Form Otc 901-F - Freeport Exemption Declaration
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1
2State of Oklahoma
Tax Year
OTC
Freeport Exemption Declaration
901-F
________________________________ County
Revised 7-2012
Return to County Assessor - Filing Date: January 1 - March 15
Name and Address
School
Firm Name: _______________________________________________________________
District
Property Address: __________________________________________________________
Mailing Address: ___________________________________________________________
This is a statement of goods, wares, and merchandise exempt from taxation under Article X, Section 6A of the Oklahoma Constitution.
Please note that inventory costs must include raw material, work in progress, finished goods, consigned and floor planned merchandise.
Cost of Goods Sold
Beginning inventory in Oklahoma ..................................................................
$
1
Add: Total purchases for Oklahoma inventory ..............................................
$
2
Add: Incoming freight charges related to line 2 ............................................
$
3
Add: Other cost (work in process, labor, and/or other related overhead) .....
$
4
Less: Ending inventory in Oklahoma ............................................................
$
5
6
Cost of goods sold (Sum of lines 1, 2, 3, and 4 - minus line 5) ....................
$
Average Inventory
7
Monthly Inventory (Enter 0 for the months with no Inventory)
February
January
March
April
May
June
September
October
November
December
July
August
8
Total Inventory (Sum of the proceeding months) ...........................................
$
Average Inventory (line 8 divided by number of months in Oklahoma) .........
9
$
Inventory turns per year (line 6 divided by line 9) ..........................................
10
$
Months required for turnover (12 months divided by line 10) ........................
11
$
Note: If line 11 is more than 9.0, the exemption is not allowed.
Purchases for Oklahoma Inventory
12
Total purchases for Oklahoma inventory (from line 2) ...................................
$
13
Less: Inventory purchases from Oklahoma vendors ....................................
$
14
Inventory purchased from out-of-state vendors .............................................
$
Percent of out-of-state purchases (line 14 divided by line 12).......................
15
$
Sales from Oklahoma Inventory
16
Total sales from Oklahoma inventory ............................................................
$
17
Less: Sales within Oklahoma .......................................................................
$
18
Sold and shipped out-of-state........................................................................
$
Percent of out-of-state sales (line 18 divided by line 16) ...............................
19
$
Freeport Exemption
Average inventory (from line 9) .....................................................................
$
20
Less: Amount exempt (lower of line 15 or line 19 x line 20) .........................
$
21
Inventory amount not exempt ........................................................................
$
22
All the above described property is located in _______________________ County, Oklahoma.
I, the undersigned officer of the above named company, corporation, or business concern do hereby declare under oath as provided by Oklahoma
Statutes that the above schedule and statements have been examined by me and to the best of my knowledge and belief is a true and complete return,
made in good faith, for the taxable year stated.
✍
Signature ___________________________________________ Title ________________________________________Date _______________
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