Form 103 Long - Business Tangible Personal Property Assessment Return - 2017 Page 4
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4Filing Basics:
Effective July 1, 2015, IC 6-1.1-3-7.2 was amended to allow an exemption for taxpayers with less than $20,000
cost to be reported within a county. Failure to timely file a personal property tax return with the applicable
assessor declaring the exemption will result in a $25 penalty. For more information, refer to this link:
Taxpayers may request up to a thirty (30) day extension of time to file their return. The written request should
be sent to the Assessor before the filing deadline of May 15, 2017, and should include a reason for the request.
The Assessor may, at their discretion, approve or deny the request in writing.
Personal property must be assessed in each taxing district where property has a tax situs.
Inventory located in the State of Indiana is exempt and is not required to be reported per IC 6-1.1-1-11(b)(3).
It is the responsibility of the taxpayer to obtain forms from the Assessor and file a timely return. The forms
are also available on-line at the Indiana Department of Local Government Finance’s website at
If you hold, possess, or control not-owned personal property on the assessment date, you have a liability for
the taxes imposed for that year unless you establish that the property is to be assessed to the owner. This
is done by completing a Form 103-N, attaching it to the Form 103-Long, and filing it with the Assessor.
A taxpayer declaring the exemption on page one of this form may, as deemed necessary by the applicable
assessor, need to file Form 103-O or 103-N, as applicable, to verify that he is the appropriate taxpayer to claim
the exemption.
NOTE: Failure to properly disclose lease information may result in a double assessment. (IC 6-1.1-2-4(a))
Taxpayers who discover an error was made on their original timely filed personal property tax return have
the right to file an amended return. The amended return must be filed within twelve (12) months of the due
date or the extended due date (if up to a thirty (30) day extension was granted) of their original return.
Frequently Asked Questions:
A.
How do I find out my Taxing District Name and Number?
You will need to contact your County Assessor for assistance since heavily populated areas can have several
taxing districts within a single township.
B.
How do I find out my NAICS number?
This six-digit code number appears on the federal returns filed for businesses. For a complete list of the codes,
go to
C.
Will my local Assessor fill this form out for me?
Indiana’s personal property tax system is a self-assessment system. An Assessor can offer assistance with the
filing; however, an authorized person representing the business must sign the form under penalties of perjury
that it is true and correct so the responsibility of filing an accurate return remains with the taxpayer.
D.
How can I find contact information for the various county offices (Assessor, Auditor, or Treasurer)
throughout the State of Indiana, locate forms or learn more about Indiana’s personal property tax system?
Go to the Indiana Department of Local Government Finance’s website at
Contact information for the Assessor is available at
SECTION VI
INFORMATION OF NOT-OWNED PERSONAL PROPERTY WHICH IS TO BE ASSESSED TO THE OWNER
NOTE: This form is for the reporting of two or less Operating Leases. For all other leases, the Form 103-N (for the lessee)
and the Form 103-O (for the lessor) should be utilized. For more information on the reporting of leased equipment, refer to
50 IAC 4.2-8. Failure to properly disclose lease information may result in a double assessment.
Name and
Location of
Date of Lease
Model Number
Cost,
Quantity
Address of the Owner
Property
(month, day, year)
and Description
if Known
Page 4 of 4
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