Georgia Personal Property Tax

Alerts and notices

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

Georgia forms and schedules

  • Form PT-50P - Tangible Personal Property Tax Return
  • Form PT-50A - Aircraft Personal Property Tax Return
  • Form PT-50M - Marine Personal Property Tax Return
  • Form PT-50PF - Application for Freeport Exemption Inventory

Depreciation treatments required for all GA PPT assets

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

Associations required for all GA PPT assets

  • Situs: Each asset must have Georgia selected in the Situs field to transfer to the Georgia Personal Property Tax return.
  • Location ID#: Enter the account number for the location filing the property tax return. A property tax return is created for each different account number entered. This information transfers to the Account Number field in Form PT-50P, PT-50A, or the PT-50M and the Map and parcel I.D. No. field on Form PT-50P. The maximum number of characters that transfer to the form is 20.
  • County - GA: Select the county the asset is located in from the drop-down list. A property tax return is created based on the unique combination of the account number and county entered. For Aircraft property type assets, information transfers to the Airport where aircraft primary home based - county field in Schedule E on Form PT-50A. For Marine - Boat property type assets, information transfers to the Georgia county where boat is functionally located 184 days a year or more field in Schedule D on Form PT-50M. The county entered also transfers to the assessor address on page 1 of Form PT-50P, PT-50A, or PT-50M.

    Note: The list for this association is maintained by UltraTax CS and Fixed Assets CS and cannot be modified.

  • PPT type - GA: Select the appropriate personal property type for the asset from the drop-down list. The property types and the forms they transfer to are listed in the following table.
    Property type Form
    Group 1 - 5-7 years Form PT-50P, Schedule A, Group 1
    Group 2 - 8-12 years Form PT-50P, Schedule A, Group 2
    Group 3 - 13+ years Form PT-50P, Schedule A, Group 3
    Group 4 - 1-4 years Form PT-50P, Schedule A, Group 4
    Aircraft Form PT-50A, Schedule E
    Avionics and extra equipment Form PT-50A, Schedule E
    Marine - Boat Form PT-50M, Schedule D
    Marine - Motor Form PT-50M, Schedule D
    Federal Documented Vessel Form PT-50M, Schedule D

    Note: The list for this association is 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 PT-50P, PT-50A, or PT-50M.

  • Orig acq cost (used): Enter the original cost of the asset when purchased by its original owner. If the asset is marked as used in the upper-right corner of the Asset Detail dialog, this amount transfers to Schedule A on Form PT-50P instead of the amount in the Cost/Basis field in the Book or GA treatment columns.
  • Orig date in svc (used): Enter the original date the asset was first placed in service by its original owner. This date transfers to the Year Acq field in Schedule A on Form PT-50P instead of the date entered in the Date acquired field on the Other tab of the Asset Detail dialog.
  • Fair market value: Enter the fair market value of the asset. This value will be used as the Taxpayer returned Value on Form PT-50P, PT-50A, and PT-50M.

Additional associations for GA PPT assets

The following property types require additional asset associations. For details on the required associations, click the appropriate property type.

Note: If a client does not have any of the following property types, you can turn off these associations. To do so, choose Setup > Associations, clear the checkbox next to an association, and click OK.

Enter the following asset associations for Georgia PPT Aircraft assets, for Form PT-50A (Aircraft Personal Property).

  • License/reg/cert#: Enter the airplane registration number. This information transfers to the Registration "N" # field in Schedule A and Schedule E on Form PT-50A and PT-50M. The maximum number of characters that transfer is 20.
  • Year built: Enter the year the asset was built. This information transfers to the Year Built field in Schedule A and Schedule E on Form PT-50A. The maximum number of characters that transfer is 4.
  • Serial #: Enter the asset's serial number. This information transfers to the Serial Number field in Schedule E on Form PT-50A. The maximum number of characters that transfer is 35.
  • Aircraft - Make/mfr: Enter the airplane's make or manufacturer. This information transfers to the MFG. Name: (Make) field in Schedule E on Form PT-50A. The maximum number of characters that transfer is 25.
  • Aircraft - Model: Enter the airplane's model or the mode number. This information transfers to the Model Name or # field in Schedule E on Form PT-50A. The maximum number of characters that transfer is 25.
  • Airframe hours: Enter the total hours on the airplane's airframe. This information transfers to the Total Hours on Airframe as of Jan 1 field in Schedule E on Form PT-50A. The maximum number of characters that transfer is 10.
  • Airport: Enter the asset's airport location. This information transfers to the Airport Where Aircraft Primary Home Based - City field in Schedule E on Form PT-50A. The maximum number of characters that transfer is 20.
  • Overhaul hrs btwn 1: Enter the time (in hours) between overhauls for the asset. This information transfers to the Hour Between Overhauls field in Schedule E on Form PT-50A. The maximum number of characters that transfer is 10.
  • Ovrhaul hrs from last: Enter the time (in hours) since the most recent overhaul. This information transfers to the Hours Since Last Overhaul field in Schedule E on Form PT-50A.
  • Overhaul type: Enter the type of overhaul most recently completed on the aircraft. Acceptable entries are major or top. When one of these options is entered, the appropriate checkbox is marked for the Last Overhaul field in Schedule D on Form PT-50A Schedule D.

Federal Documented Vessels

Enter the following asset associations for Georgia PPT Federal Documented Vessels assets, for Form PT-50M (Federal Documented Vessels Personal Property).

  • License/reg/cert#: Enter the registration number for an airplane. This information transfers to the Federal Documented Vessel Coast Guard Number field in Schedule A and Coast Guard Number field in Schedule D (Federal Documented Vessels) on Form PT-50A. The maximum number of characters that transfer is 20.
  • Length: Enter the length of the vessel. This information transfers to the Length field in Schedule D on Form PT-50M. The maximum number of characters that transfer is eight.
  • Year built: Enter the year the vessel was built. This information transfers to the Year Built field in the Federal Documented Vessels section in Schedule D on Form PT-50M. The maximum number of characters that transfer is 4.
  • Hull material: Enter the hull material of the vessel. This information transfers to the Hull Material field in Schedule D on Form PT-50M. The maximum number of characters that transfer is 20.
  • Home port: Enter the home port of the vessel. This information transfers to the Home Port field in Schedule D on Form PT-50M. The maximum number of characters that transfer is 20.
  • Marina/dock: Enter the current docked location of the vessel. This information transfers to the Where Docked field in Schedule D on Form PT-50M. The maximum number of characters that transfer is 20.
  • Vessel - Type/style: Enter the vessel's type. This information transfers to the Type and Use of Vessel field in Schedule D (Federal Documented Vessels) on Form PT-50M. The maximum number of characters that transfer is 25.
  • Vessel - Usage: Enter the vessel's use. This information transfers to the Type and Use of Vessel field in Schedule D (Federal Documented Vessels) on Form PT-50M. The maximum number of characters that transfer is 25.
  • Horsepower: Enter the vessel's horsepower. This information transfers to the Horsepower and Type of Engine field in Schedule D (Federal Documented Vessels) on Form PT-50M. The maximum number of characters that transfer is five.
  • Boat Motor - Type: Enter the vessel's engine type. This information transfers to the Horsepower and Type of Engine field in Schedule D (Federal Documented Vessels) on Form PT-50M. The maximum number of characters that transfer is 25.

Marine - Boat

Enter the following asset associations for Georgia PPT Marine - Boat assets, for Form PT-50M (Marine - Boat Personal Property). 

  • Boat - Make/mfr: Enter the manufacturer or make of the boat. This information transfers to the MFG. Name (Make) field in Schedule D on Form PT-50M. The maximum number of characters that transfer is 25.
  • Boat - Model: Enter the boat model name or number. This information transfers to the Model Name or # field in Schedule D on Form PT-50M. The maximum number of characters that transfer is 25.
  • Year built: Enter the year the asset was built. This information transfers to the Year Built field in the boat section in Schedule D on Form PT-50M. The maximum number of characters that transfer is 4.
  • Length: Enter the length of the boat. This information transfers to the Length field in Schedule D on Form PT-50M. The maximum number of characters that transfer is eight.
  • Hull material: Enter the hull material of the boat. This information transfers to the Hull Material field in Schedule D on Form PT-50M. The maximum number of characters that transfer is 13.
  • Boat - Type/style: Enter the boat type. Acceptable entries for this association for Georgia PPT are: inboard, outboard, inboard/outboard, sailboat, pontoon, houseboat, jet boat, or jet ski. When one of these options is entered, the appropriate checkbox is marked for the Check Type of Boat field in Schedule D on Form PT-50M. For other boat types, entering the boat type marks the Other checkbox and lists the boat type on the form. The maximum number of characters that transfer is 20.
  • License/reg/cert#: Enter the boat registration number.

Marine - Motor

Enter the following asset associations for Georgia PPT Marine - Motor assets, for Form PT-50M (Marine - Motor Personal Property).

  • License/reg/cert#: Enter the registration # of the boat the motor is installed in. This information transfers to Schedule D on Form PT-50M.
  • Year built: Enter the year the asset was built. This information transfers to the Year Built field in the motor section in Schedule D on Form PT-50M. The maximum number of characters that transfer is 4.
  • Boat - Motor ign type: Enter the motor's ignition type. Acceptable entries for this association for Georgia PPT are electrical start or recoil. When one of these options is entered, either the Electric Start or Recoil checkbox is marked in Schedule D on Form PT-50M.
  • Boat - Motor make: Enter the manufacturer or make of the motor. This information transfers to the MFG. Name (Make) field in Schedule D on Form PT-50M. The maximum number of characters that transfer is 25.
  • Boat - Motor model: Enter the motor model name or number. This information transfers to the Model Name or # field in Schedule D on Form PT-50M. The maximum number of characters that transfer is 25.
  • Horsepower: Enter the motor's horsepower. This information transfers to the Horsepower field in Schedule D on Form PT-50M. The maximum number of characters that transfer is five.

See also

Entering de minimis assets

UltraTax CS personal property tax returns