Indiana requires all businesses including any firm, company, partnership, association, corporation, churches or small business owner to complete personal property tax returns. Personal Property can be described as anything tangible such as tools, computers, printers, fax machines, desks, chairs, machinery, signage, display cases, security systems, farm equipment, etc. However, this does not include intangible property such as computer programs, inventory, or anything that has a license plate from the BMV (vehicles).
Please note that it is the owner's responsibility to obtain and file the appropriate forms. It is also the owner's responsibility to inform the Assessor's Office of your business closing (a note attached to your filing or a letter in place of a filing will suffice). Failure to notify the Assessor's Office will result in an accumulation of penalties until notfication is recieved.
Forms & Instructions
Form 104 - This form must be included with your filing of either the Form 103 Long, 103 Short or 102 Farms, whichever is applicable to your filing status. If filing on an aquisition cost of less than $40,000, please check the box at the top of this form that denotes you are seeking this exemption.
Form 102 (Farms) - Farmer's Tangible Personal Property Assessment Return
Form 103 Short - Business with assessed value under $150,000
Form 103 Long - Filing for more than $150,000 in Personal Property (only one copy is needed)
Please complete the above forms in their entirety. If you are filing on a total aquisition cost that is less than $40,000, check the applicable box at the top of the first page, and include your total acquisition cost (derived from completing page 2) on the provided line. Be sure to include the following items on your forms as ommiting these items could result in fines pursuant to Indiana law IC 6-1.1-37-7(d):
- Principal Business Codes (click here to find your NAICS Code)
- Federal ID Numbers
- Taxpayer Signature/Date
Note: Business owners can file one return for businesses with several locations in the same taxing district.
Click here to look up your taxing district.
Frequently Asked Questions
For more information about Personal Property, please see these fact sheets published by the DLGF:
Important Dates to Remember
- Personal Property Forms are due by May 15th.
- Personal Property forms indicating a total acquisition cost less than $40,000 that are filed after this date will incur a late filing penalty of $25.
- Personal Property forms indicating a total acquisition cost equal to or greater than $40,000 will incur a late filing penalty of $25 if received after May 15th but before June 14th.If received after the late filing June 14th deadline, you will also incur an additional 20% penalty.
- Amended returns to correct errors made on your original timely filed return must be received no later than May 15th of the following year.