Available in All Rhode Island Counties
Taxscribe transforms tax management for business owners and CPAs in Rhode Island, streamlining the shift from paper forms to efficient online filing. Offering advanced user management, easy data import, intuitive form completion, smooth submission processes, and comprehensive analytics, Taxscribe makes tax filing easier. It ensures businesses of every scale effortlessly navigate Rhode Island’s tax compliance requirements.
Available Forms:
- - Tangible Personal Property Annual Return
What is Tangible Personal Property?
Tangible personal property is business property other than real estate that has value by itself. It includes such things as: furniture, fixtures, tools, machinery, signs, equipment, leasehold improvements, and leased equipment. It also includes any other equipment used in business or industry.
Tangible personal property is business property other than real estate that has value by itself. It includes such things as: furniture, fixtures, tools, machinery, signs, equipment, leasehold improvements, and leased equipment. It also includes any other equipment used in business or industry.
Who should file a Personal Property Return?
Anyone in possession of assets on December 31, who has a proprietorship, partnership, corporation, or is a self-employed agent or contractor, must file a return each year.
Anyone in possession of assets on December 31, who has a proprietorship, partnership, corporation, or is a self-employed agent or contractor, must file a return each year.
When you should file:
Taxable personal property must be declared to the Assessor between December 31 and January 31 of any given year.
Taxable personal property must be declared to the Assessor between December 31 and January 31 of any given year.
Extensions:
If a taxpayer is unable to make such a declaration within the prescribed time, they may submit written notice prior to January 31 of intention to submit a declaration by March 15.
If a taxpayer is unable to make such a declaration within the prescribed time, they may submit written notice prior to January 31 of intention to submit a declaration by March 15.
Exemptions:
All Tangible Property Accounts will have the first $50,000 in assessed value exempt from the Tangible Tax. However, all businesses will still be required to file the Annual Declaration of Value regardless of asset value.
All Tangible Property Accounts will have the first $50,000 in assessed value exempt from the Tangible Tax. However, all businesses will still be required to file the Annual Declaration of Value regardless of asset value.
Extensions:
You may extend the deadline if, by April 15, the assessor receives your written request AND $20 for a 10-day extension, or $40 for a 20-day extension.
You may extend the deadline if, by April 15, the assessor receives your written request AND $20 for a 10-day extension, or $40 for a 20-day extension.
Important Notes:
- Failure to file within the prescribed time may eliminate the right to appeal.
- All questions should be directed to your local assessor.
- Failure to file within the prescribed time may eliminate the right to appeal.
- All questions should be directed to your local assessor.
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