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Business Personal Property Return

  1. BP-842 (REV 2/02)

  2. IMPORTANT - A separate return must be filed for each location

  3. For Changes Only:

  4. For Office Use Only:

  5. I declare that this return, including any attachments, has been examined by me and to the best of my knowledge is a true and complete return, made in good faith, pursuant to the provisions of the Code of Laws, 1976 and amendments. Please return by April 30, to avoid penalties.

  6. If there is a change of Ownership/Mailng Address or Business Name/Location, please make those changes in the area blocked off and marked For Changes Only.

  7. A file number will be assigned to you by the County and appear as the property tax file number on the front of a preprinted return. Always refer to this number when writing to the County.

  8. Zeros have been preprinted in the cents column of this form, therefore, you must round off cents to the nearest whole dollar.

  9. Line 1: ALL costs associated with the acquisition of furniture, fixtures, and equipment that are used in the business; EXCLUDING licensed vehicles or aircraft.

  10. Line 2: Deduct the adjusted depreciation. The depreciation allowed is the same as used for income tax purposes, except the depreciation may not exceed 90% of the total acquisition cost for EACH item.

  11. Line 3: Line 1 minus Line 2. Total cost after depreciation.

  12. Line 4: Calculate 10% of the cost of all items that have been depreciated more than 90%.

  13. Line 5: Line 3 plus Line 4. Net book value used to establish assessment.

  14. FILING REQUIREMENTS: Any business which is open prior to December 31st must file a return by the last day of April. A 10% penalty will be applied to all returns postmarked after April 30th in accordance with S.C. Law, Section 12-37-800.

  15. THERE ARE NO PROVISIONS FOR EXTENSIONS FOR FILING BUSINESS Street FILING REQUIREMENTS PERSONAL PROPERTY RETURNS.

  16. Failure to File or List Property - Section 12-37-760 provides: If any person refuses or neglects to file a return, the County Auditor shall place a value on this property according to the provisions of this chapter

  17. Do you lease equipment from another company ?*

  18. Do you own equipment which is leased to other businesses?*

  19. The net depreciated value from line 5 (front of form) will be assessed by the County at the rate of 10.5%, and the district millage applied to determine your tax bill for the coming year. No further notice will be sent prior to the mailing of a tax bill by the county.

  20. ***All submissions will be submitted to Libby Parris at lparris@spartanburgcounty.org. Thank you.

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