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Tax - Listings Division - Business Personal Property

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1. What is Business Personal Property?

All assets used in the conduction of a business or trade is Business Personal Property and should be listed with the County.

2. What business personal property am I required to list?

All businesses should list all asets used in the conduction of their business. Examples are: computers, printers, copiers, furniture & fixtures, machinery & equipment, tools, telephone and their systems, fax machines, alarms, display cabinets, racks, etc., cleaning supplies, office supplies. This list is illustrative of the type of property that should be listed, but there may be other assets that should be listed. Additional questions may be directed to the Tax Office Listings Division at 910-989-2201. All assets used in a business should be listed whether they are capitalized or expensed, with the exception of expensed computer software.

3. Am I required to list household furnishings?

If you rent your house or condo, it is considered to be a business and you are required to list all personal property associated with the property.  The amount listed is the actual historic cost of the furnishings, or 8% of the house value if actual cost is unavailable.

4. I listed my business in the wrong county. Will I be penalized?

If you listed in the wrong county and your listing was on time, you will not be penalized. However, you will have to furnish proof of filing on time in the other county.

5. My business was listed in two counties. Can I get a refund?

You may be subject to a refund in Onslow County if you did not have any assets in this County on January 1st. However, you will have to show proof that you listed your property in another county. You may send a copy of your listing in the other county.

6. When does the Business Personal Property need to be listed?

The listing deadline for filing business personal property is January 31st, unless you have requested and been granted an extension. The filing deadline is extended until March 15th with an approved extension request.

7. I purchased a new business. What do I need to do?

Visit https://www.onslowcountync.gov/1042/Business-Listings or contact our Listings Division at 910-989-2201.

8. How do I get my business personal property account number?

You can do a tax bill search by business name to view the account number associated with current and previous tax bills at https://onslowco.munisselfservice.com/citizens/; or call our office at 910-989-2201.

9. Can I list my business property on-line?

There is not currently a process in place to accommodate on-line listing.

10. Can my accountant list my business property on-line?

There is not currently a process in place to accommodate on-line listing.

11. Can my accountant sign my personal property listing form?

An agent of the taxpayer authorized by the taxpayer or a principal officer may sign the listing. The agent must have an Authorized Agent Form on file with the NC Department of Revenue for each taxpayer.

12. Can I request an extension for listing business property?

Yes, you can request an extension for listing your business. The request must be received or US postmarked by January 31st.

13. If I am granted an extension, what is the deadline for submitting my listing?

If your listing is mailed to our office, it must be received or US postmarked by March 15th.

14. Are instructions available for completing the business listing form?

Instructions for preparing listing forms are attached to the form. Visit https://www.onslowcountync.gov/1042/Business-Listings

15. How did you arrive at the values on my business property?

Appraisers apply the North Carolina Department of Revenue Cost and Depreciation schedules to the cost listed by you to determine the assessed value.

16. What is the assessed value of my business property?

The assessed value of your business personal property is the fair market value derived from the cost, depreciated according to the type of property.

17. How much are the taxes on my business personal property?

Taxes are calculated according to the (Assessed Value X Tax Rate) in your district per one hundred dollars valuation.

18. How do I request an extension?

You may request an extension online by visiting our website at https://www.onslowcountync.gov/1042/Business-Listings or mail, fax or email the request by the end of the listing period, January 31st.

19. When are the listing forms mailed?

The listing forms are generally mailed the last week of December. If you do not receive your listing forms by the middle of January, call this office at 910-989-2201.

20. I purchased my business after January 1st. Do I have to list?

If you were not operating your business on January 1st, you do not have to list the business for that year. However, if you are in business on January 1st of the following year, you will have to list your business with the Tax Administration Office.

21. I closed my business after January 1st. I received a tax bill. How much am I responsible for?

Ownership, value and situs are determined as of January 1 of each year. You are responsible for the taxes for this year. The following January when you receive a business listing form, you will need to write on it that the business was sold and what happened to the assets.

22. I sold my business. Do I have to list my business?

If you sold your business after January 1st, you will have to list your business and note on the listing form when the business was sold.

23. When can I appeal my business personal property value?

Pursuant to N.C.G.S. 105-317.1 you may appeal your business personal property value within 30 days of the bill date. Your appeal must be made to Onslow County Tax Administration. Appeal forms can be downloaded from our website at: https://www.onslowcountync.gov/307/Personal-Property-Appeals-Process

24. Is software taxable?

Software is taxable if it is embedded, meaning computer instructions known as microcode that resides permanently in the internal memory of a computer system and not intended to be removed, or it is purchased or licensed from a person who is unrelated to the taxpayer and it is capitalized on the books of the taxpayer in accordance with GAAP. Expensed software is exempted.

25. Are leasehold improvements taxable?

Leasehold improvements are taxable. If you make improvements to a building that you do not own, please provide a detailed list of the improvements along with your listing. Examples of leasehold improvements are dropped ceilings, special lighting or lavatories.

26. Do I have to list my supplies?

Yes, you must list the supplies that you had on hand on January 1st. This would include office supplies, maintenance supplies, cleaning supplies, fuels of any kind, spare parts for equipment that are not held for resale. Supplies that are immediately consumed in the manufacturing process or that become a part of the property being sold, such as packaging materials or raw materials for a manufacturer, do not have to be listed.

27. I have a business in my home. Do I have to list it?

Yes. You must list your business if you are filing your business as income for Federal and State income tax purpose and receiving depreciation on your assets against your income.

28. How can I get a listing form to list my business?

Visit https://www.onslowcountync.gov/1042/Business-Listings to download a traditional or fill-in form.

29. How can I change my address for my business?

You may change your address by downloading the change of address form found on our  website at  https://www.onslowcountync.gov/FormCenter/Tax-Office-6/Address-Change-Request-103 or call our office at 910-989-2201.

30. I did not buy any new equipment or assets. Do I have to list?

Yes, a return is required to be filed with our office each year, listing the cost of all assets associated with your business even if no new assets were purchased.

31. What is Construction-in-Progress (CIP)?

CIP is an asset that is being constructed but has not been completed. It can be real or personal property; however, only list personal property associated with your business.

32. Can I fax my listing forms?

No, we do not accept faxed listing forms. You must mail the listing form in with the original signature.

33. Do I have to list farm equipment?

Yes, you will have to list farm equipment as Business Personal Property, because you are generating income from it. Garden tractors/riding lawn mowers used for personal use only are not required to be listed.

34. What do I have to list from my rental property?

You will have to list all appliances, such as dishwashers, stove/range refrigerators, washer/dryer, microwave oven, and household furnishing in your rental properties.

35. What are late listing penalties?

There is added a penalty of 10% for each listing period in which the property was not listed up to a maximum of 60%