Form 762 Return of Tangible Personal Property, Machinery and Tools, and Merchants' Capital - for Local Taxation Only - Virginia

What Is Form 762?

This is a legal form that was released by the Virginia Department of Taxation - a government authority operating within Virginia. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is form 762 used for?
A: Form 762 is used for reporting and paying taxes on tangible personal property, machinery and tools, and merchants' capital in Virginia.

Q: What types of property are included in form 762?
A: Form 762 includes tangible personal property, machinery and tools, and merchants' capital.

Q: Is form 762 used for local taxation only?
A: Yes, form 762 is specifically for local taxation in Virginia.

Q: Who needs to file form 762?
A: Anyone who owns or leases taxable tangible personal property, machinery and tools, or merchants' capital in Virginia may need to file form 762.

Q: When is form 762 due?
A: The due date for form 762 varies by locality, but it is generally due by May 1st of each year.

Q: How do I submit form 762?
A: Form 762 can be submitted by mail or electronically, depending on the instructions provided by your local government.

Q: What happens if I don't file form 762?
A: Failure to file form 762 or pay the required taxes may result in penalties and interest.

Q: Are there any exemptions or deductions for form 762?
A: Yes, there are certain exemptions and deductions available for qualifying property. You should consult the instructions for form 762 or seek professional advice for more information.