Personal Property Categories

 

Group Number

 Items Average Life Expectancy % of Annual Depreciation
GROUP 1 Furniture, Fixtures, General Equipment, and all other property not listed in another group 8 years 12.5 %
GROUP 2

Computers, Copiers, Peripherals, Fax Machines, and Tools

 3 years 33.3 %
GROUP 3 Molds, Dies, and Jigs 4 years 25 %
GROUP 4

Aircraft, Towers, and Boats

 13 years 7.7 %
GROUP 5 Manufacturing Machinery 8 years 12.5 %
GROUP 6

Billboards, Tanks, and Pipelines

 16 years 6.25 %
GROUP 7 Scrap Property

Scrap Property is valued at 2% of its original acquisition cost
GROUP 8 Raw Materials and Supplies

Raw Materials and Supplies are valued at 100% of their costs
GROUP 9 Vehicles 5 Years 20 %
GROUP 10 Construction-in-Process

Construction-in-Process (CIP) is valued at 15% of costs 

 

Note:  The minimal value of property still in use (or capable of use) is 20 % of its original acquisition cost.  No matter which group of property or the rate of annual depreciation, the property will maintain that 80 % depreciated value until the item is no longer capable of being used for its intended purpose.

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