A Business Personal Property Listing Form must be filed by all individuals, partnerships, corporations and associations who own or possess personal property that is used or held for a business purpose or for other income producing purposes (i.e. farming or rental property). Business personal property includes: machinery, equipment, computers, furniture, fixtures, leasehold improvements, farm machinery, supplies, airplanes, construction in progress, etc.
All business personal property listings are due on or before January 31 of each year and must be filed with the County Assessor’s Office. Any business that fails to list, under-lists or lists late is subject to penalties ranging from 10 to 60 percent.
Extensions to list business personal property may be granted if a request in writing is received prior to the close of the regular listing period, January 31. Historically, Cabarrus County has granted extensions until April 15.
NC General Statute 105-308 reads that “any person whose duty it is to list any property who willfully fails or refuses to list the same within the time prescribed by law shall be guilty of a Class 2 misdemeanor. The failure to list shall be prima facie evidence that the failure was willful.” Pursuant to NC General Statute 14-3, a Class 2 misdemeanor is punishable by fines and imprisonment for up to six months. Note: All businesses within our jurisdiction may be subject to audit for tax compliance.
Examples of Business Personal Property by Industry Type:
Restaurants & Caterers:: Ovens, refrigerators, freezers, tables, chairs, booths, counters, dishes, dinnerware, cash register, etc.
Gas Stations & Convenience Stores: Gas Pumps & tanks, display shelving, racks, tools, lifts, jacks, diagnostic equipment, air compressor, washing equipment, cash register, etc.
Retail Stores, Discounters, & Wholesalers: Display racks & cases, ladders, special lighting, cash registers, safe, alarms, etc.
Beach / Rental Homes, Apartments & Condos: The owner must list all furnishings, appliances, dishes, etc.
Auto Repair & Tire Dealers: Equipment, jacks, lifts, compressors, tools, balancers, displays, waiting room furniture & TV, etc.
Beauty & Barber Shops, Nail Salons, Service Companies: Chairs, dryers, sinks, stations, washers, cash register, etc.
Contractors, Subcontractors: Tools, equipment, backhoes, bobcats, ladders, small tools, etc.
Doctor & Dentist Offices: Tools, equipment, supplies, patient chairs and tables, files, furniture, drug samples, etc.
Landscape & Lawn Service Companies: Mowers, rakes, tools, sprayers, spreaders, etc.
Golf Courses: Maintenance equipment, rental carts, see Retail, see Restaurants, range balls, flags, tee markers, lockers, weight room equipment, spas, etc.
Hotels & Bed & Breakfast Inns: all room furnishings, appliances, TVs, safe, counters, etc.
Accounting, Insurance, Real Estate, & General Business Offices: Computers, furniture, telephone systems, filing systems, office machines, etc.
The penalty for failure to list and for under-listing is significant and may apply to the present year plus five back years. It is better to ask if you are not certain.
Affirmation of Taxpayer
A signature must be affixed to the form by a Principal Officer of the business or a full-time employee of the business, who has been officially empowered by a principal officer to sign the listing on his behalf. Listing forms that are unsigned or not signed by the proper authority will be rejected and could be subject to penalties. A Tax Representative or outside Accountant is not an authorized signatory. The form must be completed and returned to the Tax Assessor’s Office each year.
Each business activity operating within a city limit may be required to purchase from the city a privilege license to conduct such business. Sales and Use Tax information may be obtained from the NC Department of Revenue. Issues of incorporation / formation of a business entity may be addressed with the NC Department of the Secretary of State. The Department of Commerce Business Service Center is a good resource to contact for those starting a business in NC. Call 800-228-8443. Any business operating under an assumed name must file a Certificate of Assumed Name with the Register of Deeds.
Contact the County Assessor's Office at (704) 920-2176 to obtain listing forms and instructions, or download the listing letter, instructions and form from the Documents page on Tax Administration.