Maryland Personal Property Tax

Alerts and notices

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

Maryland forms and schedules

  • Form 1 - Personal Property Return
  • *Form AT3-45 - Transfer, Sale or Disposal
  • Form AT3-51 - Annual Personal Property Return of Sole Proprietors and General Partnerships
  • *Form AT3-73 - Application for ID Number

* Non-calculating form

Depreciation treatments required for all MD PPT assets

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

Associations required for all MD PPT assets

  • Situs: Each asset must have Maryland selected in the Situs field to transfer to the Maryland Personal Property Tax return.
  • Location: Enter the address at which the property is located. A property tax return is created for each location entered. This information transfers to the Location field on Form 1 or Form AT3-51. A maximum of 25 characters will transfer.
  • PPT type - MD: Enter the appropriate personal property type for the asset. Assets with the following property types transfer to Form 1 and Form AT3-51.
    • Section A
    • Section B
    • Section C
    • Section D
    • Section E
    • Section F
    • Section E
    • Section F
    • Section G
    • Tools, mach, equip used for manufacturing and RD
    • Vehicles with interchangeable registration
    • *X - Exempt

    *Assets with the X - Exempt property type or blank do not transfer to any form.

    Note: The associations listed above are maintained by UltraTax CS and Fixed Assets CS and cannot be modified.

  • Form 4-MD: Enter the appropriate balance sheet type for the assets. This information transfers to the corresponding section of Form 4A in UltraTax CS. The balance sheet types are:
    • Buildings
    • Furniture & fixtures
    • Intangible
    • Land
    • Leasehold improvements
    • Machinery & equipment
    • Manufacturing / R&D equipment
    • Other - Form 4B, line 8
    • Transportation equipment (not registered)
    • Transportation equipment (registered)

See also

Entering de minimis assets

UltraTax CS personal property tax returns