The business Form 901 (Business Personal Property Rendition) is due on March 15th, 2017, and must be filed by all Oklahoma businesses, corporations, partnerships and professionals. Each location of a business is required to file a separate form in order to properly fund school districts.
One of the most common mistakes on the Form 901 is reporting licensed vehicles, automobiles, trucks, etc. These do not need to be listed in inventory, or machinery and equipment.
The information needed to accurately process your business Form 901 includes the following:
List of New Assets – An asset listing showing the asset description, dollar amount, and date of purchase for each new asset purchased by the business during 2016. (If we provide accounting services for your firm or if you’ve already provided a Quickbooks file to us, we will already have this information.).
List of Sold or Disposed Assets – A list of any assets that you either sold, gave away, or threw away.
Prior Year Form 901 – A copy of your prior form 901 (If we prepared your Form 901 for your business previously, we do not need this).
We appreciate the opportunity to assist you in your tax matters. Due to the fast approaching deadline, please provide this information no later than March 1st to ensure the timely filing of your return.
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