Form 2698 - Idle Equipment, Obsolete Equipment, And Surplus Equipment Report - 2014 Page 2
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1
2Section E -
Page 2
Including Consumer
Assessor Calculations
Coin Operated Equipment
Section F -
.368
2013
Including Computer
Assessor Calculations
Equipment
.340
2012
.240
.308
2013
2011
.176
.276
2012
2010
.128
.244
2011
2009
.096
.216
2010
2008
.076
.184
2009
2007
.060
.152
2008
2006
.032
.120
2007
2005
.032
.092
Prior
2004
.060
2003
TOTALS
F1
F2
.060
Prior
TOTALS
E1
E2
Cost Grand Total (For Idle, Obsolete
True Cash Value Grand Total (For Idle,
or Surplus Equipment)
Obsolete or Surplus Equipment)
Taxpayer: Add totals from the cost
Assessor: Add True Cash Value
columns of Sections A-F (A1-
totals
from
Sections
A-F
(A2
Taxpayer
Assessor
through F1). Enter grand total and
through F2) Enter grand total here
carry to line 13a, page 1, of Form
and carry to line 13b, page 1, of
L-4175.
Form L-4175.
I, ________________________________________, hereby attest that, to the best of my knowledge and belief, all of the property
listed on this form is idle equipment or obsolete or surplus equipment as those terms are defined in the instructions below.
Signature
Date
Title (Please print or type)
Must be signed by Owner, Partner or Corporate Officer or duly appointed representative.
INSTRUCTIONS
•
This form is for use in reporting idle equipment and obsolete or
Has been declared as surplus by an owner who is abandoning a
surplus equipment as defined in these instructions. For purposes of
process or plant and is being disposed of by means of an advertised
completing this form, the allocation of personal property to Sections A
sale or through an agent. The sale must be an unconditional sale to
through F shall be made in accordance with the instructions for
any and all prospective purchasers rather than being restricted to
completion of Sections A through F of Form L-4175 (Form 632),
other divisions of a company.
Personal Property Statement. Both idle equipment and obsolete or
surplus equipment will be reduced by the assessor to 40% of the value
Equipment cannot qualify as idle or obsolete or surplus until it has
obtained by applying the normal State Tax Commission personal
been placed in service. Equipment that is operating on tax day does
property multipliers to original acquisition costs.
not qualify for treatment as idle equipment or obsolete or surplus
equipment. Standby equipment is not idle equipment or obsolete or
Read the following descriptions of idle equipment and obsolete or
surplus equipment. Standby equipment is equipment that is not
surplus equipment to determine whether your personal property may
usually in use but is ready and immediately on hand for use when
qualify to be reported on this form. Only property that would otherwise
needed, e.g., a standby boiler or standby production machines. The
be reported on Sections A-F of Form L-4175, may be claimed as idle
allowances for idle or obsolete and surplus equipment are available
or obsolete or surplus equipment.
only in cases where a process has been discontinued or where
individual items of property are being liquidated on a piecemeal
If you have personal property that qualifies, complete this form and file
basis. A process that has been temporarily suspended and/or which is
it with Form L-4175. Assets reported as idle equipment or obsolete or
being marketed as a complete process, for continued use at the same
surplus equipment should not be reported on Sections A through F of
location, does not qualify for treatment as idle or obsolete and
Form L-4175. You must add the totals from Sections A through F (A-1
surplus.
through F1) and insert this sum in the "Cost Grand Total" box above.
This "Cost Grand Total" must be carried to line 13a of the "Summary
Sometimes equipment, for various reasons, is normally not used
and Certification" contained on page 1 of Form L-4175.
throughout the year (e.g., Holiday and seasonal decorations,
construction equipment) or is normally used only on an intermittent
Idle Equipment and Obsolete or Surplus Equipment
basis. This type of equipment does not qualify for the idle or obsolete
Idle equipment is equipment that has been disconnected and stored in
or surplus treatment when it is seasonally or intermittently used.
a separate location. This equipment is not part of an existing process,
not even on a standby basis.
Sometimes, equipment may be "idle-in-place" because storage in a
Obsolete or surplus equipment is equipment that either:
separate location is not feasible. This might be due to the large size of
Requires rebuilding for continued economic use and is in the
the equipment involved or the fact that it is underground equipment.
•
possession of a machine rebuilding firm on tax day, or
Proof should be presented to the assessor that equipment is
"idle-in-place."
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