The CAB-05D Report of Personal Property lists all owned leased or rented personal property used in the respondent's operation or used in the conduct of the business in New Mexico. Personal property is tangible property that is not part of, or permanently fixed to, a building or structure. Personal property includes but is not limited to office furniture, machinery and equipment, machinery, equipment, supplies, materials and inventories used in the conduct of your business. Canned computer software is considered to be tangible property. Embedded software is considered to be a part of the machinery or equipment in which it resides. Custom software is considered to be intangible. Report only leased or rented property when the tax liability rests with the lessee.
Personal property inventories that are to be used to produce, manufacture or construct other property, which is then to be sold, are not exempt from property taxation. The following items, when not held by a person as a part of his inventory for sale or resale at wholesale, retail, or on consignment are not exempt from property taxation:
a) Construction materials held by a person engaged in the construction business.
b) Inventories held by a manufacturer for fabrication into manufactured products, and
c) Inventories held by persons engaged in performing services, which are consumed in the performance of the services. However, if the property is not "consumed" in the performance of the service, but is sold as a part of a service in its original form, that property is exempt.
Personal property, which is held by the taxpayer as a part of his inventory for sale or resale, at wholesale, retail or on consignment and is not depreciated for Federal Income Tax purposes, is exempt from property taxation. You must also report all vehicles that do not have a Current New Mexico License Plate that were in New Mexico for 20 days or more.
Notes/Industry Specific Information
This form is for out of state filers only.
This form is for out of state filers only.
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Selecting the CAB-05D Summary record in the Form Group table will take the user to the Summary of Personal Property Summary Index page. The index page is the location where all assets can be viewed, assets can be added, edited and removed. The page also contains the functions to complete your individual filing and launch the available reports.
To add a new asset, select the blue “Add” button at the top left of the table. The user will be taken to the Add Asset page which will allow information to be entered per asset. Note that the required fields are marked with a red asterisk. Once the required data is entered, select the blue next button.
- District: Combination of County and Tax District
- Type: Available asset types per filer type (per IRS publication 946)
- Description: User entered description of asst
- Purchase Date: Original purchase date of asset
- Original Cost: Original cost of asset
- Days in Jurisdiction: The number of days (out of 365) that the asset was located in the taxing jurisdiction
For assets that require a location, the user must provide at least one of the location information sections to constitute a valid filing. The location information sections are:
- PLSS Information: The PLSS Section, Township, Range and Survey (optional)
- Subdivision: The subdivision name and lot number for parcels in subdivided areas
- Latitude and Longitude: The x and y location of the asset or parcel centroid
- County Parcel Identification: The UPC and Account number (RNumber, Owner Number) of the parcel or parcel where the asset is located
- Situs Address: The street address where asset is located (or of the parcel)
Note that for each location section, all required fields must be provided. If you are unable to locate your property, select the checkbox at the top of the page (this will disable the location requirements). Once the required data is entered, select the blue next button.
If an asset is leased, please enter the name and contact information of the property owner in the Contact form. If the property is owned by the rendition filer, select the checkbox (Contact is same as the Rendition Filer) which will disable the requirement to complete the section. Select the blue next button to complete the Add Asset process (user will be returned to the CAB-05D Index).
To edit an asset, select the record in the CAB-05D Index page table. The user will be taken to the Edit Asset page which contains four tabs: (1) Valuation, (2) Location, (3) Contact, (4) History.
The edit asset-valuation page tab contains the information that is being used to calculate the property value. Note that all fields on the page can be edited except for the Property Value field (which is calculated).
The edit asset-location tab contains the location information that was entered for the asset. The user can edit the information entered, or provide additional information.
The edit asset-contact tab contains the information that was entered for the asset property owner. The user can edit the information entered or provide additional information.
The edit asset-history tab contains the history of submissions and values for the asset. There is no information to edit in this interface.
To delete an asset from the CAB-05D index, select the record in the record table (if not already selected). On the bottom left-hand corner of the edit asset-valuation tab is a red Delete button. Selecting the button will trigger a modal window to confirm the deletion.
Completing a filing indicates that it is ready for submission (which is completed through the certification task). Once all forms within a form group are marked complete, the form group can be submitted. To complete a filing, select the white and blue Complete button. A modal window will appear to confirm your action. Selecting yes will mark the form complete, selecting no will return you to the form.