Form 762 2018 Return of Tangible Personal Property, Machinery and Tools, and Merchants' Capital - Virginia

Form 762 or the "Return Of Tangible Personal Property, Machinery And Tools, And Merchants' Capital" is a form issued by the Virginia Department of Taxation.

Download a fillable PDF version of the Form 762 down below or find it on the Virginia Department of Taxation Forms website.

ADVERTISEMENT
762
2018
RETURN OF TANGIBLE PERSONAL PROPERTY, MACHINERY AND TOOLS,
F
O
AND MERCHANTS’ CAPITAL — FOR LOCAL TAXATION ONLY
R
M
V I R G I N I A
Please print
Your social security number or FEIN
Name
Name of spouse
Spouse’s social security number
Home address
Number and street or rural route
County or City
City, town or post office
State
ZIP Code
District, Ward or Town
PART I TANGIBLE PERSONAL PROPERTY
Business
Fair Market Value
1. Motor vehicles
Model
No. Cylinders
Air Cond.
Fair Market Value
* Leased vehicles for business use
Trade Name of
Date
Number
as Ascertained by
Use
Year
or
or
Yes or
as Listed by
Motor Vehicle
Acquired
Owned
Commissioner
Series
Tonnage
No
Taxpayer
do not qualify for the personal property tax reduction.
Yes or No
of the Revenue
(a)
Automobiles (not daily rental passenger cars)
VIN:
VIN:
(b) Motorcycles
(c) Autocycles
(d) Trucks
(e) Tractors and trailers
(f) Antique motor vehicles
(g) All other motor vehicles and motor homes
2. Manufactured (mobile) offices, campers, travel trailers and recreational camping trailers
Length and
Date
Number
Manufacturer
Year
Model or Series
Cost
Width
Acquired
Owned
3. Manufactured (mobile) homes (see instructions on back)
Length and
Date
Number
Manufacturer
Year
Model or Series
Cost
Width
Acquired
Owned
4.
Boats and Watercraft (Assess the value of all
Over
Under
Length and
Date
Number
Manufacturer
Year
Type
Cost
property which pertains to craft (§58.1-3500))
5 Tons
5 Tons
Horsepower
Acquired
Owned
. . . .
(a) Used for recreation and pleasure only
. . . . . . . . . . . . . .
(b) Boat trailers, etc.
. . . . . . . . . . . . . . . . . . . .
(c) Other
5. Aircraft
Model or
Date
Number
Manufacturer
Year
Cost
Series
Acquired
Owned
(a) Aircraft owned by scheduled air carriers with seating capacity of
no more than 50 persons . . . . . . . . . . . . . . . . . . . . . . . . .
(b) All other aircraft and flight simulators . . . . . . . . . . . . . . . . . . .
6.
Motor vehicles owned/leased by auxiliary police officers, members or auxiliary members of a volunteer rescue squad, fire department or
sheriff’s department or uniformed members of the Virginia Defense Forms (§§58.1-3506(15), (16), (20), (32), and (44)) . . . . . . . . . . . .
7. Motor vehicles owned by a nonprofit organization (§58.1-3506(17)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8. Heavy construction machinery (attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9. Business furniture and listings not returnable as part of merchants’ capital or if not defined as intangible personal property (§58.1-1100). . . . . . . . . . .
10. Furniture and office equipment, including books, used in practicing a profession . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11. Tools, hand or power, including woodworking equipment and metal lathes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12.
Farming implements, including gas engines, electric motors, etc., threshing machines, corn huskers, feed cutters, combines, harvesters,
blowers, plows, harrows, rakes, mowers, animal drawn vehicles, peanut pickers, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13. Tangible personal property used in research and development business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14. Tangible personal property, leased, loaned or otherwise made available from federal, state or local government . . . . . . . . . . .
15. Tangible personal property consisting of programmable computer equipment and peripherals used in business . . . . . . . . . . .
16. Miscellaneous and incidental property used in a trade or business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Value as
Date
Original
Value
Ascertained by
PART II MACHINERY AND TOOLS (see instructions on Page 2)
Acquired
Capitalized
as Listed by
Commissioner
of the Revenue
Cost
Taxpayer
17. Machinery and tools . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18. Energy conversion equipment of MANUFACTURERS (§58.1-3506) . . . . . . . . . . . . . . . . . . . . . . . . .
Value as
PART III MERCHANTS’ CAPITAL (see instructions on Page 2)
Value
Ascertained by
as Listed by
Commissioner
Taxpayer
of the Revenue
19. Inventory of stock on hand . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20. Daily rental passenger cars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21. All other taxable merchants’ capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
22. Total taxable merchants’ capital (add lines 19,20 and 21) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
PART IV OTHER TANGIBLE PERSONAL PROPERTY
23. Total amount of Part IV from line 31 on the back of the return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24. All other tangible personal property not specifically enumerated on this return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25. Total (add lines 1-18, 22, 23 and 24) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
762
2018
RETURN OF TANGIBLE PERSONAL PROPERTY, MACHINERY AND TOOLS,
F
O
AND MERCHANTS’ CAPITAL — FOR LOCAL TAXATION ONLY
R
M
V I R G I N I A
Please print
Your social security number or FEIN
Name
Name of spouse
Spouse’s social security number
Home address
Number and street or rural route
County or City
City, town or post office
State
ZIP Code
District, Ward or Town
PART I TANGIBLE PERSONAL PROPERTY
Business
Fair Market Value
1. Motor vehicles
Model
No. Cylinders
Air Cond.
Fair Market Value
* Leased vehicles for business use
Trade Name of
Date
Number
as Ascertained by
Use
Year
or
or
Yes or
as Listed by
Motor Vehicle
Acquired
Owned
Commissioner
Series
Tonnage
No
Taxpayer
do not qualify for the personal property tax reduction.
Yes or No
of the Revenue
(a)
Automobiles (not daily rental passenger cars)
VIN:
VIN:
(b) Motorcycles
(c) Autocycles
(d) Trucks
(e) Tractors and trailers
(f) Antique motor vehicles
(g) All other motor vehicles and motor homes
2. Manufactured (mobile) offices, campers, travel trailers and recreational camping trailers
Length and
Date
Number
Manufacturer
Year
Model or Series
Cost
Width
Acquired
Owned
3. Manufactured (mobile) homes (see instructions on back)
Length and
Date
Number
Manufacturer
Year
Model or Series
Cost
Width
Acquired
Owned
4.
Boats and Watercraft (Assess the value of all
Over
Under
Length and
Date
Number
Manufacturer
Year
Type
Cost
property which pertains to craft (§58.1-3500))
5 Tons
5 Tons
Horsepower
Acquired
Owned
. . . .
(a) Used for recreation and pleasure only
. . . . . . . . . . . . . .
(b) Boat trailers, etc.
. . . . . . . . . . . . . . . . . . . .
(c) Other
5. Aircraft
Model or
Date
Number
Manufacturer
Year
Cost
Series
Acquired
Owned
(a) Aircraft owned by scheduled air carriers with seating capacity of
no more than 50 persons . . . . . . . . . . . . . . . . . . . . . . . . .
(b) All other aircraft and flight simulators . . . . . . . . . . . . . . . . . . .
6.
Motor vehicles owned/leased by auxiliary police officers, members or auxiliary members of a volunteer rescue squad, fire department or
sheriff’s department or uniformed members of the Virginia Defense Forms (§§58.1-3506(15), (16), (20), (32), and (44)) . . . . . . . . . . . .
7. Motor vehicles owned by a nonprofit organization (§58.1-3506(17)) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8. Heavy construction machinery (attach schedule) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9. Business furniture and listings not returnable as part of merchants’ capital or if not defined as intangible personal property (§58.1-1100). . . . . . . . . . .
10. Furniture and office equipment, including books, used in practicing a profession . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11. Tools, hand or power, including woodworking equipment and metal lathes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12.
Farming implements, including gas engines, electric motors, etc., threshing machines, corn huskers, feed cutters, combines, harvesters,
blowers, plows, harrows, rakes, mowers, animal drawn vehicles, peanut pickers, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13. Tangible personal property used in research and development business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14. Tangible personal property, leased, loaned or otherwise made available from federal, state or local government . . . . . . . . . . .
15. Tangible personal property consisting of programmable computer equipment and peripherals used in business . . . . . . . . . . .
16. Miscellaneous and incidental property used in a trade or business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Value as
Date
Original
Value
Ascertained by
PART II MACHINERY AND TOOLS (see instructions on Page 2)
Acquired
Capitalized
as Listed by
Commissioner
of the Revenue
Cost
Taxpayer
17. Machinery and tools . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18. Energy conversion equipment of MANUFACTURERS (§58.1-3506) . . . . . . . . . . . . . . . . . . . . . . . . .
Value as
PART III MERCHANTS’ CAPITAL (see instructions on Page 2)
Value
Ascertained by
as Listed by
Commissioner
Taxpayer
of the Revenue
19. Inventory of stock on hand . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20. Daily rental passenger cars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21. All other taxable merchants’ capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
22. Total taxable merchants’ capital (add lines 19,20 and 21) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
PART IV OTHER TANGIBLE PERSONAL PROPERTY
23. Total amount of Part IV from line 31 on the back of the return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24. All other tangible personal property not specifically enumerated on this return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25. Total (add lines 1-18, 22, 23 and 24) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
FORM 762 (2018)
Page 2
Fair Market Value
Fair Market Value
as Ascertained by
PART IV OTHER TANGIBLE PERSONAL PROPERTY
as Listed by
Commissioner
Taxpayer
of the Revenue
26. (a) Horses, mules and other kindred animals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) Cattle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c) Sheep and goats . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(d) Hogs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(e) Poultry — chickens, turkeys, ducks, geese, etc. . . . . . . . . . . . . . . . . . . . . . . . . . .
(f) Equipment used by farmers or cooperatives to produce ethanol derived primarily from farm products . . . . . . . . . . . . . . . . . .
(g) Grains and other feeds used for the nurture of farm animals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(h) Grain, tobacco and other agricultural products in the hands of a producer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(i) Equipment and machinery used by farm wineries in the production of wine . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
27. Felled timber, ties, poles, cord wood, bark and other timber products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
28. (a) Refrigerators, deep freeze units, air conditioners and automatic refrigerating machinery . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) Vacuum cleaners, sewing machines, washing machines, dryers and all other household machinery . . . . . . . . . . . . . . . . . . .
(c) Pianos and organs, television sets, radios, phonographs and records and all other musical instruments . . . . . . . . . . . . . . . .
(d) Watches and clocks and gold and silver plates and plated ware . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(e) Oil paintings, pictures, statuary, and other works of art $ _______ books $ ________
. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(f) Diamonds, cameos and other precious stones and precious metals used as ornaments or jewelry . . . . . . . . . . . . . . . . . . . .
(g) Sporting and photographic equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(h) Firearms and weapons of all kinds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(i) Bicycles and lawn mowers, hand or power . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(j) Household and kitchen furniture (state number of rooms ______ ) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(k) All-terrain vehicles, mopeds, and off-road motorcycles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(l) Electronic communications and processing devices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
29. Seines, pound nets, fykes, weirs and other devices for catching fish . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
30. Poles, wires, switchboards, etc., telephone or telegraph instruments, apparatus, etc., owned by any person, firm, association or company not incorporated .
31. Toll bridges, turnpikes and ferries (except steam ferries owned and operated by chartered company) . . . . . . . . . . . . . . . . . . . .
32. Total of Part IV (add lines 26 through 31 and enter on line 23) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
GENERAL INSTRUCTIONS:
Complete Form 762, reporting property which you owned on January 1, 2018, then file it with the Commissioner of
the Revenue of the County or City generally on or before May 1, 2018. Since some localities have due dates other than May 1, you may want to
contact your local office to be sure of the proper due date. Write the word “None” opposite each item of property which you do not own. No property is
assessable as tangible personal property if defined by Va. Code § 58.1-1100 as intangible personal property. If additional space is needed, attach a
separate schedule. Note: If your motor vehicle is considered by State Law to have a business usage, it does not qualify for Car Tax Relief. Your vehicle
is classified as having business usage if any of the following circumstances apply: 1) more than 50% of the mileage for the year was reported as a
business expense for Federal Income Tax purposes or reimbursed by an employer; 2) more than 50% of the depreciation associated with the vehicle
is deducted as a business expense for Federal Income Tax purposes; 3) the cost of the vehicle is expensed pursuant to Section IRC § 179; or 4) the
vehicle is leased by an individual and the leasing company pays the tax without reimbursement from the individual.
DEFINITION OF MANUFACTURED HOMES (ALSO KNOWN AS MOBILE HOMES) FOR PART I, LINE 3: “Manufactured home” means a structure
subject to federal regulation, which is transportable in one or more sections; is eight body feet or more in width and 40 body feet or more in length in the
traveling mode, or is 320 or more square feet when erected on site; is built on a permanent chassis; is designed to be used as a single-family dwelling,
with or without a permanent foundation, when connected to the required utilities; and includes the plumbing, heating, air-conditioning, and electrical
systems contained in the structure (Va. Code § 36-85.3). “Manufactured homes” are also known as “mobile homes.”
INFORMATION FOR MISCELLANEOUS AND INCIDENTAL PROPERTY USED IN A TRADE OR BUSINESS FOR PART I, LINE 16: In order to be
considered miscellaneous and incidental property used in a trade or business, the property must not be classified as machinery and tools, merchants’
capital or short-term rental property, and have an original cost of less that $250.
INFORMATION FOR PART II, MACHINERY AND TOOLS: If you are engaged in a manufacturing, mining, water well drilling, processing or repro-
cessing, radio or television broadcasting, dairy, dry cleaning or laundry business, report all machinery and tools used in manufacturing, mining, water
well drilling, processing or reprocessing, radio or television broadcasting, dairy, dry cleaning or laundry business, such machinery and tools being
segregated by Va. Code § 58.1-3507, as amended for local taxation exclusively, and each county, city and town being required to make a separate
classification for all such machinery and tools.
INFORMATION FOR PART III, MERCHANTS’ CAPITAL: If you are a merchant and if locality taxes the capital of merchants, report all other taxable
personal property of any kind whatsoever, except money on hand and on deposit and except tangible personal property not offered for sale as mer-
chandise, which tangible personal property should be reported as such on front of this return under PART I.
FOR EXECUTORS, ADMINISTRATORS, TRUSTEES, COMMITTEES, GUARDIANS AND OTHER FIDUCIARIES
If this is the return of tangible personal property, machinery and tools, or merchants’ capital in the hands of an executor, administrator, trustee, committee,
guardian or other fiduciary, such fiduciary must complete so much of both pages of this return as pertains to such property and, in addition, supply the
information called for below:
1. Character of Fiduciary:
Executor
j
Administrator
j
Trustee
j
Committee
j
Guardian
j
Other
j
________________
Specify
2. N ame of Estate, Trust or Ward ________________________________________________________________________________________________
DECLARATION OF TAXPAYER
I declare that the statement and figures submitted on both pages of this return are true, full and correct to the best of my knowledge and belief. I
certify that unless otherwise indicated as business use, the vehicles listed herein are for personal use.
NOTE — It is a misdemeanor for any person willfully to subscribe a return which he does not believe to be true and correct as to every material matter
(Va. Code § 58.1-11).
_______________________________________________________________
_________________________________
________________________________________________
(Signature of Taxpayer)
(Date)
(Taxpayer’s Phone Number)
Executors, administrators, trustees and other fiduciaries must also supply information called for on this return.

Download Form 762 2018 Return of Tangible Personal Property, Machinery and Tools, and Merchants' Capital - Virginia

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