Due Soon: DC Personal Property Tax Forms

It is almost that time of year again! All individuals, partnerships, executors, administrators, etc. that own or hold personal property in the District must file a District of Columbia personal property tax return (FP-31) by Monday, July 31st.

What constitutes DC personal property?

According to the general instructions for FP-31, DC personal property includes “used or available for use in DC in a trade or business, whether or not operated for profit; and kept in storage, held for rent or lease or similar business arrangement with third parties, government agencies or non-profit entities.”

What does your accountant need to know in order to file the FP-31 for you?

In order to prepare a DC personal property tax form, the following information will be needed:

  1. A list of fixed asset additions from 1/1/2017-6/30/2017
  2. A list of fixed asset disposals from 1/1/2017-6/30/2017
  3. An estimate amount of supplies on hand at 6/30/2017
  4. Do you have any leased property? If so, what is the monthly rent?
    • If already an existing client, you should notify your accountant of any possible changes to any leases you hold.

For more on DC personal property see 2018 FP-31 District of Columbia (DC) Personal Property Tax Forms and Instructions. For more in-depth explanations as to what is included for additions, disposals, supplies and leased property for a personal property return see pages 4 and 5 of the link above.

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