Business Personal Property
Taxscribe for Oklahoma Business Owners & CPAs
Modern personal property tax filing for Oklahoma — prepare your return in minutes, import fixed assets, and e-file to participating jurisdictions or email a print-ready PDF to your local assessor.
What is Business Personal Property tax?
Business Personal Property consists of tangible assets including furniture, fixtures, machinery, equipment, computers and inventory used for business purposes.
Who should file Business Personal Property?
All businesses, corporations, partnerships, and professionals are required to file a statement of assets as of January 1st each year. All concerned must file even if an exempt status is claimed.
- Filing deadline
- By Oklahoma statute, the business form must be filed between January 1st and March 15th.
- Late penalty
- If not filed by the deadline of March 15th, the return is delinquent and a penalty of 10% of the assessed valuation is added. After April 15th a penalty of 20% of assessed valuation is added.
When you should file:
By Oklahoma statute, the business form must be filed between January 1st and March 15th.
Exemptions:
The Freeport Exemption allows businesses to exclude the value of qualified inventory from their personal property tax assessments. Businesses must submit the form annually to declare and certify the portion of their inventory that qualifies for the exemption.
Important Notes About Business Personal Property:
- If not filed by the deadline of March 15th, the return is delinquent and a penalty of 10% of the assessed valuation is added. After April 15th a penalty of 20% of assessed valuation is added.
Coverage
How Taxscribe works in Oklahoma
Taxscribe supports Business Personal Property filing across Oklahoma. Where your jurisdiction participates in Taxscribe's e-file program, you can submit directly; elsewhere, generate a print-ready PDF and email or mail it to your local assessor. Contact us to see if your jurisdiction participates.