Fillable FORM MT-18: 2018 Return of Business Tangible Personal

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FORM MT-18: 2018 Return of Business Tangible Personal

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TAXPAYER NAME/ADDRESS:
TYPE OF BUSINESS ______________________________
BUSINESS PHONE _______________________________
FEDERAL I.D. ____________________________________
FAX NUMBER ___________________________________
E-MAIL _________________________________________
DATE BUSINESS BEGAN _____/_____/_____
DATE BUSINESS CLOSED _____/_____/_____
LOCATION/ADDRESS OF PROPERTY ____________________________________________________________________________________
Section 3
1. Total Taxable Value (A + B)1. Total Taxable Value (A + B)
City of Richmond
Division of Assessments
PO Box 26505
Richmond, VA 23261
PLEASE PRINT ALL
INFORMATION
PROCESSOR'S INITIALS
CUSTOMER # PROPERTY # RETURN #
Please do not write in SHADED areas.
TANGIBLE PERSONAL PROPERTY OWNED & USED OR AVAILABLE FOR USE JANUARY 1, 2018
PLEASE READ INSTRUCTIONS (ON BACK) CAREFULLY BEFORE COMPLETING SECTIONS 1 & 2.
THIS FORM IS AVAILABLE FOR COMPLETION ON THE CITY WEBSITE AT www.richmondgov.com
Did you lease or rent furniture, fixtures or equipment from or to others as
of 1-1-18? q
Yes q No
If yes, see instructions on reverse side.
Willful failure to file this return is a criminal offense in violation of Section 58.1-3518 of the Code of Virginia. Any taxpayer required to file a return who
neglects to do so, will be subject to a statutory assessment. You will be assessed a 10% filing penalty for failure to file a return by March 1, 2018.
NOTE:Wewill not accept renditions in lieu of a return (i.e. 762). Update your billing information on the reverse side.
Please do not remit payment with this return.
I declare to the best of my knowledge that the figures submitted on this return are true and correct.
Signature________________________________________________ Date ______________________ Daytime Phone _________________________
YEAR ACQUIRED COST
%
ASSESSED
VALUE
Total Adjusted Value
Total Adjusted Value
Total Adjusted Value
Total Adjusted Value
All Prior Years
All Prior Years Total
Adjusted Value
TOTALS
A.
Enter 2017 Purchases here
90%
2016
80%
80%
2015
70%
70%
2014
60%
60%
2013
50%
50%
40%
40%
YEAR ACQUIRED COST
%
ASSESSED
VALUE
Total Adjusted Value
Total Adjusted Value
Total Adjusted Value
Total Adjusted Value
All Prior Years
All Prior Years Total
Adjusted Value
TOTALS
B.
Enter 2017 Purchases here
70%
2016
60%
60%
2015
30%
30%
2014
15%
15%
2013
10%
10%
5%
5%
Section 1 (MTNC) Section 2 (MTCE)
FILE ON OR BEFORE MARCH 1, 2018
1. MACHINERY & TOOLS is defined as machinery and tools used in a
manufacturing, mining, processing or reprocessing, radio or television
broadcasting, dairy, dry cleaning or laundry business (except computer
equipment reported in Section 2 and certified short-term rental property).
The Machinery and Tool tax rate is $2.30 per hundred dollars of value.
2. COMPUTER EQUIPMENT
is defined as central processing units,
direct access storage units and magnetic tape drives; peripherals such as
printers, card readers, optical characters/mark readers, computer output
concentrators, cathode ray tube displays, file servers and shared printer
servers: personal computers and associated display devices. Computer
Equipment tax rate is $2.30 per hundred dollars of value.
2018 Return of Business
Tangible Personal Property
FORM MT-18
click to sign
signature
click to edit
** Please note that the Code of Virginia does not permit localities to prorate business tangible personal property**
Address Correction
Name: _____________________________
Address: ___________________________
___________________________________
___________________________________
___________________________________
City of Richmond
INSTRUCTIONS MACHINERY AND TOOLS
As stipulated in §58.1-3518 of the Code of Virginia, it is
the responsibility of every taxpayer who owns, leases,
rents or borrows tangible personal property that was
used or available for use in a business and which was
located in the City of Richmond, Virginia, on January 1,
2018, to report such property on this return.
This property must be reported in Section 1, 2, 4 and 5 of
this return, and is not limited to, but must include
personal property that has been expensed or fully
depreciated on the federal income tax return. DO NOT
REPORT MOTOR VEHICLES, TRAILERS,
WATERCRAFT OR AIRCRAFT ON THIS RETURN.
Property must be reported at its actual cost before any
allowances for trade-in or depreciation. The cost figures
must be reported as of January 1
st
.
Section 1
— Report in this section the cost of all tangible
personal property that is owned by the taxpayer filing this
return. This section is, in general, reserved for such
personal property as manufacturing machinery and tools
and some leasehold improvements. Also report in this
section all radio or television broadcasting, dairy, dry
cleaning or laundry equipment. Do not report in
Section1 computer equipment (as defined in Section 2),
certified short-term rental property or personal property
that is leased, rented, or borrowed from others.
Section 2
— Report in this section the cost of all
home/office or mainframe computer equipment that is
owned by the taxpayer and used in the business filing
this return. This section is reserved for computer
hardware, peripheral equipment, and operation software
(e.g. Microsoft Windows). DO NOT INCLUDE
APPLICATION SOFTWARE (e.g. Microsoft Word and
Excel).
NOTE: An explanation must
be provided with this return
if there is a difference between the reported yearly cost
figures shown in Sections 1 and 2 of this return and your
2017 return.
Section 3
— Used to calculate the total value of all
property listed on the return. Penalty
assessed on all
returns not filed on or before March 1, 2018. If the return
is filed after the deadline or if taxable property was not
reported by that date, the late filing penalty applies and
will be assessed with the billing.
LATE PAYMENT INTEREST WILL BE ASSESSED AT
10% PER ANNUM AFTER JUNE 5, 2018.
Section 4
— Report on the Fixed Asset Schedule an
itemized list of all personal property reported in Sections
1 and 2 including a description, cost and year acquired.
IF YOU OWN NO BUSINESS TANGIBLE PERSONAL
PROPERTY, YOU MUST STILL FILE A RETURN.
Please enter “NONE” in Sections 1 and 2 of this form
and provide an explanation as to how your business is
conducted without the use of tangible personal property.
Section 5
— Report in this section all tangible personal
property that is leased, rented, or borrowed from others
as required by § 58.1-3518 of the Code of Virginia.
Please review the terms of each lease to determine if it is
a true lease. A “lease-purchase” (“capital lease”), usually
non-cancelable and characterized by a nominal (often
$1.00) buyout provision, is actually a financing
arrangement and should be reported in Section 1 or 2,
not in Section 5. Please call this office if you have
questions. Please enter “None” if this is not applicable.
Return to:
City of Richmond
900 East Broad Street
Room 103
Richmond, Virginia 23219
Phone:
(804) 646-7000 Fax: (804) 646-5848
You can register to have your personalproperty billing
statements emailed to you for review and payment using
our new Invoice Cloud option.You can obtain more
information by visiting www.richmondgov.com
and
following the links to the Finance webpage.
Section 4:
Item Description Cost Year Acquired Item Description Cost Year AcquiredItem Description Cost Year Acquired Item Description Cost Year Acquired
See Leased Equipment Schedule on the reverse side.
Fixed Asset Schedule
You must complete the fixed asset schedule annually or provide a detailed asset listing showing
allbusiness assets. We accept electronic asset schedules emailed to
FIN-BPPTX@Richmondgov.com in a Windows Excel or Access format.
NOTE: We will not accept renditions (i.e. 762) in lieu of a return.
Account Number:
Section 5:
Leased Equipment Schedule
As required by Section 58.1-3518 of the Code of Virginia, list below all tangible personal
property that you lease or rent from others. Please do not list vehicles, trailers, boats,
aircraft or watercraft.
Name of Address of Lease Period Lease Original Address of
Leasing Company Leasing Company From To Account # Cost Property
See Fixed Asset Schedule on the reverse side.
Account Number:
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FORM MT-18: 2018 Return of Business Tangible Personal

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Completed 16 July 2020

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