What kind of personal or business property is taxable?
All machinery, equipment, tools, furniture, fixtures, and leasehold improvements held or used by you in connection with a trade or business; boats; aircraft; and mobile homes. Supplies on hand, demonstration equipment, and construction-in-progress are also assessable. All costs before trade-in including sales tax, freight and installation must be reported on the property statement whether capitalized, expensed or fully depreciated. Inventory held for sale, rent or lease, application software and licensed vehicles are not taxable.
