Business personal property must be listed for tax purposes on an annual basis. Business personal property includes supplies, machinery, equipment, computers, furniture, fixtures, airplanes and farm machinery. Any income producing property is considered by North Carolina General Statutes as business personal property.
All business personal property that is subject to taxation must be listed within the time period of January 1 through January 31. Listing extensions for business personal property may be requested in writing prior to the close of the regular listing period. This request must be for a good cause and cannot be extended beyond March 15. Failure to list within the required period will result in a penalty of 10% of the total tax levied.
If you have received a listing form in the previous year for listing your business personal property, a listing form will automatically be mailed to you at the address of record as of January 1. If you do not receive a listing form and you have property which is required to be listed, it is your responsibility to obtain a listing form by contacting the Business Personal Property Section during regular office hours.
Those who own income producing farm equipment are required to list with the Business Personal Property Section.