Tax & Accounting Blog

2013 Connecticut Declaration of Personal Property

Blog, ONESOURCE, ONESOURCE Property Tax October 15, 2013

Filing Changes for 2013

The 4 year phase-in of local taxation on personal property for mobile telecommunication companies has been fully reached. In the current assessment year, which began October 1, 2012, and each assessment year hereafter, mobile telecommunications companies must file a declaration in which 100% of the total value of their fully depreciated personal property is reported for assessment purposes. Therefore, The Telecommunication Company Form in Connecticut is obsolete for 2013. Mobile telecommunication companies will now report their telecommunication equipment on the 2013 Connecticut Declaration of Personal Property on or before the November 1, 2013 filing deadline. Telecommunication equipment previously reported in sections 21a, 21b, 21c and 21d on the Telecommunication Company Form will now be reported in sections 21a and 21b on the 2013 Connecticut Declaration of Personal Property. Sections 21c and 21d have been phased out and are no longer used.

History

Legislation, L. 2010, H5255 (P.A. 10–171), enacted by the  on June 8, 2010, changed the taxation of personal property for mobile telecommunication companies. Telecommunication equipment was then subject to local property taxes, rather than statewide tax rate of 47 mills. Local taxation of telecommunication equipment that had been fully depreciated on or before the October 1, 2009 grand list was phased in over 4 years, starting with the assessment year beginning October 1, 2010. Taxpayers were to report 25% of the total value of their fully depreciated personal property the first year, 50% the second year, 75% the third year, and 100% the fourth year.