Business Personal Property is the furniture, fixtures and equipment used to operate your business. Basically if you file a Schedule C (Sole Proprietor), or a corporation tax return for income tax purposes, then a Business Property Tax Return applies.
There are three types of Business Personal Property Returns:
1. Business Personal Property Return Form (Oconee County Auditor)
You file this return through County Auditor’s Office. This form pertains to businesses tied to professional or service type businesses. The taxpayer must file a return on or before April 30 of each year you own the business. Contact number (864) 638-4158.
2. Business Personal Property Return PT-100 (State of SC)
You file this form through the Department Of Revenue. This form pertains to businesses collecting sales tax or miscellaneous retail. Please note for this type of return, any business which opens after the end of the accounting period must file an initial return as of December 31st with the return being due the last day of April. After the initial return, businesses are required to file on or before the last day of the fourth month after the close of the accounting period regularly employed by the taxpayer, for income tax purposes. Contact number (803) 898-5222.
3. Business Personal Property Return PT-300 (State of SC)
You file this form through the Department Of Revenue. This form pertains to manufacturing facilities and those listed below under State Return – PT – 300. Contact number (803) 898-5222.
When a business fails to file a return by the due date it can result in late fees and penalties.
Appealing Period- Claims for credits or refunds must be filed within three years from the time the return was filed, or two years from when the tax was due, whichever is later