Form A-5 Manufacturers' Inventory Report Form - Arkansas

Form A-5 is a Arkansas Assessment Coordination Department - issued form also known as the "Manufacturers' Inventory Report Form".

A PDF of the latest Form A-5 can be downloaded below or found on the Arkansas Assessment Coordination Department Forms and Publications website.

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Manufacturers' Inventory Report
County of __________________________
State of Arkansas
Taxpayer Number: __________________________
School District: ________________________
Name of Business:
___________________________________________________________________
Mailing Address:
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
Local Address:
___________________________________________________________________
Business Type: _____________________________________
SIC#: ______________________________
Manager/Contact: ______________________________
Telephone: __________________________
This form is for the purpose of allowing County Assessors to determine the extent of assessment of manufacturers' raw materials, work-in-progress,
and finished goods inventories. The portion of the average value of these inventories sold in Arkansas are assessable. The contents of this form must be
attested by the appropriate individual or corporate officer, and are subject to audit and verification.
Instructions for Completion: Under Arkansas law, the value of raw materials, work-in-progress, and finished goods inventories are assessed based on
the annual average level from the year prior to the year of assessment. The cost basis for raw material value should reflect the sum of acquisition cost,
freight, overhead, and any other costs necessary to bring the material to a condition of utility to the owner. The cost basis for work-in-progress should
reflect the total cost of raw materials plus labor, machine time, and any additional overhead or costs necessary to reflect its state as work-in-progress.
The cost basis for finished goods should reflect the total cost of raw materials plus labor, machine time, and any additional overhead or costs necessary
to produce these finished goods. Please note that the LIFO and FIFO inventory cost basis are unacceptable, but the Weighted Average inventory cost
basis is appropriate. All supplies which are not consumed and are not considered raw materials are considered taxable in Arkansas.
Line:
Raw Materials:
Annual Average Raw Materials
$____________________________________
1
Work-in-Progress:
Annual Average WIP
$____________________________________
2
Finished Goods:
Annual Average Finished Goods
$____________________________________
3
Supplies:
Annual Average Not Consumed in WIP
$____________________________________
4
Sales:
Sales in Arkansas at Cost
$____________________________________
5
Sales outside Arkansas at Cost
$____________________________________
6
Total Goods Sold (Line 5 + Line 6)
$____________________________________
7
I hereby swear or affirm that this is a true and complete list of all inventory that, by law, I am required to list for taxation and/or
request for exclusion from taxation, and that the values rendered are true and accurate to the best of my knowledge.
Property Owner/Representative: ____________________________________________
Date: ______________________
Title/Position:
____________________________________________
__________________________________________________________________________________________________________
FOR ASSESSOR USE ONLY
Percent Sold in Arkansas (Line 5 / Line 7):
____________________________________
% 8
Assessable Inventory:
a)Raw Material (Line 1 X Line 8):
$_____________________________________
9
b)Work-in-Progress (Line 2 X Line 8):
$_____________________________________
10
c)Finished Goods (Line 3 X Line 8):
$_____________________________________
11
d)Supplies (Line 4):
$_____________________________________
12
Total Assessable Inventory (Sum of Lines 9 through 12):
$_____________________________________
Assessor/Deputy: _______________________________________________________
Date: ______________________
This form prepared in accordance with Act 153 of 1955, Act 621 of 1987, Act 35 of 1988, and Act 1294 of 1997.
Manufacturers' Inventory Report
County of __________________________
State of Arkansas
Taxpayer Number: __________________________
School District: ________________________
Name of Business:
___________________________________________________________________
Mailing Address:
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________
Local Address:
___________________________________________________________________
Business Type: _____________________________________
SIC#: ______________________________
Manager/Contact: ______________________________
Telephone: __________________________
This form is for the purpose of allowing County Assessors to determine the extent of assessment of manufacturers' raw materials, work-in-progress,
and finished goods inventories. The portion of the average value of these inventories sold in Arkansas are assessable. The contents of this form must be
attested by the appropriate individual or corporate officer, and are subject to audit and verification.
Instructions for Completion: Under Arkansas law, the value of raw materials, work-in-progress, and finished goods inventories are assessed based on
the annual average level from the year prior to the year of assessment. The cost basis for raw material value should reflect the sum of acquisition cost,
freight, overhead, and any other costs necessary to bring the material to a condition of utility to the owner. The cost basis for work-in-progress should
reflect the total cost of raw materials plus labor, machine time, and any additional overhead or costs necessary to reflect its state as work-in-progress.
The cost basis for finished goods should reflect the total cost of raw materials plus labor, machine time, and any additional overhead or costs necessary
to produce these finished goods. Please note that the LIFO and FIFO inventory cost basis are unacceptable, but the Weighted Average inventory cost
basis is appropriate. All supplies which are not consumed and are not considered raw materials are considered taxable in Arkansas.
Line:
Raw Materials:
Annual Average Raw Materials
$____________________________________
1
Work-in-Progress:
Annual Average WIP
$____________________________________
2
Finished Goods:
Annual Average Finished Goods
$____________________________________
3
Supplies:
Annual Average Not Consumed in WIP
$____________________________________
4
Sales:
Sales in Arkansas at Cost
$____________________________________
5
Sales outside Arkansas at Cost
$____________________________________
6
Total Goods Sold (Line 5 + Line 6)
$____________________________________
7
I hereby swear or affirm that this is a true and complete list of all inventory that, by law, I am required to list for taxation and/or
request for exclusion from taxation, and that the values rendered are true and accurate to the best of my knowledge.
Property Owner/Representative: ____________________________________________
Date: ______________________
Title/Position:
____________________________________________
__________________________________________________________________________________________________________
FOR ASSESSOR USE ONLY
Percent Sold in Arkansas (Line 5 / Line 7):
____________________________________
% 8
Assessable Inventory:
a)Raw Material (Line 1 X Line 8):
$_____________________________________
9
b)Work-in-Progress (Line 2 X Line 8):
$_____________________________________
10
c)Finished Goods (Line 3 X Line 8):
$_____________________________________
11
d)Supplies (Line 4):
$_____________________________________
12
Total Assessable Inventory (Sum of Lines 9 through 12):
$_____________________________________
Assessor/Deputy: _______________________________________________________
Date: ______________________
This form prepared in accordance with Act 153 of 1955, Act 621 of 1987, Act 35 of 1988, and Act 1294 of 1997.

Download Form A-5 Manufacturers' Inventory Report Form - Arkansas

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