- 4 -
|
BUSINESS PERSONAL PROPERTY RETURN OF DEPT ID# _____________________________ 2020
Form 1
SECTION VII ALL - BUSINESS ENTITIES COMPLETE
A. If this is the business’ first Maryland personal property return, state whether or not it succeeds an established business
and give name:
_______________________________________________________________________________________________
B. Does the business own any fully depreciated and/or expensed personal property located in Maryland? [ ] Yes [ ] No
If yes, is that property reported on this return? [ ] Yes [ ] No
C. If the business transfers assets in or out of Maryland, or disposes of assets ($200,000 or more or 50% of the total
property) during the prior year, complete Form SD-1. For additional details see Form 1 instructions at
https//dat.maryland.gov
X Taxpayer’s Signature/Date Print Name Phone Number & E-mail Address
X Preparer’s Signature/Date Phone Number & Email Address
Name and Address of Preparer
Mail the completed return to: If you have questions contact the Personal Property Division
DEPARTMENT OF ASSESSMENTS AND TAXATION Telephone: 410-767-1170,
Personal Property Division Toll free within Maryland 888-246-5941
P.O. BOX 17052 Email: SDAT.PersProp@Maryland.gov
Baltimore, Maryland 21297-1052
DEPRECIATION RATE CHART FOR PERSONAL PROPERTY
STANDARD DEPRECIATION RATE Category D: 30% per annum**
Data processing equipment, canned software.
Category A: 10% per annum*
All property not specifically listed below. Category E: 33 11/3% per annum*
Blinds, carpets, drapes, shades. The following applies to
SPECIAL DEPRECIATION RATES equipment rental companies only: rental stereo and radio
(The rates below apply only to the items specifically listed. Use equipment, rental televisions, rental video cassette recorders
Category A for other assets.) and rental DVDs and video tapes.
Category B: 20% per annum* Category F: 50% per annum*
Mainframe computers originally costing $500,000 or more. Pinball machines, rental tuxedos, rental uniforms, video
games.
Category C: 20% per annum*
Autos (unlicensed), bowling alley equipment, brain scanners, Category G: 5% per annum*
carwash equipment, contractor’s heavy equipment (tractors, Boats, ships, vessels, (over 100 feet).
bulldozers), fax machines, hotel, motel, hospital and nursing
home furniture and fixtures (room and lobby), MRI equipment, Long-lived assets
mobile telephones, model home furnishings, music boxes, Property determined by the Department to have an expected
outdoor Christmas decorations, outdoor theatre equipment, life in excess of 10 years at the time of acquisition shall be
photocopy equipment, radio and T.V. transmitting equipment, depreciated at an annual rate as determined by the
rental pagers, rental soda fountain equipment, self-service Department.
laundry equipment, stevedore equipment, theatre seats, trucks
(unlicensed), vending machines, x-ray equipment.
* Subject to a minimum assessment of 25% of the original cost.
** Subject to a minimum assessment of 10% of the original cost.
TPS_PPR Form 1 (Rev: 6/20/19) Page 4 of 4 https://dat.maryland.gov
|