Are you in business? If so, you are required by the State of Missouri to file a business personal property return with the Assessor's office. If you did not file a return in the past, email firstname.lastname@example.org or call 573-243-2468 and one will be mailed to you for 2019.
Missouri Revised Statutes Section 137.122 states “to establish uniformity in the assessment of depreciable tangible personal property, each assessor shall use the standardized schedule of depreciation in this section to determine the assessed valuation of depreciable tangible personal property for the purposes of estimating the value of such property subject to taxation under this chapter”. “Depreciable tangible personal property in all recovery periods shall continue in subsequent years to have the depreciation factor last listed in the appropriate column so long as it is owned or held by the taxpayer.” Equipment is never fully depreciated for ad valorem tax purposes, and should never be reported with a zero value. If it is in use, it has a baseline value.
The depreciation schedules are based upon the IRS Modified Accelerated Cost Recovery System (MACRS). "Original cost" is the price paid for the item less freight, installation, or sales or use tax. Computer software readily available for purchase by the
general public should not be included. All other software costs should be declared in the appropriate schedule.
Personal property returns are due March 1. Missouri state law Section 137.345 requires a filing penalty be added to the tax bill of any taxpayer who neglects or refuses to file a personal property declaration.
Types of business personal property include, but is not limited to:
• Computers & Peripheral Equipment (desktops, keyboards. scanners. check swipes, telephone systems. etc.)
• Office Equipment (adding machines. answering machines. cash registers. photocopy machines. televisions. etc.)
• Consumer Utilized Equipment (bill change machines, vending machines, washers/dryers. etc.)
• Dies. Molds. & Jigs (assembly fixtures & jigs, bottle fixtures, punch dies, etc.)
• Furniture. Fixtures. & Signs (added light fixtures. animal cages. book cases. billiard tables. desks. etc.)
• Leasehold Equipment & Improvements (added light fixtures. removable walls. security systems. etc.)
• Machinery & Equipment (bench grinders. bulldozers. bobcats. concrete forms. ladders. forklifts. fitness equipment. etc.)