The most useful item to aid in completing the form is an accurate and up to date asset listing. This list should include:

• The date of acquisition of the equipment
• The total cost (purchase price plus sales tax, freight and installation charges)
• Location of the equipment if you have multiple locations
• Disposal dates of equipment removed

Other records that could be helpful in completing the Business Property Statement are the Federal Income Tax Depreciation Form 4562 with depreciation schedule, and/or California State Tax Depreciation Form FTB 3885A, General Ledger or Trial Balance, Balance Sheet and Income Statement. Some business owners may have purchased an existing business. The information needed in that situation would be the purchase agreement or the escrow papers that would show the breakdown of the equipment, fixtures and leasehold improvements acquired through the purchase of the business.

If you are using any ‘personal’ equipment in your business, then yes, it must be reported. For example, persons working out of their homes must report personal desks, computers, etc.

Yes. Any equipment used for a home business is considered to be business personal property and must be reported on the BPS.

Where the equipment you use in your business was acquired as a gift, you may report your estimate of its current market value on the BPS (that is, what you think it would sell for in the open market). Enter that estimated value in the most current year’s cost line and add a note indicating that the entry is a value estimate.

Basically, inventory is an item subject to sale, rent or lease. If you are manufacturing a product, then the parts that go into the product are also inventory items. Supplies are things consumed in your normal course of business.

Sales tax is part of the original cost to the buyer, just like freight and installation costs, and must be reported as part of your total cost.

No. You must report personal property holdings in detail as requested or mandated. If nothing has changed from the prior year (no equipment was purchased or sold), then you should refer to your prior year’s BPS filing in order to be consistent in completing the current BPS. If you electronically filed using SDR or e-SDR last year, and choose to file electronically this year, all the prior year’s entries will be carried forward, saving you extra time and effort.

Yes. You still are required to complete the BPS even if you are an exempt organization. You should contact the Exemption Section at (510) 272-6587 to verify your exempt status or to file an exemption claim.

Yes, the statement is subject to audit by the Assessor as provided by the statutes and regulations set forth in the California Revenue and Taxation Code. To encourage accurate reporting of business personal property, the Assessor is required to audit a significant number of all businesses who own, claim, possess, or control assessable trade fixtures and business personal property.

You may obtain assistance in the following ways:
Telephone: Call (510) 272-3848, Monday through Friday, 9:00am to 4:30pm, except holidays.
In Person: 125 12th Street, Suite 320, Oakland. We’re located on the corner of Oak St and 12th St., across from the County Administration Building.