OTC Form OTC988-S Application for Ad Valorem Tax Exemption for Nonprofit Schools and Colleges - Oklahoma

What Is OTC Form OTC988-S?

This is a legal form that was released by the Oklahoma Tax Commission - a government authority operating within Oklahoma. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is OTC Form OTC988-S?
A: OTC Form OTC988-S is an application for Ad Valorem Tax Exemption for Nonprofit Schools and Colleges in Oklahoma.

Q: Who can use OTC Form OTC988-S?
A: Nonprofit schools and colleges in Oklahoma can use OTC Form OTC988-S to apply for Ad Valorem Tax Exemption.

Q: What is Ad Valorem Tax Exemption?
A: Ad Valorem Tax Exemption is a tax exemption granted to certain nonprofit organizations, such as schools and colleges, on their property taxes.

Q: What is the purpose of Ad Valorem Tax Exemption for Nonprofit Schools and Colleges?
A: The purpose of Ad Valorem Tax Exemption for Nonprofit Schools and Colleges is to provide tax relief to these organizations to support their educational mission.

Q: Are all nonprofit schools and colleges eligible for Ad Valorem Tax Exemption?
A: No, only certain nonprofit schools and colleges that meet the eligibility criteria set by the Oklahoma Tax Commission are eligible for Ad Valorem Tax Exemption.

Q: What documents are required to accompany OTC Form OTC988-S?
A: The specific documents required to accompany OTC Form OTC988-S may vary, but typically include proof of nonprofit status, financial statements, and other supporting documentation.

Q: Is there a deadline for submitting OTC Form OTC988-S?
A: Yes, OTC Form OTC988-S must be submitted to the Oklahoma Tax Commission by a specified deadline, usually prior to the tax assessment date.