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BERNALILLO COUNTY OFFICE OF THE ASSESSOR 2021 PERSONAL PROPERTY BUSINESS EQUIPMENT REPORT 7368 NASA (1993 AMENDED)December 7th, 2020 Dear Business Property Owner: Business personal property (equipment)

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How to fill out business personal property equipment

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To fill out business personal property equipment, follow these steps:

02

Gather all relevant information and documents related to your business personal property.

03

Start by entering the basic information about your business, such as the business name, address, and contact information.

04

Identify and list all the equipment you own that is considered business personal property. This may include furniture, machinery, vehicles, computers, etc.

05

Provide detailed descriptions of each item, including make, model, year of manufacture, and any other relevant information.

06

Determine the value of each item. This can be done through appraisal, market research, or consulting with professionals.

07

Calculate the total value of all the equipment and enter it in the appropriate field.

08

Review the information you have entered to ensure accuracy and completeness.

09

Submit the filled-out form according to the instructions provided by the relevant authority or organization.

10

Keep a copy of the filled-out form for your records.

11

Update the form annually or whenever there are significant changes to your business personal property.

Who needs business personal property equipment?

01

Business owners who own equipment or assets that are used for business purposes need to fill out the business personal property equipment form. This includes businesses in various industries such as manufacturing, construction, hospitality, healthcare, technology, and more. It is important for businesses to accurately report their business personal property for taxation, insurance, and regulatory purposes. Additionally, leasing companies or lenders may require businesses to provide information about their equipment as part of financing or leasing agreements.

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What is business personal property equipment?

Business personal property equipment refers to movable items owned by a business that are used to produce income, such as machinery, furniture, tools, and equipment.

Who is required to file business personal property equipment?

Typically, any business owner or entity that owns personal property used in the operation of their business is required to file business personal property equipment.

How to fill out business personal property equipment?

To fill out the business personal property equipment form, gather information about all equipment owned, including descriptions, purchase dates, costs, and location, and complete the required sections of the form accurately.

What is the purpose of business personal property equipment?

The purpose of business personal property equipment is to assess the value of such properties for taxation and to ensure businesses are taxed fairly based on their assets.

What information must be reported on business personal property equipment?

Businesses must report information such as the type of equipment, its value, purchase date, serial numbers, and location.

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