Form 3595 - Itemized Listing Of Daily Rental Property - 2009 Page 2
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2Form 3595, Page 2
Instructions for Completing Form 3595,
Itemized Listing of Daily Rental Property
Read the following requirements to determine whether your
D. If the daily rental property consists of multiple
personal property may qualify to be reported on this form.
small items that are part of a matched set, or if it
If you have personal property that qualifies, complete this
is impractical to label the daily rental property, the
schedule and file it with Form 632, (L-4175), Personal
required statement and identifying number may be
Property Statement. Any property reported on this schedule
placed on the daily rental property's container used
must also be reported on Form L-4175.
to store the daily rental property when not in use.
E. No later than February 20, 2009, the owner must
1. To qualify as "daily rental property" BOTH of the
provide the assessor of the city or township where
following conditions must be met:
the daily rental business is located an itemized
listing of the owner's daily rental property as of
A. The property must be exclusively offered on an
Tax Day (using this form) and must authorize that
hourly, daily, weekly or monthly basis for a rental
assessor to provide a copy of such listing to any
term of 6 months or less, pursuant to a written
assessor where the daily rental property may have
rental agreement. In determining whether a rental
been physically located on Tax Day.
term extends beyond 6 months, the rental term
shall be computed by adding all permitted or
3. If the owner of the daily rental property is required to
required extensions of the rental term, as set forth
provide Form L-4175 to any local tax collecting unit
in the written agreement.
other than the local tax collecting unit in which the daily
B. The property must have had an acquisition cost
rental property is assessable, Form L-4175 shall include
NEW of $10,000.00 or less, including freight and
a written statement indicating the jurisdiction in which
sales tax. If you acquire the property “used,” you
its daily rental property is being reported.
must determine the cost new for purposes of
determining whether the property qualifies for daily
4. The "location of the rental business" is the local tax
rental property treatment.
collecting unit in which the daily rental property is kept
Daily rental property does not include tangible personal
when it is not rented to a customer.
property rented in conjunction with a service contract
that extends beyond 90 days.
5. The owner's reporting of daily rental property is subject
to audit by any of the following:
2. Daily rental property shall be assessed to the owner at
A. Any assessment jurisdiction in which the daily rental
the location of the rental business and is not assessable
property is located on Tax Day.
at its location on tax day, if ALL of the following
B. The local tax collecting unit where the rental
conditions are met:
business is located.
A. The location of the rental business must be in this
C. The county equalization department of a county in
state and the daily rental property must be located
which the daily rental property is located on Tax
in this state on Tax Day, December 31, 2008.
Day or where the rental business is located.
B. The property must be permanently labeled with
D. The State Tax Commission.
the designation "Daily Rental Property" and must
be labeled with the name of the owner and either
the business address or telephone number of the
owner.
C. The property must have affixed to it a unique
identifying number assigned by the owner.
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