This is the six digit Federal Business Activity Code. If unknown, this code may be obtained from the Leased assets which are leased to/from others and are not specifically used in the production process federal publication of the same name, the Ad Valorem Division, U.S. Department of Census website: and are not exempt from ad valorem tax by payment of gross production tax. List lessee/lessor, ad- www.census.gov/epcd/www/naicstab.htm or search keyword NAICS. dress, asset type, description, total acquisition cost and age at acquisition. Additional pages may be Original Cost Values attached to this form or OTC Form 904-3-P if necessary. Report the original cost, including freight-in and installation costs. Do not deduct investment credit, Inventories trade-in allowances or depreciation. If unknown, estimate the original cost. Estimated costs will not Add the total monthly inventories. Divide the sum by the number of months in business for the year be depreciated without supporting documents. to determine the average inventory. Inventories held for others or consigned must be reported sepa- Year Acquired rately. Inventory which may be exempt must be claimed on the Freeport Exemption Form OTC 901-F Acquisition or purchase date, new or used. Depreciation cannot be correctly calculated without the which should be filed with the OTC Form 901-P. acquisition date. If the Business is Sold, Closed or Name Changed Leasehold Improvements To avoid possible incorrect or duplicate assessments, taxpayers should provide information as follows: Report total cost and a detailed description of improvements to property owned by others. Do not • Business Sold: Date of sale, name and address of new owner. report building expansions or repairs that are otherwise included in the real estate value of the build- • Business Closed: Date of closing and date that all personal property was disposed. Report the ing. Report only those improvements that are “tenant” specific. This may include interior modifications location and total value of any remaining personal property still owned on the assessment date of such as partitions, lighting, electrical, suspended ceilings, etc. January 1. This will also include any assets in storage. Furniture and Fixtures • Business Name Change: Date of name change and new name. Items include office desks, chairs, credenzas, file cabinets, tables, booths, modular cubicles, book Any detailed information that could clarify any of the above events should be included. cases, racks and other such items. School District Office Equipment For distribution of values to the appropriate school districts, use the OTC 904-3-P when reporting Items include calculators, copiers, blueprint machines, plotters, fax machines, shredders, postage individual assets located in different school districts. The OTC Form 901-P is the total asset reporting machines, telephone equipment, lunch room or kitchen appliances and other such items. form for the business entity. Computer Equipment Maps Items include computer hardware, monitors, drives, and other such hardware components. Custom Enclose a detailed map noting the location of all taxable assets. This is especially important in the software is exempt as an intangible. case of various taxable pipeline systems for correct assessment. Processing Plants: Intangible Business Personal Property Any refinery, gas extraction, purification or other such processing facilities, including all equipment If any intangible property is imbedded in the reported assets, the intangible property must be identified used in the processing of oil, natural gas, carbon dioxide or other liquid hydrocarbons which are not and valued to the county assessor with an impairment study or other such professionally prepared otherwise specifically exempt from ad valorem taxation by payment of gross production tax. justification. Supplemental 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 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)]. |