Fillable Form 3595 - Itemized Listing Of Daily Rental Property

Form 3595, Page 2

Instructions for Completing Form 3595,

Itemized Listing of Daily Rental Property

C. The property must have affixed to it a unique

Read the following requirements to determine whether

identifying number assigned by the owner.

your personal property may qualify to be reported on

this form. If you have personal property that qualifies,

D. If the daily rental property consists of multiple

complete this schedule and file it with Form 632,

small items that are part of a matched set, or if it

(L-4175), Personal Property Statement. Any property

is impractical to label the daily rental property, the

reported on this schedule must also be reported on

required statement and identifying number may be

Form L-4175.

placed on the daily rental property’s container used to

store the daily rental property when not in use.

1. To qualify as “daily rental property” BOTH of the

E. No later than February 20, 2013, the owner must

following conditions must be met:

provide the assessor of the city or township where the

daily rental business is located an itemized listing of

A. The property must be exclusively offered on an

the owner’s daily rental property as of Tax Day (using

hourly, daily, weekly or monthly basis for a rental

this form) and must authorize that assessor to provide

term of 6 months or less, pursuant to a written

a copy of such listing to any assessor where the daily

rental agreement. In determining whether a rental

rental property may have been physically located on

term extends beyond 6 months, the rental term shall

Tax Day.

be computed by adding all permitted or required

extensions of the rental term, as set forth in the written

3. If the owner of the daily rental property is required

agreement.

to provide Form L-4175 to any local tax collecting unit

other than the local tax collecting unit in which the

B. The property must have had an acquisition cost

daily rental property is assessable, Form L-4175 shall

NEW of $10,000.00 or less, including freight and

include a written statement indicating the jurisdiction

sales tax. If you acquire the property “used,” you must

in which its daily rental property is being reported.

determine the cost new for purposes of determining

whether the property qualifies for daily rental property

4. The “location of the rental business” is the local tax

treatment.

collecting unit in which the daily rental property is

kept when it is not rented to a customer.

Daily rental property does not include tangible

personal property rented in conjunction with a service

contract that extends beyond 90 days.

5. The owner’s reporting of daily rental property is

2. Daily rental property shall be assessed to the

subject to audit by any of the following:

owner at the location of the rental business and is not

A. Any assessment jurisdiction in which the daily

assessable at its location on tax day, if ALL of the

rental property is located on Tax Day.

following conditions are met:

B. The local tax collecting unit where the rental

A. The location of the rental business must be in this

business is located.

state and the daily rental property must be located in

C. The county equalization department of a county in

this state on Tax Day, December 31, 2012.

which the daily rental property is located on Tax Day

B. The property must be permanently labeled with

or where the rental business is located.

the designation “Daily Rental Property” and must

D. The State Tax Commission.

be labeled with the name of the owner and either the

business address or telephone number of the owner.

Form 3595 - Itemized Listing Of Daily Rental Property - 2013 Page 2

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