Form Fr-399 - Qualified High Technology Companies Tax Package Page 24
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32Qualified High Technology Companies
Qualifying Tangible Personal Property
Refunds and Exemptions
Refund of Personal Property Tax Paid on Qualifying Tangible Personal Property
Acquired after December 31, 2000.
A certified DC Qualified High Technology Company (QHTC) which paid DC personal
property tax on qualifying tangible personal property acquired after December 31, 2000, may
claim a refund of the tax paid by filing an amended Form FP-31, personal property tax return.
The qualifying tangible personal property purchased by a certified DC QHTC and held for use
in its trade or business must be reported in Schedule D-3 (included in this publication) and
filed with Form FP-31.
Exemption from DC Personal Property Tax of Qualifying Tangible Personal Property
Acquired after December 31, 2000
Qualifying tangible personal property purchased and used or held for use in a certified DC
QHTC’s business may be claimed as exempt from the DC personal property tax. The property
must be reported in a Schedule D-3 filed with Form FP-31. A completed Schedule D-3 and a
completed DC Form QHTC-CERT must be filed with Form FP-31.
Schedule D-3 of Form FP-31
A certified DC QHTC claiming exemption for qualifying tangible personal property which it
purchased after December 31, 2000, or which is in its possession pursuant to a lease – pur-
chase or security – purchase agreement (a capital lease – under which it is required to
become the owner of the property) must report the property in a Schedule D-3 filed with
Form FP-31.
All such property acquired or leased under a lease-purchase or security-purchase agreement
prior to January 1, 2001, is not tax exempt. The property must be reported in Schedule A of
Form FP-31.
Schedule D-4 of Form FP-31
A non QHTC which, after December 31, 2000, rents or leases qualifying tangible personal
property to a certified DC QHTC under a lease-purchase or security-purchase agreement
must report the property in a Schedule D-4 (included in this publication) filed with Form FP-31.
Note: A non QHTC lessor of such property acquired prior to January 1, 2001, under a similar
lease arrangement must report the property in Schedule D-2 of Form FP-31.
Schedule A of Form FP-31
Qualifying tangible personal property leased by a non QHTC under an operating lease (no
ownership implication for the lessee) to either a certified QHTC or a non QHTC is subject
to the personal property tax. The property tax must be reported in Schedule A of Form FP-31.
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