Get the free 2016 Business Personal Property Tax Form - Harrisonburg - City of - harrisonburgva

City of Harrisonburg, Virginia 2016 Return of Business Tangible Personal Property For assets used or available for use as of January 1, 2016, FILE ON OR BEFORE MARCH 31, 2016, Karen I. Rose Please

How to fill out 2016 business personal property

Point 1: To fill out the 2016 business personal property form, gather all relevant information and documents.

1. Collect information about your business assets such as furniture, equipment, inventory, and fixtures.
2. Retrieve your previous year's business personal property statement for reference.

Point 2: Begin by entering your business information on the form.

Provide your business name, address, contact information, and federal employer identification number (FEIN).

Point 3: Complete the section on asset details.

1. List each asset separately, including a description, quantity, and cost or acquisition date.
2. Specify the location of the asset (if applicable).

Point 4: Determine the asset's value as of January 1, 2016.

1. Use the original cost as the basis for valuation, unless the asset has significantly depreciated or its value has changed due to market conditions.
2. Consult with a professional appraiser if you need assistance determining the value of specific assets.

Point 5: Indicate any exemptions or exclusions.

Some jurisdictions provide exemptions or exclusions for certain types of assets or businesses. Determine if your business qualifies for any exemptions and report them accordingly.

Point 6: Calculate the total assessed value of your business personal property.

1. Sum up the assessed values for all assets listed on the form to obtain the total value.
2. Follow the specific instructions provided by your local taxing authority for calculating the assessed value.

Point 7: Review the completed form for accuracy and completeness.

1. Double-check all the information provided on the form, ensuring there are no errors or missing details.
2. Attach any necessary supporting documents as required by your local taxing authority.

Point 8: File the completed 2016 business personal property form within the specified deadline.

1. Be aware of the deadline for submitting the form, as late filings may result in penalties or fees.
2. Submit the form and any required payment to the appropriate taxing authority.

Who needs the 2016 business personal property form?

1. Business owners or entities that own tangible assets used for business purposes, such as furniture, equipment, fixtures, and inventory.
2. The form is typically required by local taxing authorities to assess property taxes on these assets.
3. Specifically, any individual or entity that owned business personal property during the 2016 tax year may be required to fill out this form.

For pdfFiller’s FAQs

What is business personal property tax?

Business personal property tax is a tax imposed on tangible assets used in a business, such as equipment, furniture, and machinery.

Who is required to file business personal property tax?

Business owners and entities that own tangible assets used in a business are required to file business personal property tax.

How to fill out business personal property tax?

To fill out business personal property tax, you need to list all tangible assets used in the business, their value, and other required information on the tax return form.

What is the purpose of business personal property tax?

The purpose of business personal property tax is to generate revenue for the local government based on the value of tangible assets owned by businesses.

What information must be reported on business personal property tax?

Business owners must report the description, value, and location of all tangible assets used in the business on the business personal property tax form.

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