INSTRUCTIONS
PLEASE READ BEFORE COMPLETING RETURN OF MACHINERY & TOOLS
1. COST: The original capitalized cost of all Machinery & Tools used in the manufacturing process as of January 1, 2025.
2. DISPOSALS: The original cost of all equipment disposed of. Deduct this equipment from the year it was acquired. For example, if equipment acquired in 2014 was disposed of in 2018, please indicate the original cost of the equipment that was sold on the 2014 disposal line. Also attach a listing of the disposed assets along with the costs to match column 2.
3. TOTAL BALANCE OR DIFFERENCE: Cost (a) minus disposals (b) equals total equipment owned January 1, 2025. (Figures in column 3 will be your figures for next year).
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.
5. Incomplete forms (any section not completed, not signed, or the words "SAME AS LAST YEAR", "NO CHANGE", "0", OR "SEE ATTACHED") will not be processed.
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.