INSTRUCTIONS

PLEASE READ BEFORE COMPLETING BUSINESS PROPERTY FORM!

1. Even if you are exempt from paying a license fee, you are required to fill out this form if you conducted business as an individual, partnership, or corporation, or if you have leased business equipment in the City of Danville on January 1.  If your business is engaged in manufacturing, you must use the Machinery & Tools form.

2.  For each year, include the cost of ALL furnishings, equipment and tools owned on January 1, including all items previously reported (NOT JUST NEW OR ACQUIRED SINCE THE LAST FILING IF STILL OWNED).

3.  Report the original cost of equipment used in the business in the original cost column in the year of purchase; if property was free or at no cost, you must provide a fair market value in the assessed value column with "FMV" beside it.  On a separate sheet, attach the list of assets along with the cost to match the figures reported on the form, along with a list of any disposals to match the deductions on the form.

A. Schedule 1 is for computer equipment:  desktop and laptop computers, keyboards, monitors, printers, scanners, copiers, fax machines, credit/debit card payment devices, etc.

B. Schedule 2 is for all other tangible property.  Examples of business tangible personal property are handheld tools, power tools, desks, chairs, telephones, filing cabinets, bookshelves, pallet jacks, forklifts, skidders, hair dryers, wheelbarrows, scaffolding, ladders, signage, etc.  Do not list vehicles, trailers, etc. that are registered through the DMV.

C. Do not include any disposable items such as paper towels, pens, paint, stain, nails, ink/toner cartridges, or cleaning products.

4. Willful failure to file this return is a criminal offense in violation of Section 58.1-3518 of the Code of Virginia.  Taxpayers who are required to file a return but who fail to do so will be subject to a statutory assessment.

A. Incomplete forms (e.g., detailed items not listed, all sections not completed, not signed, or the words "SAME AS LAST YEAR", "NO CHANGE", "0", OR "SEE ATTACHED" will not be processed.

B. Attach a schedule for all tangible personal property LEASED, RENTED, OR BORROWED, provide the name and address of the owner/lessor, a description of the business property, and the beginning and ending dates of the lease, rented or borrowed items on a separate sheet.

5. The business owner must sign and date this form.

6. If business has closed, you must furnish the date it closed, sign, date and return this form to have account closed.

Any questions, please contact our office at 434-799-5145, or fax:  434-799-5148. 

This filing is subject to audit by the Commissioner of the Revenue's office at any time.

 

Dear Taxpayer:

In order for this office to accurately assess your Business Personal Property (furniture, fixtures, computers, peripherals, and equipment), we request that you complete this form and return it to us on or before March 1, 2025 in compliance with Danville City Code 37-4(b).  Thank you for your cooperation in this matter.

Yours very truly,

James M. Gillie
Commissioner of the Revenue

FOR OFFICE USE ONLY:_______________

ACCOUNT NUMBER:_________________

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TAX YEAR 2025
FOR FURNITURE, FIXTURES, COMPUTERS, PERIPHERALS, & EQUIPMENT
(DO NOT INCLUDE MOTOR VEHICLES)

In Schedule 1, report the total purchase cost by year of purchase of all computer equipment owned and located in Danville.

In Schedule 2, report the total purchase cost, by year of purchase, of all other tangible personal property (except computer equipment listed in Schedule 1 above) owned and located in Danville.

*All furniture, fixtures, and equipment, fully depreciated, regardless of date of purchase, on hand December 31, 2020, should be included in this column at original cost.  *Hold 20% furniture, fixtures, and equipment.  *Hold 10% computers and peripherals as long as they are used by the owner.

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I declare that the statements and figures submitted on this return are true, full, and correct to the best of my knowledge and belief.

MUST USE THIS FORM FOR RETURN