Form Boe-571-L - Business Property Statement

BOE-571-L (P4)(P5) REV. 22 (05-16) PP-86 (REV. 7-16)

571 - L

OFFICE OF THE ASSESSOR

COUNTY OF LOS ANGELES

2017

BUSINESS PROPERTY STATEMENT

OFFICIAL REQUEST

DO NOT RETURN THESE INSTRUCTIONS

California law prescribes a yearly ad valorem tax based on property as it exists at 12:01 a.m. on January 1 (tax lien date). This form constitutes

an official request that you declare all assessable business property situated in this county which you owned, claimed, possessed, controlled,

or managed on the tax lien date, and that you sign (under penalty of perjury) and return the statement to the Assessor's Office by the date

cited on the face of the form as required by law. Failure to file the statement during the time provided in section 441 of the Revenue and

Taxation Code will compel the Assessor to estimate the value of your property from other information in the Assessor's possession and add

a penalty of 10 percent of the assessed value as required by section 463 of the Code.

If you own taxable personal property in any other county whose aggregate cost is $100,000 or more for any assessment year, you must file

a property statement with the Assessor of that county whether or not you are requested to do so. Any person not otherwise required to file

a statement shall do so upon request of the Assessor regardless of aggregate cost of property. The Assessor of the county will supply you

with a form upon request.

Except for the "DECLARATION BY ASSESSEE" section, you may furnish attachments in lieu of entering the information on this property

statement. However, such attachments must contain all the information requested by the statement and these instructions. The attachments

must be in a format acceptable to the Assessor, and the property statement must contain appropriate references to the attachments and

must be properly signed. In all instances, you must return the original BOE-571-L.

THIS

THIS STATEMENT IS NOT

IF ANY SITUATION EXISTS WHICH

STATEMENT

A PUBLIC DOCUMENT. THE

NECESSITATES A DEVIATION

IS SUBJECT

INFORMATION DECLARED WILL

FROM TOTAL COST PER BOOKS AND RECORDS,

TO AUDIT.

BE HELD SECRET BY THE ASSESSOR.

FULLY EXPLAIN ALL ADJUSTMENTS.

INSTRUCTIONS

(complete the statement as follows)

NAME. If the information has been preprinted by the Assessor, make

LINE 1. SUPPLIES. Report supplies on hand, such as stationery and

necessary corrections. INDIVIDUALS, enter the last name first, then

office supplies, chemicals used to produce a chemical or physical

the first name and middle initial. PARTNERSHIPS must enter at

reaction, janitorial and lavatory supplies, fuel, sandpaper, etc., at

least two names, showing last name, first name and middle initial for

their current replacement costs. Include medical, legal, or accounting

each partner. CORPORATIONS report the full corporate name. If the

supplies held by a person in connection with a profession that is

business operates under a DBA (Doing Business As) or FICTITIOUS

primarily a service activity. Do not include supplies which will become

NAME, enter the DBA (Fictitious) name under which you are operating

a component part of the product you manufacture or sell.

in this county below the name of the sole owner, partnership, or

corporation.

LINE 2. EQUIPMENT. Enter total from Schedule A, line 38 (see

instructions for Schedule A).

LOCATION OF THE PROPERTY. Enter the complete street address.

Forms for additional business or warehouse locations will be furnished

LINE 3. EQUIPMENT OUT ON LEASE, RENT, OR CONDITIONAL

upon request. A listing may be attached to a single property statement

SALE TO OTHERS. Report cost on line 3 and attach schedules

showing the following: equipment actually out on lease or rent,

for your vending equipment leased or rented to others, when any

equipment out on a conditional sale agreement, and equipment

such properties are situated at many locations within this county.

held for lease or rent which you have used or intend to use must be

reported. Equipment held for lease or rent and not otherwise used by

you is exempt and should not be reported.

Equipment out on lease, rent, or conditional sale. (1) Name

and address of party in possession, (2) location of the property,

(3) quantity and description, (4) date of acquisition, (5) your cost,

selling price, and annual rent, (6) lease or identification number,

(7) date and duration of lease, (8) how acquired (purchased,

manufactured, or other — explain), (9) whether a lease or a

conditional sale agreement. If the property is used by a free public

library or a free museum or is used exclusively by a public school,

community college, state college, state university, church, or a

nonprofit college it may be exempt from property taxes, provided the

lessor’s exemption claim is filed by February 15. Obtain BOE -263,

Lessors’ Exemption Claim, from the Assessor. Also include equipment

on your premises held for lease or rent which you have used or

intend to use. Report your cost and your selling price by year of

Part I: GENERAL INFORMATION

acquisition.

[complete items (a) through (g)]

OWNERSHIP OF LAND — (c). Check either the YES or the NO box

LINE 4. BUILDINGS, BUILDING IMPROVEMENTS, AND/OR

to indicate whether you own the land at the LOCATION OF THE

LEASEHOLD IMPROVEMENTS, LAND IMPROVEMENTS, LAND AND

PROPERTY shown on this statement. If YES is checked, verify the

official RECORDED NAME on your DEED. If it agrees with the name

LAND DEVELOPMENT. Enter total from Schedule B, line 63 (see

shown on this statement, check the second YES box. If it does not

instructions for Schedule B).

agree, check the second NO box.

LINE 5. CONSTRUCTION IN PROGRESS. If you have unallocated

LOCATION OF RECORDS — (e and f). Enter the address or

costs of construction in progress for improvements to land,

addresses at which your general ledger and all related accounting

machinery, equipment, furniture, buildings or other improvements, or

records are maintained and available for audit. If you enter your tax

leasehold improvements, attach an itemized listing. Include all tangible

agent or representative’s address, indicate whether all or only part

property, even though not entered on your books and records. Enter

of the records are at that address, and the location of the remainder,

the total on PART II, line 5.

if applicable.

LINE 6. ALTERNATE OR IN-LIEU SCHEDULE. If the Assessor

PROPERTY TRANSFER — (g).

enclosed BOE-571-L, Alternate Schedule A, with this property

statement, complete the alternate schedule as directed and report the

Real Property - For purposes of reporting a change in control, real

total cost on line 6.

property includes land, structures, or fixtures owned or held under

lease from (1) a private owner if the remaining term of the lease

LINES 7-8. OTHER. Describe and report the cost of tangible property

exceeds 35 years, including written renewal options, (2) a public owner

not reported elsewhere on this form.

(any arm or agency of local, state, or federal government) for any term

or (3) mineral rights owned or held on lease for any term, whether in

Part III: DECLARATION OF PROPERTY BELONGING TO OTHERS

production or not.

If property belonging to others, or their business entities, is located

Controlling Interest - When any person or legal entity obtains more

on your premises, report the owner’s name and mailing address. If it is

than 50 percent of the voting stock of a corporation, or more

leased equipment, read your agreement carefully and enter A (Lessor)

than a 50 percent ownership interest in any other type of legal

or B (Lessee), and whether lessor or lessee has the tax obligation. For

entity. The interest obtained includes what is acquired directly or

assessment purposes, the Assessor will consider, but is not bound to,

indirectly by a parent or affiliated entity.

the contractual agreement.

Forms, Filing Requirements & Penalty Information - Contact the

1. LEASED EQUIPMENT. Report the year of acquisition, the year of

Legal Entity Ownership Program Section at 916-274-3410 or refer to

manufacture, description of the leased property, the lease contract

the Board’s website at to obtain form BOE-100-B,

number or other identification number, the total installed cost to

applicable filing requirements, and penalty information.

purchase (including sales tax), and the annual rent; do not include in

Part II: DECLARATION OF PROPERTY BELONGING TO YOU

Schedule A or B (see No. 3, below).

Report book cost (100 percent of actual cost). Include excise, sales,

2. LEASE-PURCHASE OPTION EQUIPMENT. Report here all

and use taxes, freight-in, installation charges, and all other relevant

equipment acquired on lease-purchase option on which the final

costs. Report any additional information which will assist the Assessor

payment remains to be made. Enter the year of acquisition, the year

in arriving at a fair market value. Include finance charges for

of manufacture, description of the leased property, the lease contract

buildings and improvements that are constructed or otherwise

number or other identification number, the total installed cost to

produced for an enterprise’s own use (including assets constructed

purchase (including sales tax), and the annual rent. If final payment

or produced by others) for which deposits or progress payments have

has been made, report full cost in Schedule A or B (see No. 3, below).

been made. Do not include finance charges for purchased equipment.

Form Boe-571-L - Business Property Statement - 2017 Page 3

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