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Business Tax

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1. Where do I get a business license?

The county no longer issues privilege license, however, if your business is located inside the city limits of Waynesville, Canton, Maggie or Clyde, or your business has a one-time job located inside either of these city limits you must check with that town.

• Town of Waynesville - Phone: James Robertson - 828-452-3588
• Town of Canton - Phone: Sherry - 828-648-2363
• Town of Maggie - Phone: Shane Wheeler - 828-926-0866
• Town of Clyde - Phone: Sheila Messer - 828-627-2566

2. Where Can I Get a Federal ID or State ID number?

There is no longer an Office located in Haywood County to get these numbers, however the Small Business Center of the Haywood Community College has a brochure with a lot of great information and phone numbers for new businesses to use as a guide. You may pick up one of these brochures in the Business Personal Property Office.

The numbers for the State and Federal ID numbers are:

• State Taxes 
  • NCDOR website 
  • Phone: 828-667-5087
• Federal Taxes
  • IRS website 
  • Phone: 828-271-4724

3. Most of the assets were given to me. Do I still have to list them?

All property that is used or held in connection with a business must be listed. This includes assets that are given as gifts.

North Carolina General Statute 105-304(f)(2) states “Tangible personal property situated at or commonly used in connection with a business premises hired, occupied, or used by the owner of the personal property (or by the owner’s agent or employee) is taxable at the place at which the business premises is situated. Tangible personal property that may be used by the public generally or that is used to sell or vend merchandise to the public falls within the provisions of this subdivision.”

4. Why did I receive a late list penalty on my bill and how much penalty am I paying?

The length of the listing period is during the month of January. Anything received after this time period, that does not have an extension, receives a late list penalty.

As explained in North Carolina General Statute 105-312 (h); the amount of penalty that is acquired through not listing during the regular listing period is 10% per year for each year, up to five years that the property had failed to be listed.

5. Can I get an extension to list my business and if so for how long?

In order to avoid a late list penalty, the taxpayer must send in a written request for an extension showing good cause as to why the taxpayer needs additional time to list. The extension can be granted up to and no later than April 15th.

6. Where Can I get a copy of my Business Personal Property Listing Form?

You may obtain any previous years listing at the Business Personal Property Office.

7. I use my Personal Computer a couple of times a month to do invoices. Do I still have to list my own personal computer?

Anything used in connection with a business must be listed.  This includes any personal property brought from the home or used in the home for the purpose of conducting business.  

8. How did you arrive at the value placed on my business?

The cost information you provide on the listing form is depreciated from the year in which it was purchased. The schedule used in arriving at the current value is the trending schedule provided by the Department of Revenue. If you did not list, and you did not respond to the 30-day letter mailed to you, then the value placed on the business is an estimated value either based on previous years listings or like businesses.

9. My equipment is all very old and does not have any value to it. Why am I still getting a tax bill?

Equipment is never depreciated down to a 0 value by the county.  The trending schedules from the Department of Revenue only allows us to depreciate equipment down to a 25% residual value, which is the value the property holds until its disposal.  The only exception is computer equipment, which is depreciated down to a 10% residual value.

10. We sold the business in February. Why am I still getting billed?

All property assessed by the owner of the property as of January 1st of each year.  If property was not sold until February then the January 1st owner is responsible for the listing of the property and the taxes owed is an issue between the buyer and seller.  

11. What is a depreciation schedule or fixed asset schedule?

A depreciation schedule or fixed asset schedule is a list of all assets owned by the business, sole proprietor, partnership or corporation. This list provides pertinent information that is useful in listing such as a description of the asset, the year in which the asset was purchased and the cost information.

12. Why is my business being audited?

All businesses in Haywood County are randomly selected for an audit. The main two objectives for auditing businesses are:

• Ensuring that all business values are fair and equitable
• Educating business owners on listing correctly

13. Who do I talk to about appealing my audit and how long do I have to make an appeal?

All taxpayers have the right to appeal.  You must appeal within 30 days from the first notice of value.  This must be done by a signed, written request to the Assessor.

14. I only have a rental unit. Why am I getting a business listing form?

General Statute 105-304 (f)(1) states “Tangible personal property situated at or commonly used in connection with a temporary or seasonal dwelling owned or leased by the owner of the personal property is taxable at the place at which the temporary or seasonal dwelling is situated.”

All furnishings must be listed; this includes stove, refrigerator, washer, dryer etc. If a rental is fully furnished the taxpayer has the option to itemize on the listing or use the 6% option, which allows you to use 6% of the value of the dwelling as your taxable value for the furnishings.

15. I sent you my business listing and wrote same as last year on it, so why did you return it?

The directions that are attached with the listing form, clearly states that if a listing is marked “same as last year,” or has not been signed by an authorized signer, the listing will be rejected and could result in penalties being assessed. The General Statutes state that all tangible property is to be listed. Writing “same as last year” is not considered a listing.

16. How did you find out about my business?

There are many different resources our offices use in order to educate new business owners to list the property.

• Business Cards
• Information returned from new business packet
• Telephone Listings
• Visiting new businesses

17. Is there a law that says I have to list my business?

North Carolina General Statute 105-274 (a)(1-2) states “All property, real and personal within the jurisdiction of the State shall be subject to taxation unless it is:

• Excluded from the tax base by a statute of statewide application enacted under the classification power accorded the General Assembly by Article V 2(2), of the North Carolina Constitution, or
• Exempted from taxation by the Constitution or by a statute of statewide application enacted under the authority granted the General Assembly by Article V 2(3), of the North Carolina Constitution.

18. My equipment is located in Buncombe County on January 1st of each year until May. Why do I have to list in Haywood County?

If equipment is generally moved from one place to another the equipment must then, be listed to the county in which the business office is based.

19. Do I have to list my inventory?

Inventory is no longer considered taxable in the state of North Carolina. Inventory is items for sale during the regular course of business.

20. Why am I just now being notified that I have to list my business?

It is the responsibility of each business owner to list his or her assets as of January 1st of each year.

Our office makes every effort to educate all business owners that the law requires them to list their assets. We have offered training seminars that have been taped and aired on the government channel. We also have new business packets located in various places throughout the county.

21. Can my Brother come in and list for me?

Listings must be signed by a legally authorized person.

A legally authorized person is:

• The taxpayer
• A principal officer of the taxpayer
• A Full-Time employee of the taxpayer who has been officially empowered by the principal officer to list the property

22. Where can I get a form to list my business?

There are two ways to get a form to list your business:

1. You may pick up a form in the Business Personal Property Office
2. You may download and print the Business Personal Property Listing Form (PDF) and bring it into the office as well