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equipment plates (Class 4); and transporter plates (Class 5). This

supply the name and address of that business.

property shall be reported at original cost in the year of acquisition

B. List the beginning and ending ﬁscal year periods.

without deduction of depreciation, investment credit or trade-in of

C. If the business had an interest in the established business, (e.g.,

previously owned property. Include all fully depreciated personal

a sole proprietor that chooses to incorporate), the property must

property and property expensed under IRS rules.

be reported at the original cost and original date of acquisition

including all fully depreciated and expensed personal property.

Vehicles registered in Maryland and classiﬁed in one of the

Provide the name of the business.

following are exempt: Passenger cars (Class A); For hire vehicles

D. All fully depreciated and expensed personal property must be

(Class B); Funeral or ambulance vehicles (Class C); Motorcycles

reported on this return.

(Class D); Single unit, Dump, Tow, and Farm Trucks (Class E); Truck

E. If the submitted Balance Sheet or Depreciation Schedule contains

tractors (Class F); Trailers and Semi-trailers (Class G); School

property outside the State of Maryland, reconcile it with this

vehicles (Class H); Passenger buses (Class I and P); Vanpool (Class

return.

J); Farm vehicles (Class K); Historic vehicles (Class L);

F. If the business has disposed of assets or transferred assets in or

Multipurpose vehicles (Class M); Street rods (Class N); Limousine

out of the State during the prior year, complete Form 4C

vehicles (Class Q); Low speed vehicles (Class R). Vehicles

(Disposal and Transfer Reconciliation).

registered outside Maryland may be exempt. Exempt vehicles

include those registered in another taxing jurisdiction and of a

SIGNATURE AND DATE

classiﬁcation described in Title 13, Subtitle 9, Part II of the Maryland

The return must be signed by an ofﬁcer of the corporation or

Transportation Article (Class A-R listed above). Exempt vehicles

principal of other entity. This signature must be an original not a

should be included on form 4B, line 11.

copy. The date should reﬂect the date the return was signed by the

⑦

ofﬁcer or principal and sent to the Department. Please include

LINE ITEM

requested phone number and e-mail address to assist us in

Non-farming livestock. Report book value and market value.

resolving potential discrepancies.

⑧

LINE ITEM

2016

DEPRECIATION RATE CHART FOR

RETURNS

Other tangible personal property. Include other tangible

STANDARD DEPRECIATION RATE

personal property not reported elsewhere on this return. Report

Category A: 10% per annum*

total cost on the return and supply a separate schedule giving a

All property not speciﬁcally listed below.

description, the cost and the date of acquisition of the property

SPECIAL DEPRECIATION RATES (The rates below apply only to the

(e.g. artwork, antiques, linen, china, silverware, etc.).

items speciﬁcally listed. Use Category A for other assets.)

⑨

LINE ITEM

Category B: 20% per annum*

Property owned by others and used or held by the business.

Mainframe computers originally costing $500,000 or more.

All property that is not owned by the business but is held by the

Category C: 20% per annum*

business as lessee, on consignment, or otherwise must be

Autos (unlicensed), bowling alley equipment, brain scanners,

reported. A separate schedule showing the names and addresses

carwash equipment, contractor’s heavy equipment (tractors,

of the owners, lease numbers, description of property, location of

bulldozers), fax machines, hotel, motel, hospital and nursing home

property, installation date and separate cost of assets must be

furniture and ﬁxtures (room and lobby), MRI equipment, mobile

supplied. If costs are not known, supply the terms of the lease

telephones, model home furnishings, music boxes, outdoor

including lease payment and number of months.

Christmas decorations, outdoor theatre equipment, photocopy

⑩

LINE ITEM

equipment, radio and T.V. transmitting equipment, rental pagers,

rental soda fountain equipment, self-service laundry equipment,

Property owned by business and used or held by others. All

stevedore equipment, theatre seats, trucks (unlicensed), vending

property that is owned by the business but is held by others as

machines, x-ray equipment.

consignee, lessee or otherwise must be reported. A separate

Category D: 30% per annum**

schedule showing the names and addresses of lessees, lease

numbers, description of property, installation date and original cost

Data processing equipment, canned software.

by year of acquisition for each location must be supplied. Schedule

Category E: 33

⁄

% per annum*

should group leases by county where the property is located.

Blinds, carpets, drapes, shades. The following applies to equipment

Manufacturer lessors shall report property which has been acquired

rental companies only: rental stereo and radio equipment, rental

other than by purchase at the retail selling price in the year the

televisions, rental video cassette recorders and rental DVDs and

property was manufactured (including property manufactured by a

video tapes.

business for its own use) not at the cost of manufacture. All leased

Category F: 50% per annum*

property must be reported, including manufacturing equipment, and

Pinball machines, rental tuxedos, rental uniforms, video games.

property leased to tax exempt organizations. Property in this

Category G: 5% per annum*

category should be reported on Line Item ⑩ not on Line Item ①.

Boats, ships, vessels, (over 100 feet).

Long-lived assets

SECTION III

Property determined by the Department to have an expected life in

A. Total gross sales must include sales in Maryland and sales by the

excess of 10 years at the time of acquisition shall be depreciated at

Maryland location to out of state purchasers as well as transfers

an annual rate as determined by the Department.

from the Maryland location of the reporting business to out of

* Subject to a minimum assessment of 25% of the original cost.

state locations. If the business has sales in Maryland and does

** Subject to a minimum assessment of 10% of the original cost.

not report any personal property, explain how the business is

conducted without personal property. If a business shares the

property of another business that reports the personal property,

PAGE 5

Form 1 - Annual Report And Personal Property Return - Maryland Department Of Assessment And Taxation - 2016 Page 5

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