Form Pt-100 - Business Personal Property Return (Page 2 of 2) in pdf

INSTRUCTIONS

Complete your social security number or federal employer's identification number and county in which the property is located. If you are

producing your own form it MUST be PRE-APPROVED by the Department of Revenue.

If there is a change of Ownership/Mailing Address or Business Name/Location, please make those changes in the area blocked off and

marked For Changes Only.

A file number will be assigned to you by the Department and appear as the property tax file number on the front of a preprinted return.

Always refer to this number when writing the Property Division.

Zeroes have been preprinted in the cents column of this form, therefore you must round off cents to the nearest whole dollar.

Line 1:

All costs associated with the acquisition of furniture, fixtures and equipment that are used in the business;

EXCLUDING licensed vehicles.

Line 2:

Deduct the adjusted depreciation. The depreciation allowed is the same as used for income tax purposes,

except the depreciation may not exceed 90% of the total acquisition cost for EACH item.

Line 3:

Total acquisition cost less the adjusted depreciation.

FILING REQUIREMENTS

Any business which opens after the end of the accounting period must file an initial return as of December 31st with the return being

due the last day of April. After the initial return, businesses are required to file on or before the last day of the fourth month after the

close of the accounting period regularly employed by the taxpayer, for income tax purposes.

THERE ARE NO PROVISIONS FOR EXTENSIONS FOR FILING BUSINESS PERSONAL PROPERTY RETURNS.

Failure to File or List Property - Section 12-54-44 provides: A person who willfully attempts to evade or defeat any tax or property

assessment, in addition to other penalties provided by law, is guilty of a FELONY and, upon conviction, must be fined not more than ten

thousand dollars or imprisoned not more than five years, or both, together with the cost of prosecution. The assessment may be

estimated from the best available information.

Revocation of License for Failure to Comply - Section 12-54-90 provides: Failure to comply with the law may result in revocation of

licenses within 10 days after notification.

Number of locations in SC

Location of records

Street

City

State

Do you lease equipment from another company?

Yes

(Attach List if needed)

If yes, from whom?

Lessor

Address

City

State

Do you own equipment which is leased to other businesses?

Yes

The net depreciate value from line 3 (front of form) will be assessed by the Property Division at the rate of 10.5%. The assessment will

be certified to the county in which the property is located, and the district millage applied to determine your tax bill for the coming year.

No further notice will be sent prior to the mailing of a tax bill by the county and/or district.

Signature - If someone other than the taxpayer prepares the return, then the property tax return must also contain the signature of the

return preparer.

Social Security Privacy Act Disclosure

It is mandatory that you provide your social security number on this tax form if you are an individual taking this credit. 42 U.S.C 405(c)(2)(C)(i) permits

a state to use an individual's social security number as means of identification in administration of any tax. SC Regulation 117-201 mandates that any

person required to make a return to the SC Department of Revenue shall provide identifying numbers, as prescribed, for securing proper identification.

Your social security number is used for identification purposes.

The Family Privacy Protection Act

Under the Family Privacy Protection Act, the collection of personal information from citizens by the Department of Revenue is limited to the information

necessary for the Department to fulfill its statutory duties. In most instances, once this information is collected by the Department, it is protected by law

from public disclosure. In those situations where public disclosure is not prohibited, the Family Privacy Protection Act prevents such information from

being used by third parties for commercial solicitation purposes.

70022033

Form Pt-100 - Business Personal Property Return Page 2

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