Indiana Personal Property Tax

Alerts and notices

The UltraTax/Indiana 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.

Indiana forms and schedules

  • Form 103 - Short Form - Business Tangible Personal Property Return
  • Form 103 - Long Form - Business Tangible Personal Property Return
  • Form 103-T – Return of Special Tools
  • Form 102 - Farmer's Tangible Personal Property Assessment Return
  • Form 103-N – Schedule 1 – Information Return of Not Owned Personal Property
  • Form 106 - Schedule of Adjustments to Business Tangible Personal Property Return
  • Form 103-SR - Single Return
  • Form 104-SR - Single Return
  • Form 104 - Business Tangible Personal Property Return
  • *Form 103-O - Information Return of Owned Personal Property
  • *Form 103-P5 - Business Tangible Personal Property Depreciable Assets in Pool 5
  • *Form 103-P5/ERA - Schedule of Deduction from Assessed Value Pool 5 Property in Economic Revitalization Area
  • *Form 103-ERA - Schedule of Deduction from Assessed Value Personal Property in Economic Revitalization Area
  • *Form 103-P - Claim for Exemption of Air or Water Pollution Control Facilities

* Non-calculating form

Depreciation treatments required for all IN PPT assets

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

Associations required for all IN PPT assets

  • Situs: Each asset must have Indiana selected in the Situs field to transfer to the Indiana Personal Property Tax return.
  • Location ID#: Enter the Location ID # for the location filing the property tax return. A property tax return is created for each different Location ID number entered.
  • PPT type - IN: 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.

    Note: Associations and assets will not transfer to the Indiana Personal Property Tax return unless a selection is made in the County field on Screen INReturn in the Property folder of the Indiana PPT input screens.

    Property type Form
    Pool number 1 103-L
    Pool number 2 103-L
    Pool number 3 103-L
    Pool number 4 103-L
    Pool number 1 - Farm 102
    Pool number 2 - Farm 102
    Pool number 3 - Farm 102
    Pool number 4 - Farm 102
    X - Exempt Does not transfer
    X - Exempt stationary industrial air purification 103-L
    X - Exempt industrial waste control facilities 103-L
    X - Exempt vehicles subject to excise tax 103-L
    X - Exempt airplanes subject to excise tax 103-L
    X - Farm - Exempt stationary industrial air purification 102
    X - Farm - Exempt industrial waste control facilities 102
    X - Farm - Exempt vehicles subject to excise tax 102
    X - Farm - Exempt airplanes subject to excise tax 102

    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 102, 103, or 104.

Additional associations for IN PPT assets

Future disp date: Enter the future disposal date of the asset if it is disposed of after the end of the federal tax year. If the future disposal date is on or before March 1 of the next tax year, the asset will not transfer to the Indiana PPT return.

See also

Entering de minimis assets

UltraTax CS personal property tax returns

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