518: 2024 Form 518 Venture Capital Company Information Report (2024)
Oklahoma · Oklahoma Tax Commission · Used for tax years 2024
Oklahoma Form 518 is an information report for qualified venture capital companies to report investments made in Oklahoma Business Ventures during the calendar year. It lists each business’s name, identification number and type, along with the date, type and amount of each invest
Who files this form
Each Qualified Venture Capital Company must file Form 518 to report investments made in Oklahoma Business Ventures during the calendar year.
A Qualified Venture Capital Company is an Oklahoma-incorporated C corporation or a registered business partnership with the required partnership certificate. It must have its principal place of business in Oklahoma and be organized to invest debt and equity funds directly in companies in the state. It must also:
- Have capitalization of at least $5 million.
- Have the purpose and objective of investing at least 75% of its capitalization in Oklahoma Business Ventures.
- Invest no more than 10% of its funds in any one company.
When it's due
For investments made during tax year 2024, Form 518 is due April 30 following the investment year.
What you'll need
Have the following information ready:
- The venture capital company's name, identification number, address, phone number, and corporation or partnership status.
- The calendar year ending date.
- For each Oklahoma Business Venture receiving an investment: its name, identification number, and type of business.
- The date, type, and amount of each investment.
Attach additional schedules if necessary.
How to file
- Enter the company's identifying information and calendar year ending date.
- Complete the investment section for investments made during that calendar year. Attach additional schedules if necessary.
- Have an officer, general partner, or member sign and date the report. The declaration covers the return and accompanying statements.
- Mail the report to:
Oklahoma Tax Commission
Oklahoma City, OK 73194
Common mistakes
- Reporting investments from the wrong period: The form directs you to report investments made during the calendar year being reported.
- Leaving out needed schedules: Attach additional schedules if necessary.
- Overlooking the credit restriction: No investor in a Venture Capital Company organized after July 1, 1992, may claim the tax credit.
Questions people ask
What investments does Form 518 report?
It reports the venture capital company's investments in each Oklahoma Business Venture, including the business's name, identification number, business type, and the date, type, and amount of the investment.
What if I need more room to list investments?
Attach additional schedules if necessary.
Who signs Form 518?
The form provides a signature line for an officer, general partner, or member, along with a date line.
Is Form 518-A different from Form 518?
Yes. Qualified Venture Capital Companies must also make Form 518-A available to their investors. It shows the company and investor names, investment date, total amount invested by that investor, and credit currently available. A taxpayer claiming the credit must file Form 518-A with their Oklahoma income tax return.