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2020 TANGIBLE PERSONAL PROPERTY TAX RETURN 62A500-W (1-20) Commonwealth of Kentucky DEPARTMENT OF REVENUE Station 32 FOR OFFICIAL USE ONLY County Code T? ? ? ?/? ? ? ? ? Due Date: Friday May 15, 2020.

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Related content

Business Personal Property - Kentucky Department...
Each individual, partnership, or corporation that has taxable personal property must file...
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Personal property includes vehicles, farm equipment, jewelry, household goods, stocks, and bonds. Personal property is divided into "tangible" and "intangible" forms. Tangible personal property is just that: it has a physical form. ... These include assets such as patents, trademarks, stocks, and bonds.

Tangible personal property (TPP) comprises property that can be moved or touched, and commonly includes items such as business equipment, furniture, and automobiles. This is contrasted with intangible personal property, which includes stocks, bonds, and intellectual property like copyrights and patents.

All property in Kentucky, unless exempted by the Kentucky Constitution or statute, is subject to taxation. Tangible personal property is not exempted.

Overview of Kentucky TaxesProperty taxes in in Kentucky are relatively low. The typical homeowner in Kentucky pays just $1,120 annually in property taxes, around half the national median. The state's average effective property tax rate is 0.86%.

Returns filed after May 15th should be mailed to Kentucky Department of Revenue, Omitted Tangible Branch, 501 High Street, Station 32, Frankfort, KY 40601.

Motor Vehicle Property TaxMotor Vehicle Property Tax is an annual tax assessed on motor vehicles and motor boats. ... It is levied at six percent and shall be paid on every motor vehicle used in Kentucky. The Kentucky Transportation Cabinet is responsible for all title and watercraft related issues.

Tangible Personal Property is everything, other than real estate, that you use to operate your business. It includes furniture, fixtures, computers, tools, machinery, signs, equipment, leasehold improvements, supplies, leased equipment and any other equipment used in a business or to earn an income.

After a carpet has been permanently affixed to flooring, it loses its identity as tangible personal property. No tax applies to carving a decorative design or groove into carpeting which has been permanently installed.

Tangible personal property is every physical item subject to ownership, except real and intangible property. Lessors and Lessees of Tangible Personal Property Leased property must be listed by the owner on Revenue Form 62A500, regardless of the lease agreement's terms regarding tax liability.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
KY DOR 62A500-W
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