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2017 2017 Confidential Personal Property Returner ORC PPR (ORS 308.290) Assessment of Business: Furniture, Fixtures, Equipment, Floating Property, and Leased or Rented Property ATTENTION: If you did

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The following information is provided for educational purposes only and in no way constitutes legal, tax, or financial advice. For legal, tax, or financial advice specific to your business needs, we encourage you to consult with a licensed attorney and/or CPA in your State. The following information is copyright protected. No part of this lesson may be redistributed, copied, modified or adapted without prior written consent of the author. As we mentioned earlier, there are ongoing requirements for your LLC with the State of Maryland. The first of these requirements is called the Annual Report, and the second requirement is filing your LLC's income taxes. These can be quit complicated and at the end of this Lesson we will recommend that you get help to file these forms. However, we want to give you an overview, so that you have a basic understanding of the requirements. In most states, the purpose of the Annual Report is to keep the State updated with your LLC's contact information. However, Maryland does things a little differently. Their Annual Report is called the Personal Property Tax Return, and it is used to tax personal property owned by the LLC. Personal property includes furniture, machinery, equipment, tools, fixtures, inventory, and anything else that is not real property. Real property refers real estate or land. Another way to think of personal property is anything that is not permanently attached to the ground. In order to file your Personal Property Tax Return, you will first list all of your LLC's personal property and its estimated value. Then you'll need to list your LLC's gross sales, as well as a balance sheet that shows your LLC's assets and liabilities. Once finalized, you will mail your Personal Property Tax Return to the State along with the Filing Fee. The Filing Fee and your Personal Property Tax Return must be filed every year by April 15th. You may also be charged an additional tax depending on the value of your LLC's personal property. If your LLC owes additional tax, the county will mail you a bill shortly after April 15th and tell you when this additional payment is due. Below this video, you will find the Filing Fee amount and the accepted forms of payment. If you don't file your Personal Property Tax Return before the April 15th deadline, the State will eventually dissolve (aka shut down) your LLC. The State takes this requirement seriously, so it's important that you file your Personal Property Tax Return on time every year. The State will mail you a notice each February reminding you to file by the April 15th deadline. However, we recommend that you keep a repeating reminder on your calendar in case you don't receive the State's reminder notice. We know that this information not only sounds confusing, but also sounds like a lot of work. The truth is — it is a lot of work. Determining your personal property depreciable value, commercial inventory, depreciation rates, total gross sales, and creating the balance...

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What is form or cppr?

Form or CPPR stands for Confidential Personal Property Report, it is a form used to report personal property assets.

Who is required to file form or cppr?

All individuals who own taxable personal property are required to file Form or CPPR.

How to fill out form or cppr?

To fill out Form or CPPR, individuals need to list all their personal property assets and their corresponding values.

What is the purpose of form or cppr?

The purpose of Form or CPPR is to report personal property assets for tax assessment purposes.

What information must be reported on form or cppr?

Information such as a description of personal property assets, their value, and other relevant details must be reported on Form or CPPR.