California Personal Property Tax

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The UltraTax/California Personal Property Tax application supports 1040, 1041, 1065, 1120, 1120S, and 990 entities. It prepares property tax statements from depreciation data entered in the Asset Detail dialog.

Note: The California State Board of Equalization does not allow personal property forms to be reproduced by application providers. You must complete and sign the original return. Returns generated by UltraTax CS are only for record-keeping purposes.

California forms and schedules (non-submittable, transcription required)

Depreciation treatments required for all CA PPT assets

The Book or CA treatment must be entered for California Personal Property Tax returns. By default, the Book treatment transfers to the return. However, the CA treatment will transfer to the return if the Complete return using the CA treatment within the Asset module field is marked on Screen Gen in the General folder for UltraTax/California Personal Property Tax.

Note: If you previously entered depreciation data for only the Tax treatment, you can copy asset data from the Tax treatment to the Book treatment or to the CA treatment.

Associations required for all CA PPT assets

Note: The associations listed above are maintained by UltraTax CS and Fixed Assets CS and cannot be modified. If the association fields are left blank or X - Exempt is selected, the asset will not transfer to Form 571-L, 571-F, or 571-A.

Associations required for the Agricultural Property Statement

Note: If a client is not completing the Agricultural Property Statement (Form 571-F or 571-A), you can turn off these associations. To do so, choose Setup > Associations, clear the checkbox next to an association, and click OK.

See also

Entering de minimis assets

UltraTax CS personal property tax returns

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