How to Fill Out Georgia Form PT-50P (w/Examples) + FAQs

Georgia Form PT-50P is the Business Personal Property Tax Return that every business, freelancer, and self-employed person operating in Georgia must file with the county Board of Tax Assessors in the county where the personal property is located on January 1 of the tax year. The form reports the cost and value of furniture, fixtures, machinery, equipment, and other tangible personal property used in a trade or business, and it is the foundation the county uses to calculate the ad valorem (property) tax bill mailed out each fall.

According to the Georgia Department of Revenue, more than 400,000 business personal property returns are filed across Georgia’s 159 counties each year, and county assessors report that roughly 1 in 5 returns are filed late or with errors that trigger a 10% penalty under O.C.G.A. § 48-5-299. Missing the April 1 deadline or omitting a single asset class can cost a small business thousands of dollars in penalties, “forced assessments,” and lost Freeport exemption benefits.

Here is what you will learn in this guide:

📋 What Form PT-50P is, who must file it, and the exact county office that receives it
🗂️ The eight documents and records you must gather before you open the form
✍️ A line-by-line, box-by-box walkthrough of every schedule, signature block, and exemption checkbox
👥 Three full filled-out examples covering a restaurant, a tech startup, and a manufacturer with Freeport
⚠️ The ten most common mistakes filers make on PT-50P and the dollar-cost consequence of each

What the Form Is and Who Must File It

Georgia Form PT-50P is the official Tangible Personal Property Tax Return prescribed by the Georgia Department of Revenue under O.C.G.A. § 48-5-299 and required by every county Board of Tax Assessors. The form is the way a business tells the county what it owns, what it paid for it, and where it sits as of January 1 of the tax year. The county then applies depreciation schedules from the Georgia Appraisal Procedures Manual (Rule 560-11-10) to convert reported cost into fair market value and finally into the 40% assessed value used for billing.

Anyone who owns, leases, or controls tangible personal property used in a trade or business in Georgia on January 1 must file. That includes corporations, LLCs, partnerships, sole proprietors, independent contractors, food trucks, online sellers with Georgia inventory, landlords who rent furnished units, farmers (who often file a companion PT-50A), and out-of-state companies with equipment temporarily stored in Georgia. The threshold is low — the Georgia personal property exemption waives tax only when the total fair market value of all reportable property is $7,500 or less, but the return must still be filed to claim that exemption.

The form is not filed with the state Department of Revenue. It is filed locally with the county Board of Tax Assessors in the county where the property is located. A business with property in three counties files three separate PT-50P returns. The deadline is the same as the real estate return — April 1 — unless the county adopts a different statutory date, which a handful do.

Before You Start: Documents and Information You Need

Open a folder before you open the form. Form PT-50P is short, but the schedules behind it require pulling numbers from accounting software, lease files, and last year’s return. The county will reject or “force-assess” any return that arrives incomplete, and a forced assessment locks you out of appeal grounds you would otherwise have under O.C.G.A. § 48-5-311.

Gather these eight items first:

Federal Employer Identification Number (FEIN) or Social Security Number. The county cross-checks this against the Georgia Secretary of State’s business registry, and a wrong digit will route your return to the wrong account and trigger a duplicate-filing notice.
Prior-year PT-50P return. Last year’s filed return tells you which assets were already reported, what the county valued them at, and which depreciation group (Group I–IV) each asset sits in.
Fixed asset / depreciation schedule from your books. Pull the schedule directly from QuickBooks, Sage, NetSuite, or your CPA’s workpapers, broken out by year of acquisition and original cost.
General ledger detail for accounts 1500–1799 (fixed assets). Without ledger detail you cannot reconcile additions and disposals for the year, and unreconciled additions are the number-one audit flag.
Lease agreements for any rented or leased equipment. Schedule C requires lessor name, address, lease start date, monthly payment, and original cost when new.
Inventory valuation as of January 1. This is the cost (not retail) of raw materials, work-in-process, and finished goods on hand at 12:01 a.m. on January 1.
Freeport exemption application (Form PT-50PF) if claimed. The Freeport application must be filed with the PT-50P on or before April 1 — never after.
Mailing address and physical situs address of every Georgia location. Property is taxed at the situs (physical location) county, not the headquarters county, and confusing the two routes the bill to the wrong jurisdiction.

If any one of these eight items is missing on April 1, file the return anyway with your best estimate and a written note that an amended return will follow — late filing penalties are far worse than a flagged estimate.

Where to Get the Form and How to Access It

The blank PT-50P is hosted on the Georgia Department of Revenue forms library as a fillable PDF, and the current revision date printed in the lower-left corner is Rev. 09/2024 (which remains the live version for tax year 2026 filings). Most counties also post the same PDF on their assessor websites with the county name, address, and account number pre-printed in the header block — always prefer the county-branded version when one is offered because it routes correctly through the county’s mail-room scanner.

You can also pick up a paper copy in person at any county assessor’s office. The four largest counties post their own portals: Fulton County Board of Assessors, DeKalb County Property Appraisal, Gwinnett County Assessor, and Cobb County Board of Tax Assessors. Each of those counties allows online filing through a portal that walks you through the same fields as the paper PT-50P but auto-saves and timestamps the submission.

If your business operates in a county that does not offer an online portal, you have three remaining channels — mail, in person, or fax. Whichever channel you choose, keep proof of filing. A postmarked April 1 envelope, a date-stamped intake slip, or a fax confirmation page is the only defense against a “non-filer” letter that arrives in July.

Step-by-Step: How to Fill Out Form PT-50P Line by Line

The PT-50P fits on one double-sided page, but the four schedules on the back do the heavy lifting. Work top-to-bottom on the front, then complete Schedules A, B, C, and D on the back, then return to the front to sum totals into the boxes labeled “Taxpayer’s Return of Value.” Always use black ink, print in ALL CAPS, and date every entry in MM/DD/YYYY format unless the county portal specifies otherwise.

Header Block: Tax Year, County, and Account Number

The header block at the top of the form asks for the tax year, the county name, and the account number assigned by the county assessor. In plain English: tell the county which year’s tax this return covers, which county receives it, and which file folder it belongs in. Enter the tax year as the four-digit year (e.g., 2026), the county name in all caps (e.g., FULTON), and the account number exactly as it appears on last year’s assessment notice or trim notice.

For example, Maria Lopez of Lopez Catering LLC writes 2026 in the tax year box, FULTON in the county box, and her account number BPP-204815 in the account number box. If you are filing for the very first time and have no account number, leave the box blank and write NEW ACCOUNT in the margin — the county will assign a number and notify you.

The most common edge case is a business that moved counties mid-year. Property is taxed where it sat on January 1, so even if you moved to Cobb on January 5, file the 2026 return in Fulton with last year’s Fulton account number. The most common mistake is reusing a sister-company account number, which posts your assets to the wrong taxpayer and triggers a double assessment. A common misconception is that the tax year matches the filing date — it does not; tax year 2026 reports property owned on January 1, 2026, filed by April 1, 2026.

Taxpayer Name and Mailing Address

This field asks for the legal name of the entity that owns the property and the address where the tax bill should be mailed. Enter the exact legal name shown on your IRS EIN letter or Georgia Secretary of State filing — not the “doing business as” name unless you are a sole proprietor without a registered entity. Use the mailing address where you actually open mail, even if it differs from the physical business location.

Lopez Catering LLC writes LOPEZ CATERING LLC on the name line and 2415 PEACHTREE ST NE, ATLANTA, GA 30309 on the address line. If the legal name has changed since last year (merger, conversion, name amendment), write the new name and attach a copy of the amended articles.

A common edge case is a single-member LLC that has elected disregarded-entity tax treatment — still file under the LLC name, not the member’s name, because the county tracks property at the entity level. The most common mistake is using a P.O. Box for the mailing address while leaving the situs address blank, which delays the tax bill and forfeits notice of any value increase. A common misconception is that listing a CPA’s address as the mailing address shifts liability — it does not; the taxpayer of record remains liable regardless of where the bill is mailed.

Situs Address (Physical Location of Property)

The situs field asks where the property physically sits in the county as of January 1. Enter the street address of every location in the county. If you have more than one location in the same county, list the primary location here and attach a schedule listing the others with the asset count at each.

Tech Forward Inc., a software startup, writes 1100 SPRING ST NW, SUITE 800, ATLANTA, GA 30309 as the situs because that is where the laptops, monitors, and conference-room furniture sit. If property moves between locations during the year, the January 1 location controls.

A common edge case is equipment in a public warehouse or third-party storage facility — the situs is the warehouse address, not the owner’s headquarters. The most common mistake is listing the registered agent address instead of the physical location, which assigns the property to the wrong tax district and the wrong millage rate. A common misconception is that home-based businesses are exempt — they are not; a home office’s desk, computer, and printer are reportable personal property if used in trade or business.

NAICS Code and Nature of Business

This line asks for your six-digit North American Industry Classification System (NAICS) code and a short description of what your business does. Enter the same NAICS code you use on your federal Form 1120, 1065, or Schedule C, and write a plain-English description in the nature-of-business line.

Lopez Catering LLC writes 722320 (Caterers) and MOBILE FOOD CATERING SERVICES. Tech Forward Inc. writes 541511 (Custom Computer Programming Services) and SOFTWARE DEVELOPMENT.

A common edge case is a business with two divisions under one EIN (e.g., catering plus event rental) — pick the NAICS that represents the larger revenue stream and note the secondary activity in the description. The most common mistake is leaving the NAICS blank, which forces the assessor to guess and often results in misclassification into a higher-depreciation group. A common misconception is that NAICS is interchangeable with SIC — it is not; Georgia counties have moved to NAICS exclusively for personal property mass appraisal.

Schedule A: Furniture, Fixtures, Machinery, and Equipment

Schedule A is the heart of the return. It asks for the original cost, including freight and installation, of every depreciable asset used in the business, broken down by year of acquisition and economic life group (Group I = 5–7 year life, Group II = 8–12 year, Group III = 13+ year, Group IV = computers). Enter cost — not book value, not market value, not depreciated value — and let the county apply the official depreciation factors from Rule 560-11-10-.08.

Carlos Rivera, owner of Rivera Manufacturing Inc., lists his CNC machine purchased in 2023 for $185,000 in the Group III column under the 2023 row. He enters 185000 (no commas, no dollar signs) and totals each column at the bottom.

A common edge case is fully depreciated assets still in use — they remain reportable at original cost until physically retired and disposed of, because Georgia uses a 10% residual floor. The most common mistake is reporting net book value instead of historical cost, which understates the assessment and triggers a discovery audit with a 100% penalty under O.C.G.A. § 48-5-299(c). A common misconception is that Section 179 expensing removes assets from Schedule A — it does not; full federal expensing has zero effect on Georgia ad valorem reporting.

Schedule B: Inventory

Schedule B asks for the cost value of inventory on hand at 12:01 a.m. January 1, broken into raw materials, work-in-process, finished goods, and goods in transit. Enter cost using the same method you use for federal tax (FIFO, LIFO, or weighted average) and disclose the method in the box provided.

Rivera Manufacturing counts $420,000 of steel raw material, $95,000 of work-in-process, and $610,000 of finished goods on January 1, 2026, and writes 420000, 95000, and 610000 in the matching boxes. The total of 1125000 flows to the front-page summary.

A common edge case is consignment inventory — goods you hold but do not own are not reportable by you; goods you own but a third party holds are reportable by you. The most common mistake is reporting inventory at retail price, which can double the assessment and the tax. A common misconception is that perishable inventory (food, flowers, pharmaceuticals) is exempt — it is not, although Freeport Level 2 may exempt it if the county has adopted that level.

Schedule C: Leased, Loaned, or Rented Equipment

Schedule C captures equipment you use but do not own. List the lessor’s name and address, a description of the equipment, the lease start date, the monthly payment, and the original cost when new (ask the lessor in writing if you do not know it). The county uses this to cross-check against the lessor’s own PT-50P, because somebody has to pay tax on the property.

Lopez Catering leases a refrigerated van from GA Truck Leasing LLC. Maria writes GA TRUCK LEASING LLC, 500 INDUSTRIAL BLVD, ATLANTA GA 30318, 2024 ISUZU NPR REFRIGERATED VAN, lease start 03/15/2024, monthly payment $1,250, and original cost $68,000.

A common edge case is a capital lease that transfers ownership at end of term — Georgia generally treats it as owned property on Schedule A, not leased on Schedule C, even though the legal title has not yet passed. The most common mistake is omitting Schedule C because “the lessor is paying tax” — both parties must report, and the county decides which one is assessed. A common misconception is that operating leases under ASC 842 are non-reportable — the financial accounting rule has no effect on Georgia property tax disclosure.

Schedule D: Construction in Progress, Trade Fixtures, and Other

Schedule D is the catch-all for construction in progress (CIP), leasehold improvements that are trade fixtures, signs, supplies, spare parts, and any property that does not fit Schedules A, B, or C. Report at cost incurred to date for CIP and at original cost for everything else.

Tech Forward Inc. is mid-buildout of a new training lab and has accumulated $42,000 in fixtures, audio-visual equipment, and cabling not yet placed in service. The company writes CONSTRUCTION IN PROGRESS — TRAINING LAB BUILDOUT and 42000.

A common edge case is a sign permanently affixed to a leased building — it is generally a trade fixture taxable to the tenant on Schedule D, not real property taxable to the landlord. The most common mistake is forgetting supplies inventory (toner, packaging, cleaning chemicals) which technically must be reported at average on-hand cost. A common misconception is that intangible software is reportable — it is not; only the tangible media and pre-loaded operating systems on hardware are taxable.

Freeport Exemption Checkbox

This box asks whether you are claiming the Freeport (Level 1) inventory exemption authorized by O.C.G.A. § 48-5-48.2. Check the box only if the county and city have adopted Freeport, and only if you simultaneously file the companion application Form PT-50PF. The exemption can remove up to 100% of qualifying inventory value from the assessment.

Rivera Manufacturing checks the box, files PT-50PF, and claims 100% exemption on $610,000 of finished goods destined for out-of-state shipment within 12 months. The exemption saves Rivera roughly $8,500 in annual tax at a 35-mill rate.

A common edge case is a partial-year qualifying inventory — Freeport is granted on a percentage basis based on the prior year’s out-of-shipment ratio, so partial qualification still pays off. The most common mistake is filing PT-50PF after April 1, which under O.C.G.A. § 48-5-48.2(e) reduces the exemption to a maximum of 66.67% and eventually to zero. A common misconception is that Freeport applies to finished goods sold within Georgia — it does not; the inventory must be destined for shipment out of state.

Taxpayer’s Return of Value (Front-Page Summary)

After the schedules are done, transfer the totals to the front-page “Taxpayer’s Return of Value” boxes — one box for furniture and fixtures, one for machinery and equipment, one for inventory, one for leased equipment, and one grand total. Enter your opinion of fair market value, not cost, in these boxes if you disagree with the county’s depreciation tables.

Maria Lopez totals her Schedule A at $48,000 cost and, applying the official Group II depreciation, writes $31,200 as her return of value. If she had simply written $48,000, she would have over-reported and over-paid.

A common edge case is a unique or specialty asset (custom machinery, art, antiques) where the depreciation table produces an absurd value — you may attach an independent appraisal supporting a different value. The most common mistake is leaving the value boxes blank and writing “see schedules” — Georgia law treats a blank value as an admission that the county’s value is correct, surrendering your appeal rights under O.C.G.A. § 48-5-306. A common misconception is that the county must accept your value — it does not; the county may issue a different “assessor’s value” on the trim notice, which then starts your 45-day appeal clock.

Signature, Title, and Date

The signature block asks the owner, officer, or authorized agent to sign under penalty of perjury that the return is true and complete. Print the signer’s name, sign in ink, write the title (Owner, President, CFO, Member, Tax Manager), enter a phone number, and date in MM/DD/YYYY format.

Carlos Rivera signs as PRESIDENT, dates the return 03/28/2026, and lists his cell phone (404) 555-0182 so the assessor can call with questions instead of mailing a deficiency notice.

A common edge case is a CPA or attorney signing as agent — Georgia requires a Form PT-AP1 or a written power of attorney on file with the county before an agent’s signature is accepted. The most common mistake is a missing signature, which renders the return legally a “non-filing” and exposes the business to the full 10% penalty. A common misconception is that an electronic submission through the county portal does not need a signature — it does; the portal collects a typed signature that carries the same perjury weight as ink.

Three Filled-Out Examples Using Real Scenarios

These three named scenarios show how very different businesses approach the same form. Each table lists what the filer enters in the most important sections.

Scenario 1: Maria Lopez — Small Catering LLC in Fulton County

Maria runs a five-employee catering business with one leased van, kitchen equipment, and a small office.

Form Section	What Maria Enters
Tax Year / County / Account #	2026 / FULTON / BPP-204815
Taxpayer Name	LOPEZ CATERING LLC
Mailing & Situs Address	2415 PEACHTREE ST NE, ATLANTA, GA 30309
NAICS / Nature of Business	722320 / MOBILE FOOD CATERING SERVICES
Schedule A — Group II (Kitchen Equipment)	48,000 (acquired 2022–2024)
Schedule B — Inventory	3,200 (food and packaging)
Schedule C — Leased Van	GA TRUCK LEASING LLC; 2024 ISUZU NPR; OC $68,000
Schedule D — Supplies and Signs	1,800
Freeport Checkbox	NOT CHECKED (no out-of-state shipments)
Return of Value (Grand Total)	$34,400
Signature / Title / Date	MARIA LOPEZ / MEMBER / 03/20/2026

Scenario 2: Tech Forward Inc. — Software Startup in Gwinnett County

Tech Forward is a 20-person SaaS company filing its third PT-50P, with mostly laptops, monitors, and office furniture plus a training-lab buildout.

Form Section	What Tech Forward Enters
Tax Year / County / Account #	2026 / GWINNETT / PP-99214
Taxpayer Name	TECH FORWARD INC.
Mailing & Situs Address	1100 SPRING ST NW, STE 800, DULUTH, GA 30096
NAICS / Nature of Business	541511 / CUSTOM SOFTWARE DEVELOPMENT
Schedule A — Group IV (Computers)	215,000 (acquired 2023–2025)
Schedule A — Group II (Office Furniture)	62,000
Schedule B — Inventory	0 (service business)
Schedule C — Leased Copier	XEROX FINANCIAL SVCS; VERSALINK C8000; OC $11,200
Schedule D — Construction in Progress	42,000 (training lab)
Return of Value (Grand Total)	$198,500
Signature / Title / Date	PRIYA PATEL / CFO / 03/27/2026

Scenario 3: Carlos Rivera — Manufacturer with Freeport in Cobb County

Rivera Manufacturing makes precision metal parts that ship nationwide, qualifying for Freeport Level 1 at 100%.

Form Section	What Rivera Enters
Tax Year / County / Account #	2026 / COBB / M-44021
Taxpayer Name	RIVERA MANUFACTURING INC.
Mailing & Situs Address	780 INDUSTRIAL PKWY, MARIETTA, GA 30062
NAICS / Nature of Business	332710 / MACHINE SHOPS — PRECISION METAL PARTS
Schedule A — Group III (CNC Machines)	1,250,000
Schedule B — Inventory (Raw / WIP / Finished)	420,000 / 95,000 / 610,000
Schedule C — Leased Forklifts	RAYMOND LEASING; 3 UNITS; OC $87,000
Schedule D — Trade Fixtures and Signs	18,500
Freeport Checkbox + PT-50PF	CHECKED — 100% on $610,000 finished goods
Return of Value (Grand Total, after Freeport)	$1,265,500
Signature / Title / Date	CARLOS RIVERA / PRESIDENT / 03/28/2026

How to File the Completed Form

Form PT-50P is filed at the county level, not with the state, and the channel depends on what the county supports. Whichever channel you use, the postmark or timestamp rules under O.C.G.A. § 48-5-18 control — a return is timely if mailed by April 1, even if it arrives later.

Online filing is available through county portals. Fulton uses the Fulton County Online Business Personal Property portal, DeKalb uses the DeKalb portal, Gwinnett uses the Gwinnett online filing site, and Cobb uses Cobb’s online filing system. There is no filing fee; payment of the eventual tax bill is separate and arrives in the fall. Online filings produce a confirmation number and PDF receipt — save both. Processing time is roughly 30–60 days before the trim notice arrives.

Mail filing goes to the Board of Tax Assessors at the county address printed on last year’s notice. Mail by certified mail, return receipt requested, so you have the green card as proof of timely filing. No fee is due with the return. In-person filing is accepted at the assessor’s office during business hours and produces a date-stamped intake slip — keep the slip in your tax file for at least four years. Fax filing is accepted in many counties at the fax number on the assessor’s website; keep the fax confirmation page as proof. For every channel, retain a complete copy of the return and all schedules for at least four years, matching the audit lookback window under O.C.G.A. § 48-5-299(b).

What Happens After You File

Within 30 to 90 days of filing, the county Board of Tax Assessors reviews your return and either accepts your reported value or assigns a different “assessor’s value.” The county then mails an Annual Notice of Assessment (often called the “trim notice”) to the mailing address on the return. The trim notice shows the county’s value, the prior year’s value, the estimated tax, and the 45-day deadline to appeal under O.C.G.A. § 48-5-311.

If you do not appeal within 45 days, the county’s value becomes final and cannot be challenged for that tax year. If you do appeal, you can appeal to the Board of Equalization, to a hearing officer (for properties with FMV over $500,000), or to binding arbitration — your choice. The actual tax bill arrives in the fall (typically August–November depending on the county) and is normally due 60 days after mailing. Failure to pay on time adds interest under O.C.G.A. § 48-2-40 and a tax lien against the business assets.

Mistakes to Avoid When Filling Out the Form

These are the ten errors that cost Georgia businesses the most money each year.

Missing the April 1 deadline. The consequence is a flat 10% penalty added to the entire assessment under O.C.G.A. § 48-5-299.
Reporting net book value instead of original cost on Schedule A. The consequence is a “discovery” assessment with up to triple back-tax exposure for three prior years.
Forgetting to file Form PT-50PF with the Freeport claim. The consequence is full loss of the Freeport exemption for the year, often tens of thousands of dollars.
Listing a P.O. Box as situs address. The consequence is misrouted tax bills, missed appeal windows, and ultimately a tax lien.
Omitting leased equipment on Schedule C. The consequence is a duplicate assessment when the lessor reports the same asset and the county taxes the wrong party.
Leaving the “Taxpayer’s Return of Value” boxes blank. The consequence is automatic acceptance of the assessor’s value and loss of appeal grounds.
Using the prior year’s account number after a county move. The consequence is two open accounts and a duplicate bill that takes years to unwind.
Failing to disclose fully depreciated assets still in use. The consequence is a discovery audit triggered when the county physically inspects the premises.
Forgetting to sign and date the return. The consequence is the county treating the return as never filed, generating a non-filer penalty.
Not keeping proof of mailing. The consequence is no defense against a late-filing penalty when the county claims it never received the return.

Do’s and Don’ts

Do’s

Do file even if your total value is under the $7,500 exemption — the exemption is claimed by filing, not by silence.
Do use original cost, including freight and installation, on Schedule A so the depreciation tables apply correctly.
Do file Form PT-50PF with the PT-50P on the same day if you want Freeport.
Do attach a written explanation when your reported value differs from a straight depreciation calculation.
Do file by certified mail or use a portal that issues a confirmation number.
Do reconcile additions and disposals to your general ledger before submitting.

Don’ts

Don’t report inventory at retail price — use cost only.
Don’t skip Schedule C because “the lessor pays” — both parties must report.
Don’t leave NAICS, signature, or value boxes blank.
Don’t assume Section 179 federal expensing removes assets from PT-50P.
Don’t file PT-50PF after April 1 — late Freeport is permanently reduced.
Don’t toss your prior-year return; you need it to track depreciation groups.

Pros and Cons of Filing on Your Own vs. With Help

Pros of filing on your own

No professional fee, which matters for the smallest businesses where tax owed is under $1,000.
Direct knowledge of your own assets and their condition, often better than any CPA.
Faster turnaround when you control the schedule.
Better long-term institutional memory of which assets were retired or moved.
Direct relationship with the county assessor for follow-up calls.

Cons of filing on your own

Easy to miss Freeport opportunities worth thousands of dollars.
Depreciation group classification (I vs. II vs. III vs. IV) is technical and easy to misapply.
Appeal preparation is time-consuming and unfamiliar.
Audit defense without a tax pro is risky for larger asset bases.
No second set of eyes catches the wrong account number, wrong situs, or missed signature.

FAQs

Is Form PT-50P filed with the state or the county?

No. It is filed with the county Board of Tax Assessors in each Georgia county where personal property sits on January 1, not with the Georgia Department of Revenue.

When is the PT-50P due?

Yes, the deadline is April 1 of the tax year in nearly every county, with the postmark date controlling under O.C.G.A. § 48-5-18 when filed by mail.

Do I write my legal entity name or DBA in the taxpayer name box?

Yes, use the legal entity name shown on your EIN letter; list the DBA in the nature-of-business line if it differs and you want clarity.

What if I have no assets to report?

Yes, you must still file a “zero” PT-50P to keep your account active and confirm there is nothing to tax; silence is treated as non-filing.

Do I report assets at cost or at depreciated value on Schedule A?

Yes, always report original cost including freight and installation; the county applies the official depreciation tables to produce fair market value.

Is leased equipment reported by the lessee or the lessor?

Yes, both parties report — the lessee on Schedule C of PT-50P, the lessor on its own PT-50P; the county decides who is assessed.

Do I check the Freeport box even if my city has not adopted Freeport?

No. Freeport applies only where both the county and the city have voted to adopt the exemption; check your county assessor’s website first.

What is the penalty for filing late?

Yes, the penalty is 10% of the tax due under O.C.G.A. § 48-5-299, plus interest, plus loss of any Freeport claim filed after April 1.

Are computer software and intangible licenses reportable?

No. Intangible software and licenses are not reportable; only the tangible hardware and pre-loaded operating systems are taxable on Schedule A.

Do home-based businesses have to file PT-50P?

Yes, if a desk, computer, printer, or inventory is used in a trade or business and the total fair market value exceeds $7,500, the home-based business must file.

Can I e-sign a portal-filed PT-50P?

Yes, the typed name in a county portal carries the same perjury weight as an ink signature on paper under Georgia’s Uniform Electronic Transactions Act.

What happens if the county’s value on my trim notice is higher than what I reported?

Yes, you have 45 days from the date on the trim notice to appeal to the Board of Equalization, a hearing officer, or binding arbitration under O.C.G.A. § 48-5-311.

Do I have to list fully depreciated equipment still in use?

Yes, Georgia uses a 10% residual floor, so any asset still in use must remain on Schedule A at original cost until physically disposed of.

Is inventory in a public warehouse taxed at my headquarters county or the warehouse county?

No, it is not taxed at headquarters; the situs is the warehouse county, and you file a separate PT-50P there even if you have no employees in that county.

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