This form is a simple model for a bill of sale for personal property used in connection with a business enterprise. Adapt to fit your circumstances.
Personal Property Business Form With Two Points In Fairfax
Category:
State:
Multi-State
County:
Fairfax
Control #:
US-00167
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Qualify for Personal Property Tax Relief Per the Code of Virginia §58.1-3524, personal property tax relief (PPTR) gives tax relief on the taxes due for the first $20,000 in assessed value on qualified personal vehicles. No relief is given on any assessment amounts over $20,000.
Business personal property tax is a tax on the furniture, fixtures, machinery, and tools used in a business, trade, or profession. The Code of Virginia (§58.1-3503) states that all tangible business personal property is taxable for the physical life of the property regardless of age (1 day or 1,000 years old.)
The aggregate of all tangible personal property owned by any person, firm, association, unincorporated company, or corporation which is leased by such owner to any agency or political subdivision of the federal, state or local governments shall be subject to local taxation.
Is there a real estate tax exemption for seniors and people with disabilities? Yes, Fairfax County provides real estate tax exemption to residents who are either 65 years of age or older or permanently and totally disabled and meet the income and asset eligibility requirements.
Section 4-7.2-1. (B) Gross receipts do not include revenues that are attributable to taxable business activity conducted in another jurisdiction within the Commonwealth of Virginia and the volume attributable to that business activity is deductible pursuant to Code of Virginia Sections 58.1-3708 and 58.1-3709.
Tax Rates. The current tax rate for most personal property in Fairfax County is $4.57 for each $100 of assessed value.
Business personal property is all property owned or leased by a business except real property.
Tangible personal property, or TPP as it is sometimes called, includes items such as furniture, machinery, cell phones, computers, and collectibles. Intangibles, on the other hand, consist of things that cannot be seen or touched like patents and copyrights.
More info
The New Business Tangible Personal Property Form is intended for first-time filers only. To request this information in an alternate format, contact the Department of Tax Administration at. option 3, TTY 711. While filing out form 2TA,. The instructions are also provided under Forms on this website. At the top of the Business Personal Property Tax Return, copy the complete legal name of the business and the. Show All Answers. 1. As a start, you need to fill out this form: Business Return of Tangible Personal Property, Machinery and Tools and Instructions. Register for the FCEDA's "Entrepreneurship. 101: Starting a Business in Fairfax County" workshop.
