Personal Property

Unlike Real Estate assessments, Personal Property is a self-assessment system. The taxpayer is responsible for reporting all tangible personal property that is used in their trade or business, used for the production of income, or held as an investment that should be or is subject to depreciation for federal income tax purposes.

Filing Requirements and Procedures for Personal Property Assessment 50 IAC 4.2



Per 50 IAC 4.2-2-1, every person, firm, company, partnership, association, corporation fiduciary, or individual owning, holding, possessing, or controlling personal property with a tax situs within the state as of January 1st of any year is required to file a personal property tax return on or before May 15th of that year.

The following are regularly absent from filed business personal property returns:



  • Principal Business Codes (see NAICS Business Activity Codes below)
  • Federal ID Numbers/Social Security Numbers
  • Taxpayer Signatures
  • Incomplete returns may result in fines pursuant to Indiana law IC 6-1.1- 37-7(d).

*All Form 102's and 103's need to be coded with whichever NAICS code best describes the business for which the forms are being submitted. Located on page one of the Business Tangible Personal Property Return (Forms 102 & 103), this is the same six-digit principal business activity code that appears in Schedule K, Line 2(a) of a corporation's federal income tax return.


 

 

 

 

 

Not For Profit


Every Organization  that qualifies for the Not For Profit Exemption is required to file forms 103 and 104 every year.

Organizations which qualify for the Not For Profit Exemption do not qualify for the  Business Personal Property exemption.

Links

DLGF Forms
Locate a tax situs
Look up your NAICS Code.




Personal Property Forms