Fill - Free fillable Freeport-Exemption-Application PT50PF-Freeport Application revised 12-4-17 PDF form

1|Page

APPLICATIONFORFREEPORT

INVENTORYEXEMPTION

SeeO.C.G.A.4

8‐5‐48.1,48‐5‐48.2,48‐5‐48.5,and48‐5‐48.6



RETURNCOMPLETEDFORMTOADDRESSLISTEDBELOW

TAXYEAR IFASSISTANCENEEDEDCALL ACCOUNTNUMBER

DUEDATE MAPANDPARCELI.D.NO NAICSNO.

COUNTYNAMEANDRETURNADDRESS

TAXPAYERNAMEANDADDRESS

Thelastdayforfilingthisapplicationtoreceivefull

exemptionisshownintheDUEDATEboxabove.

IffilingaftertheDUEDATE,areducedexemptionamount

maybeapplicableasfollows:iffiledApril2‐April30(66.67%

ofthefullexemption),iffiledMay1‐May31(58.33%),iffiled

onJune1(50%).FailuretofilebyJune1shallconstitutea

waiveroftheentireexemptionfortheyear(0.0%)



BUSINESSPHYSICALLOCATION

IFNAMEORMAILINGADDRESSISINCORRECT,PROVIDECORRECTDATA

NAME:

ADDRESS:

CITY,STATE,ZIP:

1.Describethetypeofbusiness:

2.Inventoryvaluesmustbereportedat100%fullcostatleveloftradewhichincludesfreight,burden,overhead,andotherchargesasofJanuary1oftaxableyear

3.Listthemethodofinventoryvaluationused:

__________________.Listthemethodofinventorycostidentification:___________________________

4.SUMMATIONOFINVENTORY

a.Totalvalueof‘AllInventory’heldonJanuary1oftaxableyear

$

b.Totalvalueofallinventoryheldas‘StockinTradeofaRetailer’asofJanuary1oftaxableyear

$

5.FREEPORTLEVEL‘1’(NOTE:NotallcountiesofferLevel1Freeport–checkwithcountyforappropriateexemption%foreachcategory)

a.“FinishedGoods”heldlongerthan12months

$

b.Packagingmaterials(boxes,cartons,cases,fillers,labels,liners,pallets,plastictrays,shrinkwrap,tape,etc.) $

c.Otherexpensedsupplies(i.e.gasoline,medicalsupplies,officesupplies,productionsupplies,safetygear,uniforms,etc.)

$

d.Sparepartsinventory

$

e.Enterthe‘FULLCOST’foreachcategorybelowandenterthecombined‘FULLCOST’forallcategorieshere:→

$

Category1–RawmaterialsandGoodsinProcessofaMANUFACTURER

______________________X*__________ =___________________________

‘FULLCOST’Category1Exemption% ‘EXEMPTIONAMOUNT’

Category2–“FinishedGoods”manufacturedinGeorgiaheldbyoriginalMANUFACTURERlessthan12months

______________________X*__________ =___________________________

‘FULLCOST’Category2Exemption% ‘EXEMPTIONAMOUNT’

Line5e‐Category3–“FinishedGoods”ofDISTRIBUTORheldlessthan12monthsdestinedforout‐of‐stateshipment

______________________X*__________ =___________________________

‘FULLCOST’fromPage2,Line8(e)Exemption% ‘EXEMPTIONAMOUNT’

Category4–“StockinTradeofaFULLFILLMENTCENTER”heldlessthan12months

______________________X*__________ =___________________________

‘FULLCOST’Category4Exemption% ‘EXEMPTIONAMOUNT’

f.ApplytheappropriateLevel1exemptionpercentagesaboveandenterthecombined‘EXEMPTIONAMOUNT’onthisline.

ThisrepresentsthetotalFreeportLevel‘1’Exemptionamount.

$

6.FREEPORTLEVEL‘2’(NOTE:NotallcountiesofferLevel2Freeport–checkwithcountyforappropriateexemption%)

a. EntertotalcostofallmerchandiseheldasinventoryfromLine‘4a’excludingamountsenteredonLines‘5b’,‘5c’,‘5d’,and‘5e’

$

b. MultiplyLine‘6a’by‘appropriateexemption%‘forLevel2Freeportandenteramountonthisline.

ThisrepresentsthetotalapplicableFreeportLevel‘2’Exemptionamount.

$

7.ATTACHANDFILETHISFORMWITHPT50P‐TAXPAYERRETURN

a.TotalFreeport‘1’&‘2’Exemption(addLines‘5f’and‘6b’andenteramounthereandonPT50P,Page1,Line‘P’)

$

b.TotalTaxableInventory(SubtractLine‘7a’fromLine‘4aandenteramounthereandonPT50P,Page1,Line‘I’)

$

PT50PF

Rev12

17

2|Page

8. EXPLANATIONOFWHATISEXEMPTEDBYFREEPORT

FREEPORTLEVEL1‐MANUFACTURINGORPRODUCTIONBUSINESS(seeO.C.G.A.48‐5‐48.1and48‐5‐48.2)

CATEGORY1.Inventoryofgoodsintheprocessofmanufactureorproductionwhichshallincludeallfinishedgoodsandrawmaterialsheldfordirectuseorconsumption

intheordinarycourseofthetaxpayersmanufacturingorproductionbusinessinthisstate.Thisexemptionshallapplytotangiblepersonalpropertywhichissubstantially

modified,alteredorchangedintheordinarycourseofthetaxpayer’smanufacturing,processingorproductionoperationsinthisstate.Forpurposeofthisexemption

“RawMaterials”shallmeananymaterial,whethercrudeorprocessed,thatcanbeconvertedbymanufacturing,processing,oracombinationthereofintoanewand

usefulproductbutshallnotincludeunrecovered,unextractedorunseverednaturalresourcesorpackingmaterials.

CATEGORY2.Inventoryof“FinishedGoods”manufacturedorproducedwithinthisstateintheordinarycourseofthetaxpayermanufacturingorproductionbusiness

whenheldbytheoriginalmanufacturerorproducerofsuchgoods.Thisexemptionshallbeforaperiodnotexceeding(12)monthsfromthedatesuchpropertyis

producedormanufactured.

FREEPORTLEVEL1‐WHOLESALEORDISTRIBUTIONBUSINESS(seeO.C.G.A.48‐5‐48.1and48‐5‐48.2)

CATEGORY3.Inventoryof“FinishedGoods”which,onJanuary1,arestoredinawarehouse,dock,orwharf,whetherpublicorprivate,andwhicharedestinedfor

shipmenttoafinaldestinationoutsidethisstateandinventoryoffinishedgoodswhichareshippedintothisstatefromoutsidethisstateandstoredfortransshipment

toafinaldestinationoutsidethisstate.Theexemptionshallbeforaperiodnotexceeding(12)monthsfromthedatesuchpropertyisstoredinthisstate.Suchperiod

shallbedeterminedbasedonapplicationofafirst‐in,first‐outmethodofaccountingfortheinventory.Theofficialbooksandrecordsofthewarehouse,dock,orwharf

wheresuchpropertyisbeingstoredshallcontainafull,true,andaccurateinventoryofallsuchproperty,includingthedateofthereceiptoftheproperty,thedateof

withdrawaloftheproperty,thepointoforiginoftheproperty,andthepointoffinaldestinationofthesame,ifknown.

CALCULATEINVENTORYQUALIFIEDFORFREEPORTLEVEL1‐CATEGORY3:

(a)Total“FinishedGoods”inventoryshipmentsfromthiscountyduringthelastcompletecalendaryear:

(b)Total“FinishedGoods”inventoryshipmentsfromthiscountyduringthelastcompletecalendaryeartoan

out‐of‐Statedestination:

(c)PercentageofOut‐of‐Stateshipments:(‘b’dividedby‘a’)

(d)Total“FinishedGoods”inventoryonJanuary1ofthisyear:(Excludeinventorystoredover(12)months)

(e)Estimatedout‐of‐Stateshipmentsthisyear:(multiply‘c’times‘d’)EnteronPage1,line5e‐Category3

(a) $

(b) $

(c) %

(d)$

(e) $

FREEPORTLEVEL1‐FULFILLMENTCENTER(seeO.C.G.A.48‐5‐48.1and48‐5‐48.2)

CATEGORY4.“StockinTradeofaFulfillmentCenter”meaninggoods,wares,andmerchandiseheldbyoneinthebusinessofmakingsalesofsuchgoodswhensuch

goodsareheldorstoredatafulfillmentcenterandheldlessthan12monthsandwhichismadeavailabletoREMOTEpurchaserswhopurchasebyelectronic,internet,

telephonic,orotherREMOTEmeans,andwheresuchstockwillbeSHIPPEDfromthecentertoalocationotherthanthefulfillmentcenter.

ForthepurposeofFreeportLevel1:

“FinishedGoods”meansgoods,wares,andmerchandiseofeverycharacterandkindbutshallnotincludeunrecovered,unextracted,orunseverednaturalresourcesor

rawmaterialsorgoodsintheprocessofmanufactureorproductionortheStock‐inTradeofaRetailer.“StockinTradeofaRetailer”meansfinishedgoodsheldbyonein

thebusinessofmakingsalesofsuchgoodsatretailinthisstate,withinthemeaningofChapter8ofTitle48,whensuchgoodsareheldorstoredatabusinesslocation

fromwhichsuchretailsalesareregularlymade.Goodsstoredinawarehouse,dock,orwharf,includingawarehouseordistributioncenterwhichispartoforadjoinsa

placeofbusinessfromwhichretailsalesareregularlymade,shallnotbeconsideredstockintradeofaretailertotheextentthatthetaxpayercanestablish,througha

historicalsalesorshipmentanalysis,eitherofwhichutilizesinformationfromtheprecedingcalendaryear,orotherreasonable,documentedmethod,theportionor

percentageofsuchgoodswhichisreasonablyanticipatedtobeshippedoutsidethisstateforresalepurposes.“StockinTradeofaFulfillmentCenter”meansgoods,

wares,andmerchandiseheldbyoneinthebusinessofmakingsalesofsuchgoodswhensuchgoodsareheldorstoredatafulfillmentcenter.

FREEPORTLEVEL2(seeO.C.G.A.48‐5‐48.5and48‐5‐48.6)

FREEPORTLEVEL2.Inventoryoffinishedgoodsheldbyoneinthebusinessofmakingsalesofsuchgoodsinthisstateandwhichincludesgoods,wares,and

merchandiseofeverycharacterandkindconstitutingabusiness’inventorythatwouldnototherwisequalifyforaLevel1freeportexemption

9. SUPPORTINGINFORMATION:a.Physicallocationofinventoryinthiscounty.(List)

b. DoesthetaxpayerhavewrittenreportstosupportthisFreeportexemption?NO(__)Yes(__)Providethelocationofsuchbooksandrecords.

c. ProvideNAMEandCONTACTinformationforpersonresponsibleforansweringquestionspertainingtothisinventory.

10. OATHOFPERSONMAKINGAPPLICATIONFOREXEMPTION:“Idosolemnlyswear,thatIhavecarefullyread(orhaveheardread)andhavedulyconsideredthe

questionspropoundedintheforegoingtaxlist,andthatthevalueplacedbymeonthepropertylistedasshown,isthetruemarketvaluethereof,andIfurtherswear,or

affirm,thatIreturned,forthepurposeofbeingtaxedthereon,everyspeciesofinventorythatIowninmyright,orhavecontrolof,eitherasagent,executor,administrator,

orotherwise;andinmakingthisapplication,forthepurposeofbeingtaxedthereon,Ihavenotattempted,eitherbytransferringmypropertytoanotherorbyanyother

means,toevadethelawsgoverningtaxationinthisstate.Idofurtherswear,oraffirm,thatinmakingthisapplication,Ihavedonesobyestimatingthetrueworthand

valueofeveryspeciesofinventorycontainedtherein.”

(TaxpayerSignature) (Title) (Date)

(PreparersSignature) (Title) (Date)

11.DISPOSITIONOFTHECOUNTYBOARDOFTAXASSESSORS:

~APPROVED~ ~DISAPPROVED~

Download
Save PDF to desktop

Email
Email completed PDF

Send for Signing
Email for others to sign

Print
Print document

NAME

Freeport-Exemption-Application PT50PF-Freeport Application revised 12-4-17

View Audit Log
Print With Audit Log
Duplicate Document

Fill Online, Printable, Fillable, Blank Freeport-Exemption-Application PT50PF-Freeport Application revised 12-4-17 Form

Related forms

Fillable Freeport-Exemption-Application PT50PF-Freeport Application revised 12-4-17

Fill Online, Printable, Fillable, Blank Freeport-Exemption-Application PT50PF-Freeport Application revised 12-4-17 Form

Related forms

First 20 documents completely FREE!