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PERSONAL PROPERTY ANNUAL REPORTY/RETURN FORM 5 REMINDERS
This form is similar to the Form 1; if you have questions concerning completion of this form, please refer to the instructions for
Form 1 located on our website, http://dat.maryland.gov and proceed to the Forms & Applications link . This return shall include
personal property owned by the entity as of January 1st, regardless of any fiscal year used by the entity.
PLEASE USE THE MARYLAND DEPARTMENT IDENTIFICATION NUMBER ASSIGNED TO YOUR ENTITY. If the ID
number is not known, please usehttps://egov.maryland.gov/BusinessExpress/EntitySearch . To ensure proper posting to your
account, please include your Department ID Number on your return and in all communications with the Department.
Laws relating to personal property are contained in the Tax-Property Article of the Annotated Code of Maryland. Please see
TP Article § 7-221.1, exempted computer hardware and software used in the processing of loans or deposits.
All information on pages 2 and 3 of this report and supporting schedules are held confidential by the Department and are not
available for public inspection. Page 1 is a public record. Tax-Property Article §2-212.
If you discontinued business prior to January 1st, notify the Department immediately, stating to whom and the date all
personal property was sold. If the business is sold, after January 1st and before July 1st, submit statement of sale, including
value of personal property, date of sale, and the name and address of the buyer on or before October 1st. Complete Form 21,
Report of Sale or Transfer, located on our website, https://dat.maryland.gov/Pages/sdatforms.aspx#BPP
This return must be signed by an officer of the entity. Make check for the $300 filing fee payable to Department of
Assessments and Taxation and note the Department ID Number on the check.
Personal Property Extensions must be requested on the Internet by April 15th; paper extensions are no longer accepted. Visit
http://pprextensions.dat.maryland.gov/
If you have questions contact the Business Personal Property Division
Phone: 410-767-1170, 888-246-5941 within Maryland
Email: SDAT.PersProp@Maryland.gov
PENALTY CLAUSES
DO NOT PAY PENALTIES AT THE TIME OF FILING THE RETURN
• LATE FILING PENALTIES. An entity which files an annual return postmarked after the due date of April 17th, will receive an initial penalty of 1/10 of
one percent of the county assessment, plus interest at the rate of two percent of the initial penalty amount for each 30 days or part thereof that the
return islate. Interest is calculated at 2% of the initial penalty for each 30 days or fraction of a 30-day period that the report is not submitted.
• DO NOT PREPAY AN ANTICIPATED PENALTY. THE DEPARTMENT WILL BILL THE ENTITY FOR ANY LATE FILING PENALTY OWED.
• Entities which fail to file this report will receive estimated assessments which will be twice the estimated value of the personal property owned. In
addition, failure to file this report will result in forfeiture of the Maryland charter or the right to do business in Maryland.
DEPRECIATION RATE CHART FOR PERSONAL PROPERTY
STANDARD DEPRECIATION RATE CATEGORY D 30% per annum**
CATEGORY A 10% per annum* Data processing equipment, canned software.
All property not specifically listed below. CATEGORY E 33 1/3% per annum*
SPECIAL DEPRECIATION RATES (Use of the ratesotherlistedassets.)below apply only to Blinds, carpets, only:drapes,rental stereoshades.andTheradiofollowingequipment,appliesrentalto equipmenttelevisions,rentalrental
the items specifically listed. Use Category A for companies
video cassette recorders and rental video tapes.
CATEGORY B 20% per annum* CATEGORY F 50% per annum*
Mainframe computers originally costing $500,000 or more. Pinball machines, rental tuxedos, rental uniforms, video games.
CATEGORY C 20% per annum* CATEGORY G 5% per annum***
Autos (unlicensed), bowling alley equipment, brain scanners, carwash Boats, ships, vessels, (over 100 feet).
equipment, fax machines, contractor’s heavy equipment (tractors, bulldozers),
hotel, motel, hospital and nursing home furniture and fixtures (room and lobby), LONG-LIVED ASSETS
MRI equipment, mobile telephones, model home furnishings, music boxes, Property determined by the Department to have an expected life in excess of 10
outdoor Christmas decorations, outdoor theater equipment, photocopy years at the time of acquisition shall be depreciated at an annual rate as
equipment, radio and T.V. transmitting equipment, rental pagers, rental soda specified by the Department.
fountain equipment, self-service laundry equipment, stevedore equipment, -
theater seats, trucks (unlicensed), vending machines (cigarette, candy, soft
drink), x-ray equipment. * Subject to a minimum assessment of 10% of the original cost.
** Subject to a minimum assessment of 5% of the original cost.
***Subject to a minimum assessment of 25% of the original cost
TPS_BPP Form 5 2023 Revised February 2023 Page 6 of 6 https://dat.maryland.gov
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