Frequently Asked Questions about Personal Property
Is computer software taxable?
How is leased personal property reported?
Is business inventory taxable?
What type of personal property is exempt?
How is location of personal property determined?
For answers, click here for Nebraska State Guide on Personal Property Guide
Business Personal Property
Phone: 444-7060
Click here to download a copy of the Nebraska Personal Property Return
Click here to download a copy of the Nebraska Personal Property Schedule 1
Click here for Nebraska State Guide on Personal Property Guide
Business personal property is defined as tangible, depreciable income producing property, including machinery and equipment, furniture and fixtures.
Who Must File A Nebraska Personal Property Return?
- Anyone who owns or holds any taxable, tangible personal property on January 1, 12:01 a.m. of each year
- Anyone who leases personal property from another person
- Anyone who leases personal property to another person
Due Dates and Late Penalties
- Personal property forms must be filed annually with the Douglas County Assessor by May 1
- Returns filed after May 1 but on or before July 31 will be subject to a penalty of 10 percent of the tax due on the value added
- Returns filed after July 31 will be subject to a 25 percent penalty
- When personal property becomes taxable because it is no longer owned by a tax exempt entity, the owner or agent has 30 days to report the property; After the 30 days, the assessor shall list and value the personal property and apply any appicable penalty