Form 762 Return of Tangible Personal Property, Machinery and Tools, and Merchant's Capital - for Local Taxation Only - Virginia

What Is Form 762?

This is a legal form that was released by the Virginia Department of Taxation - a government authority operating within Virginia. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 762?A: Form 762 is a return form for reporting tangible personal property, machinery and tools, and merchant's capital for local taxation purposes in the state of Virginia.

Q: Who needs to file Form 762?A: Individuals, businesses, and organizations that own tangible personal property, machinery and tools, or merchant's capital and are subject to local taxation in Virginia need to file Form 762.

Q: What information is required on Form 762?A: Form 762 requires details about the property being reported, including its description, acquisition date, and value. It also requires information about the owner, such as contact details and taxpayer identification number.

Q: When is the deadline for filing Form 762?A: The deadline for filing Form 762 varies by locality in Virginia. It is typically due by May 1st of each year, but it is advisable to check with your local tax office for the specific deadline.

Q: How can Form 762 be filed?A: Form 762 can be filed by mail or electronically, depending on the requirements of your local tax office. It is recommended to contact your local tax office to determine the preferred method of filing.

Q: Are there any penalties for not filing Form 762?A: Yes, failure to file Form 762 or filing it late can result in penalties and interest charges. The specific penalties can vary depending on the local tax regulations in your area.