5403, Page 2 Optional Worksheet for Completing Part 2, Line 2 See pages 3 and 4 for instructions. 1. For EMPP that was formerly under the IFT certificate identified in Part 1 of this form and was first placed $ in service before 2006, enter the acquisition cost from the 2015 Personal Property Statement, Form 632. 2. For EMPP that was formerly under the IFT certificate identified in Part 1 of this form and was first placed in service before 2006, enter the true cash value from the 2015 Form 632. $ 3. For EMPP that was formerly under the IFT certificate identified in Part 1 of this form and was first placed in service before 2006, compute and enter the estimated 2016 true cash value using the acquisition costs reported on the 2015 Form 632 and using 2016 multipliers. See instructions. $ 4. For EMPP that was formerly under the IFT certificate identified in Part 1 of this form and was first placed in service before 2006, if the taxpayer reported the fair market value of that specific EMPP on Part 3 of 2016 Form 5278, complete lines 5-8. Otherwise, multiply line 3 of this worksheet by 50% (0.50) and enter the amount here and on Part 2, line 2. $ % 5. Divide line 3 by line 1. 6. For EMPP that was formerly under the IFT exemption certificate identified in Part 1 of this form and that was first placed in service before 2006, enter the fair market value from Part 3 of 2016 the Form 5278. $ 7. Multiply line 6 by line 5. $ 8. Estimated 2016 Taxable Value for EMPP placed in service prior to 2006: Multiply line 7 by 50% (0.50) $ and enter amount here and on Part 2, line 2.
5403, Page 2 Optional Worksheet for Completing Part 2, Line 2 See pages 3 and 4 for instructions. 1. For EMPP that was formerly under the IFT certificate identified in Part 1 of this form and was first placed in service before 2006, enter the acquisition cost from the 2015 Personal Property Statement, Form 632. $ 2. For EMPP that was formerly under the IFT certificate identified in Part 1 of this form and was first placed in service before 2006, enter the true cash value from the 2015 Form 632. $ 3. For EMPP that was formerly under the IFT certificate identified in Part 1 of this form and was first placed in service before 2006, compute and enter the estimated 2016 true cash value using the acquisition costs reported on the 2015 Form 632 and using 2016 multipliers. See instructions. $ 4. For EMPP that was formerly under the IFT certificate identified in Part 1 of this form and was first placed in service before 2006, if the taxpayer reported the fair market value of that specific EMPP on Part 3 of 2016 Form 5278, complete lines 5-8. Otherwise, multiply line 3 of this worksheet by 50% (0.50) and enter the amount here and on Part 2, line 2. $ 5. Divide line 3 by line 1. % 6. For EMPP that was formerly under the IFT exemption certificate identified in Part 1 of this form and that was first placed in service before 2006, enter the fair market value from Part 3 of 2016 the Form 5278. $ 7. Multiply line 6 by line 5. $ 8. Estimated 2016 Taxable Value for EMPP placed in service prior to 2006: Multiply line 7 by 50% (0.50) and enter amount here and on Part 2, line 2. $
Form_5403_Personal_Property_2016_Taxable_Value_for_Expired_Tax_Exemptions_-_Missed_MERGED_529406_7.docx