Tangible Personal Property
Taxscribe for Nebraska Business Owners & CPAs
Modern personal property tax filing for Nebraska — prepare your return in minutes, import fixed assets, and e-file to participating jurisdictions or email a print-ready PDF to your local assessor.
What is Tangible Personal Property tax?
Tangible personal property is any tangible property which is used in a trade or business (commercial, industrial, or agricultural) or for the production of income, and which has a determinable life of more than one year.
Who should file Tangible Personal Property?
You must file a Personal Property Return if you:
- Hold or own any depreciable taxable tangible personal property on January 1 at 12:01 a.m. of the year for which the assessment is being made;
- Lease depreciable taxable tangible personal property from another person; or
- Lease depreciable taxable tangible personal property to another person, unless the property is listed and valued on a return filed by the lessee.
- Filing deadline
- The return must be filed on or before May 1st with the county assessor.
- Late penalty
- Depreciable taxable tangible personal property added after May 1 and on or before June 30 of the year the property was required to be reported is subject to a penalty of 10% of the tax due on the value added. Depreciable taxable tangible personal property added on or after July 1 of the year the property was required to be reported is subject to a penalty of 25% of the tax due on the value added.
When you should file:
The return must be filed on or before May 1st with the county assessor.
Exemptions:
- Exempt personal property includes, but is not limited to, motor vehicles, trailers, semitrailers registered for highway use, livestock, and certain rental equipment.
- Various exemption forms can be found here: https://revenue.nebraska.gov/about/forms/pad-forms
Important Notes About Tangible Personal Property:
- Depreciable taxable tangible personal property added after May 1 and on or before June 30 of the year the property was required to be reported is subject to a penalty of 10% of the tax due on the value added.
- Depreciable taxable tangible personal property added on or after July 1 of the year the property was required to be reported is subject to a penalty of 25% of the tax due on the value added.
- If you have property in more than one county, you must file a return with each county in which you have property. If you have property at more than one location in the same county, contact the county assessor to determine if more than one return is required.
Coverage
How Taxscribe works in Nebraska
Taxscribe supports Tangible Personal Property filing across Nebraska. Where your jurisdiction participates in Taxscribe's e-file program, you can submit directly; elsewhere, generate a print-ready PDF and email or mail it to your local assessor. Contact us to see if your jurisdiction participates.