LAT 5 FORM INSTRUCTIONS
(DUE APRIL 1)
SELF REPORTING - PERSONAL PROPERTY REPORT
1. Fill in the blanks with the appropriate information pertaining to your business:
- NAME/ADDRESS (Indicate Any Changes) - strike through any incorrect information printed here and then print the correct name and/or correct mailing address of the business.
- LOCATION ADDRESS - the physical address of the business as listed with the post office or used for parcel delivery service.
- LOCATION Zip - the zip code that your business is located in.
- OWNER/CONTACT PERSON - list the person and his/her phone number the Assessor’s office should contact with any questions.
- TYPE OF BUSINESS - please specify the primary type of work performed by your company and in what industry.
SECTION 1 – INVENTORIES/ MERCHANDISE
1. In the column labeled “MERCHANDISE” list the inventory at cost for each month the business was operating in the prior year (the report is filed in arrears-meaning the merchandise from the previous year).
2. Continue to list the values of material in your possession at cost for each column - RAW MATERIALS, WORK IN PROGRESS, FINISHED GOODS, and SUPPLIES.
3. Add the values for each category for the month of January and put the total of these values in the TOTAL column. Continue this process for each month.
4. Add your monthly totals that are in the TOTAL column to find your grand total and put this grand total figure in the box next to GRAND TOTAL.
5. Determine your average by dividing the grand total by the total number of months reporting. For example, if you have monthly inventory figures, then divide the GRAND TOTAL by 12.
NOTE:For SECTIONS 2, 3 & 4 below, an itemized depreciation schedule, including fully depreciated assets, should accompany this report. If one is unavailable, a complete listing of all assets used in the operation of your business should be listed individually by describing item, its year of acquisition and its original acquisition cost. You will probably need to provide this information on a separate sheet of paper.
SECTION 2 - FURNITURE & FIXTURES
1. In the YEAR OF ACQUISITION column put the year assets were purchased (including all depreciated assets).
You may group furniture by year of acquisition (it is not necessary to list each item).
2. In the ACQUISITION COST column put the purchase amount of the asset or total per year (the green section is for assessor’s use only).
SECTION 3 - MACHINERY AND EQUIPMENT
1. Repeat the instructions for Section 2, this time listing any machinery and equipment.
SECTION 4 - LEASEHOLD IMPROVEMENTS AND MISCELLANEOUS PROPERTY
1. Repeat the instructions for Section 2, this time listing any leasehold improvements and miscellaneous property. Please describe the leasehold improvements. Leasehold is any improvement made to a building that is being leased or rented by the business owner such as painting, electrical, or any other renovations. Miscellaneous property includes such items as signs, portable buildings, etc.
SECTION 5 - CONSIGNED GOODS, LEASED, LOANED OR RENTED EQUIPMENT, FURNITURE, ETC.
1. List any consigned goods, leased, loaned or rented equipment, furniture, etc. that you use in this business.
2. LESSOR: List the names of the companies from whom you lease, rent or have consigned goods.
3. LESSOR ADDRESS AND PHONE #: List the addresses and phone numbers of the Lessors.
4. CONSIGNED GOODS: State if the item is a consigned good or not.
NOTE:To avoid a dual assessment, all leased equipment and consigned goods must be reported. The owner’s complete mailing address and phone number must be included.
SIGNATURE AND VERIFICATION
This form MUST be signed by both the taxpayer and the preparer and sent back to the East Baton Rouge Parish Assessor’s office.
The form does not need to be notarized.
If you have any questions please call (225) 389-3920 ext. 2.