BUSINESS PERSONAL PROPERTY

Every individual, firm or corporation that owns a business or is leasing equipment in Marshall County must file a Business Personal Property return each year. This is a complete itemized listing of all property that is used to operate the business.

The Business Personal Property tax is assessed on such items as computers, machinery, equipment, furniture, ect., that is used in the operation of the business. Any item not otherwise taxed as real property or a vehicle is business personal property.

The Business Personal Property return must be updated and submitted between October 1 and December 31 of each year. Each item must be listed individually and include a description of the property, the date it was purchased and the cost of the item. Business Supplies should also be listed, however not on an individual basis. Supplies are items that are replenished on a regular basis such as toiletries, pens, paper, cleaning supplies ect. An average monthly amount should be used for the cost of supplies.

If commercial tagged vehicles are owned, it is the special additions or specialized equipment called “add-on” that should be included on the Business Personal Property return. Examples of “add-on” equipment are box type bodies, concrete mixer drums, dumping mechanisms, wrecker rigs, propane and petroleum tanks, refrigeration equipment ect.

Airplanes are also taxed thru Business Personal Property, the information that needs to be provided is the aircraft number, serial number, year, make, model the date purchased and the purchased price.