Form Pt-10.1 - Return Of Machinery, Apparatus Or Equipment Of A Petroleum Refinery Directly Used To Manufacture Petroleum Products From Crude Oil - 2014 Page 2
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1
2INSTRUCTIONS TO TAXPAYER
1. PERSONAL PROPERTY OF PETROLEUM REFINERIES SUBJECT TO TAXATION:
a. The machinery, apparatus or equipment of a petroleum refinery that is directly used to manufacture petroleum
products from crude oil in any of the series of petroleum refinery processes commencing with the introduction of
crude oil and ending with refined petroleum products, but shall exclude items of machinery, apparatus or
equipment which are located on the grounds of a petroleum refinery but which are not directly used to refine
crude oil into petroleum products.
b. Taxpayers required to file this return must file a separate return in each municipality in which the taxable personal
property is owned as of the assessment date.
2. DUE DATE FOR FILING RETURN FORMS:
The return form must be filed on or before September 1, 2013 with the assessor for the taxing district in which the
business personal property is located.
3. DEPRECIATION:
a. Except as may be otherwise provided by regulation, net value for depreciable personal property shall be the
depreciated value of such property as reported to the Internal Revenue Service for Federal Income Tax purposes
in accordance with the Internal Revenue Code of 1986 and the rules and regulations promulgated thereunder, in
effect on January 1, 2013 for the last complete reporting year immediately preceding the listing date, and adjusted
to such listing date for additional depreciation, additions and disposals.
b. If requested by the assessor, taxpayer must furnish Depreciation Schedule filed with the Federal Income Tax
return for the calendar year 2012 or for the latest fiscal year ended prior to January 1, 2013.
4. ADJUSTMENTS:
Any adjustments entered on line 4 of Schedule A must be fully explained in writing and attached to the return form.
5. PROPERTY FULLY DEPRECIATED:
Include in this item not less than 20 percent of original cost of machinery, apparatus or equipment used to
manufacture petroleum products which had been fully depreciated but which, as of the assessment date, remained in
use or was held for use.
6. GROUP AND COMPOSITE ACCOUNTS:
A taxpayer holding items of like property in more than one taxing district may apply to the Director of the Division of
Taxation for permission to report net value on the basis of average valuations of such property in group or composite
accounts. He must show that it is impractical to report separately with respect to each item.
7. PERSONAL LIABILITY OF OWNERS OF TANGIBLE PERSONAL PROPERTY USED IN BUSINESS FOR TAX:
The person owning tangible personal property used in business is personally liable for the tax due thereon
[N.J.S.A. 54:4-2.47(b)].
8. TAXABLE SITUS:
Tangible personal property used in business and subject to taxation is assessable and taxable in the taxing district
where such property is "found" [N.J.S.A. 54:4-2.47(b)]. As a general rule, property is "found" in the taxing district
where it has acquired a permanent location. This is a question of fact which must be resolved by consideration of all
the circumstances in the particular case.
9. PENALTIES:
If any taxpayer shall refuse or neglect to file a return as required by section 54:4-2.48 of the Revised Statutes, the
assessor shall value the taxable personal property of such taxpayer at such amount as he may, from any information
in his possession or available to him, reasonably determine to be the taxable value at which such property is
assessable. Any taxpayer who fails or neglects to file a return within the time required shall be assessed a penalty of
$100.00 for each day of such delinquency, but not in excess of the greater of $100.00 or 25% of the tax. All penalties
shall be added to and become part of the tax and shall be enforceable and collectible in the same manner as the tax
or pursuant to the penalty enforcement law (Chapter 58 of Title 2A of the New Jersey Statutes) in a summary manner.
Such penalties shall be assessed by the assessor and be payable to and recoverable by the tax collector of the taxing
district. The assessor, upon request made on or before the last date for filing any return as fixed by law, may extend
the time to file such return to a date not later than the end of a 2-month period next following such last date for filing,
for good cause shown. (N.J.S.A. 54:4-2.49).
INSTRUCTIONS TO ASSESSOR
A. For those taxing districts which shall have completed and put into operation for the tax year 2014 a district-wide
adjustment of real property taxable valuations to conform to the percentage level, established for expressing the
taxable value of real property in the county, and if a statement to such effect has been included by the assessor in the
affidavit prescribed by section 54:4-36 of the Revised Statutes, the average ratio to be entered in line 2, Schedule B
shall be the same level as is established for the taxable value of real property in the county aka the county percentage
level (currently 100% in all counties).
B. For those taxing districts not meeting the requirements set forth in paragraph A above for the tax year 2014 there shall
be entered in line 2, Schedule B the lower of the 2013 county percentage level or the average ratio of assessed to
true value of real property in the taxing district promulgated by the Director of the Division of Taxation as of
October 1, 2013 for State school aid purposes pursuant to C.86, P.L. 1954 (N.J.S.A. 54:1-35.1 et seq.). If the
Director's 2013 average ratio is the lower, it shall not be rounded off but shall be used exactly as published by
the Director.
Form PT-10.1
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