Puerto Rico Personal Property Tax

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.

Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.

The UltraTax/Puerto Rico Personal Property Tax application supports 1065 and 1120 entities. It prepares the personal property tax returns from depreciation data entered in the Asset Detail dialog.

Puerto Rico forms and schedules

Depreciation treatments required for all PR PPT assets

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

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 PR treatment.

Associations required for all PR PPT assets

Associations required for PR PPT assets

See also

Entering de minimis assets

UltraTax CS personal property tax returns

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