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| Request for Business Personal Property Tax Forms |
Business Personal Property Tax Forms and Instructions
New Process & New Forms for 2008
Download: Business Tangible Personal Property Tax Return (2008)
Download: Machinery & Tools Tax Return (2008)
Business Tangible Personal Property and Machinery & Tools Taxes is a two step process in 2008.
Step 1: Complete the appropriate form for your business and submit, without a payment, by the March 3, 2008
filing deadline. Non-manufacturing businesses should complete the form with Section 1, Furniture and Fixtures, (05) and
Section 2, Computer Equipment (04). Manufacturers should use the form with Section 1, Machinery & Tools, (10) and
Computer Equipment (11).
Returns not filed by the March 3, 2008 filing deadline will incur a late filing penalty of 10% of the tax assessment.
Step 2: Remit your tax payment on or before the May 1, 2008 tax due date. You will receive a tax bill from the City of Richmond
based on the information submitted with your tax return in Step 1. Please contact the Tax Assessment Office at (804) 646-5700 should you
have any questions regarding your bill or if you fail to receive either the form in Step 1 or the tax bill for Step 2.
Payments received after the May 1, 2008 tax due date will incur a late payment penalty of 10%, plus accrue
interest at 10% per annum. Payments that are not received within 60 days of the May 1, 2008 tax due date will incur an
additional 5% late payment penalty.
All persons owning tangible personal property (other than motor vehicles, trailers, boats, or aircraft), that is used or
available for use in a trade or business, or manufacturers owning machinery and tools that are used or available for use in
manufacturing, mining, radio or television broadcasting, dairy, dry cleaning or laundry businesses, and located within the
City of Richmond as of January 1 of the tax year must file a return of business tangible personal property by March 3, 2008
and remit their tax payment by the May 1 tax due date. Late returns are assessed a late filing penalty of 10%. Late payments
are assessed a 10% late payment penalty and accrue interest charges at 10% per annum. Beginning in 2008, payments not received
within 60 days of the May 1 tax due date will incur an additional 5% late payment penalty. The property will be assessed at
various percentages of the total capitalized cost, depending on the year of acquisition. All such property must be reported
annually, including that which has been expensed or fully depreciated.
Special Note for Manufacturers! 2007 legislation signed by the Governor on March 9, 2007 (HB2181 & SB1151)
requires notification of machinery and tools that will be “idle” for at least 12 months beginning the next tax date,
January 1, 2009. The notification must be submitted to the City of Richmond by April 1, 2008. Only such notifications
received by April 1, 2007 will affect idle machinery and tools for the 2008 tax year.
For assistance with corrections of property acquired in prior years please call us at (804) 646-5690.
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