Form 150-301-014 - Multiple County Property Return Extension Request Form - Page 2
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3Real and personal property return extension information
The deadline for filing real and personal property returns
• Be signed by the taxpayer or authorized representative;
with your county assessor is March 1. In certain cases,
• Contain all the facts justifying the taxpayer’s inability to
the county assessor and the Department of Revenue have
file the return by the due date; and
authority to grant an extension of time to file your return.
• Include the name on the account, business name, account
numbers (or the situs address if no account number is
Extension requests filed with the county assessor
available), and the address where the information should
The county assessor has the authority to grant businesses
be sent.
with accounts located in only one county an extension of
All returns approved for an extension of time to file are
time to file to April 15 for good cause or administrative
subject to audit and correction for errors in:
need.
• Classification;
Extension requests filed with the Department of Revenue
• Trending and depreciation; and
• Omissions.
The department has the authority to grant businesses an
extension to April 15 for good cause or administrative need.
Filing your return
You must meet the following conditions for administrative
If an extension is granted, your return must be sent to the
leave:
appropriate county assessor and be postmarked by April
• You must have reporting requirements in more than one
15.
county; AND
When completing your return:
• Your accounting information cannot be accurately
• Use the Department of Revenue’s depreciation schedules.
reflected by the March 1 filing deadline due to the vol-
ume of information needed to file the return or due to fis-
• Use the factor for the last year shown to compute the
cal year-end requirements.
value of items older than the last year listed on the depre-
• If the property is leased, you must have sole responsibil-
ciation schedules. DO NOT VALUE THESE ITEMS AS
ity for payment of all property taxes.
ZERO.
You must meet the following conditions for good cause:
• Calculate values for all property reported.
• A delay is caused by an unavoidable absence of the per-
• Attach a copy of the extension approval letter.
son who is solely responsible for filing the return.
Denied extensions
• A delay is due to destruction by fire, natural disaster, or
casualty of the taxpayer’s records needed to prepare the
If the Department of Revenue denies an extension request,
return.
your completed property return(s) must be filed with the
county assessor WITHIN 10 DAYS OF THE DENIAL OR
An extension for good cause is only applicable for the cur-
MARCH 1, whichever is later.
rent year’s return.
All extension requests must:
Revoked extensions
• Be in writing and be postmarked no later than March 1;
If the extension is to be revoked, you will be notified.
Common filing problems
Listed below are some common filing problems that may
• You reported only a lump sum rather than the complete
cause your filing extension to be reviewed or possibly
asset listing.
revoked. Please take a moment to double-check these items
Value
on your return before you file.
• You used net book value to value your property rather
Company information
than using the Department of Revenue's depreciation
schedules as required.
• Company name change (this will require a new extension).
• Your assets were improperly valued.
• Extension is not transferable.
• You used an incorrect depreciation factor.
• Extension is valid for only the requesting company. It
does not extend to DBAs or similar business names.
• You valued items older than the last year shown on the
schedule as zero.
Description
Schedule
• Your assets must be adequately described.
• You did not use the Department of Revenue's deprecia-
• Your assets must be improperly categorized.
tion schedules as required.
Missing information
• You used an Internal Revenue Service depreciation
• You reported only additions and deletions rather than the
schedule.
complete asset listing.
150-301-014 (Rev. 12-12)
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Parent category: Financial