Tax & Accounting Blog

New Oklahoma Intangibles Form 901-IP In Effect

Blog, ONESOURCE Property Tax February 5, 2014

ok intangible

Oklahoma Tax Commission declared that, in order to claim your exemptions for intangible assets, all intangible assets must be reported. This year, the State Tax Commission created a new form, the 901-IP, for taxpayers to use for filing intangibles. Any assets that have not been reported will not qualify for the exemption. Additionally, this year Oklahoma’s Form 901 Instructions clarify computer equipment-custom software as intangible personal property and should be reported on the Form 901-IP.