Personal Property Department
Unlike Real Estate assessments, Personal Property is a self-assessment system. The taxpayer is responsible for reporting all tangible personal property that is used in their trade or business, used for the production of income, or held as an investment that should be or is subject to depreciation for federal income tax purposes.
Per IC 6-1.1-2-1.5, the assessment date for Personal Property is January 1st beginning in 2016 and the filing is due May 15th each year. Amended returns are allowed within twelve months from the date of original return. Only timely filed original returns can be amended per IC 6-1.1-3-7.5.
Under $20,000 Exemption
Do you own a business that holds and/or operates equipment with a total acquisition cost under $20,000? You may qualify for an exemption on your tangible business personal property equipment. An Under $20,000 Exemption Form MUST be filed with our office annually.
Forms & Instructions
Click here for all other Personal Property Forms
Recent changes in Indiana law now require taxpayers who file a Business Tangible Personal Property Return (103 Long, 103 Short, or 102 Farm) to complete the entire form.
The following are regularly absent from filed business personal property returns:
- Principal Business Codes (see NAICS Business Activity Codes below)
- Federal ID Numbers/Social Security Numbers
- Taxpayer Signatures
- Incomplete returns may result in fines pursuant to Indiana law IC 6-1.1- 37-7(d).
*All Form 102's and 103's need to be coded with whichever code best describes the business that the forms are being submitted for.
Located on page one of the Business Tangible Personal Property Return (Forms 102 & 103), this is the same six-digit principal business activity code that appears in Schedule K, Line 2(a) of a corporation's federal income tax return.