INSTRUCTIONS: VIRGINIA RETURN OF TANGIBLE PERSONAL PROPERTY, MACHINERY AND TOOLS, AND MERCHANTS' CAPITAL - FOR LOCAL TAXATION ONLY (Form 762)

Virginia business owners are required to file a form 762 detailing various assets related to their company in order to determine their local tax burden. This form can be found on the website of the Commonwealth of Virginia Department of Taxation.

Virginia Return Of Tangible Personal Property, Machinery And Tools, And Merchants' Capital - For Local Taxation Only 762 Step 1: At the top of the page, give your name, address, county and town of residence, as well as your Social Security number. If filing jointly, give your wife's name and Social Security number as well.

Virginia Return Of Tangible Personal Property, Machinery And Tools, And Merchants' Capital - For Local Taxation Only 762 Step 2: Part I concerns tangible personal property including motor vehicles, manufactured mobile homes, furniture, office equipment and tools. Provide all information requested in the appropriate columns.

Virginia Return Of Tangible Personal Property, Machinery And Tools, And Merchants' Capital - For Local Taxation Only 762 Step 3: Part II concerns machinery and tools used in manufacturing, mining, dairy, laundry and other businesses. Consult the instructions on page two to see what you must declare.

Virginia Return Of Tangible Personal Property, Machinery And Tools, And Merchants' Capital - For Local Taxation Only 762 Step 4: Part III concerns merchants' capital including inventory of stock on hand. Do not include money on hand and on deposit or personal property which is not for sale.

Virginia Return Of Tangible Personal Property, Machinery And Tools, And Merchants' Capital - For Local Taxation Only 762 Step 5: Part IV concerns tangible personal property including livestock and various personal items which are not for sale.

Virginia Return Of Tangible Personal Property, Machinery And Tools, And Merchants' Capital - For Local Taxation Only 762 Step 6: At the bottom of the second page, a section is reserved for executors, administrators and other fiduciaries to indicate that they are filing this on behalf of an estate, trust or ward.

Virginia Return Of Tangible Personal Property, Machinery And Tools, And Merchants' Capital - For Local Taxation Only 762 Step 7: Sign and date the bottom of the page. Provide a telephone number where you can be contacted.