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1. What is Business Tangible Personal Property (BPP)?

Business tangible personal property is any furniture, fixtures, tools, or equipment that is used or available for use in a business. It includes fixed assets, but does not include supplies (such as pens and paper) or real estate. For a more detailed list of applicable assets, see Sections One and Two of the BPP return form.

2. What is the due date for the business tangible personal property tax return?

The due date for the business tangible personal property tax return is March 1.

3. Can I get an extension of time to file the return?

Yes, but your request must come in writing and be faxed or postmarked by March 1. An extension will be granted for no longer than 60 days.

4. What is the tax rate?

The current tax rate is $3.60 per $100 of assessed value (that is, 3.6% of the value). The rate is set each year by the board of supervisors.

5. What if I went out of business?

You must notify our office in writing that you went out of business. If your BPP is on commercial property and is still available for use in business after you went out of business, you are responsible to continue to report it until it is removed or made unavailable for use in the business . Note that BPP is not pro-rated.

6. What if I purchased or recapitalized an item on January 1?

Report the item on the form and use a 90% assessment factor. Include a note on the "Total" line that these assets are included there.

7. What if I am a sole proprietor and I own the equipment personally?

You must still report any tangible equipment that is used or available for use in your business.

8. What if I own no equipment?

You must write "None" on the return and still send it in, along with an explanation of owning no equipment.

• If you lease equipment, then report it in Section Three of the return.
• You are required to file the return no matter how much equipment you have.
• You may be asked to provide a copy of the lease agreement.

9. Do you allow for technological obsolescence?

Yes, for certain computer equipment and peripherals, as described in Section Two of the return.

• Computers and peripherals are assessed using a more progressive schedule of assessment factors, found in Section Two.

Note: "Computerized" equipment is not the same as a computer or peripheral and would usually be reported along with all other equipment (in Section One), not with computer equipment in Section Two.

10. What if I do not depreciate anything?

• You must still file the form and report all equipment used or available for use in the business.
• You must include an itemized list of all equipment; and you may be asked to provide a copy of your federal Schedule C or Form 1120 in lieu of the required copy of your federal depreciation schedule.

11. What do I need to attach to my form?

Attach the following:

• An itemized list of all property reported
• A copy of your most recent federal depreciation schedule (Form 4562), if you filed one (If you did not file a federal depreciation schedule, you may be asked to provide other supporting documents, including federal Schedule C or Form 1120 in lieu of the Form 4562)