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Screen GBInv - Georgia PPT - Inventory

Overview

Use this screen to enter information for Form PT-50P, Page 4 and Form PT-50PF.

Schedule B - Inventory

Use this section to complete Form PT-50P, Schedule B.
UltraTax CS automatically enters the next available number. UltraTax CS uses this information to gather and coordinate information for the assessable business location.
UltraTax CS transfers to this box the account number that you entered in the
Location ID #
 box in the Asset Dialog for the federal activity.
In the statement window, enter inventory information required for Schedule B and Form PT-50PF. Enter the type code in the column for the corresponding Schedule B Line, or use the fieldview to make the selection.
Schedule B Line
Description
Defaults to PT-50PF Line
1
Merchandise
E
2
Raw Materials
F
3
Goods In Process
G
4
Finished Goods
A
5
Goods In Transit
A
6
Warehoused
A
7
Consigned
A
8
Floor Planned
A
9
Spare Parts
D
10
Supplies
C
11
Packaging Materials
B
12
Livestock
A
When you enter the Schedule B Line code, UltraTax CS sets the code in the
PT-50PF Line
 column. For most items, UltraTax CS defaults to
A
. If the default code requires modification, enter the correct code in the
PT-50PF (Force)
 column. The PT-50PF codes correspond to the letters designating inventory types on Form PT-50PF, line 5.

Schedule C - Construction In Progress

Use this section to complete Form PT-50P, Schedule C.
In the statement window, enter the construction-in-progress information required for Schedule C.

Sections 1 - 4

Use this section to complete Form PT-50P, Sections 1 through 4.
In the statement window, enter the consigned goods information required for Section 1.
In the statement window, enter the leased or rented equipment information required for Section 2.
In the statement window, enter the additions or items-transferred-in information required for Section 3. By default, UltraTax CS includes assets, entered through the asset module, in service in the current year.
In the statement window, enter the disposals or items-transferred-out information required for Section 4. By default, UltraTax CS includes assets disposed of, through the asset module, in service in the current year.

Form PT-50PF Information

Use this section to complete Form PT-50PF.
Select the percent of exemption approved by the county or city for manufacturer’s raw materials and goods in process.
Select the percent of exemption approved by the county or city for the finished goods held by the original manufacturer.
Select the percent of exemption approved by the county or city for the finished goods held by distributors, wholesalers, and manufacturers destined for out-of-state shipment.
Select the percent of exemption approved by the county or city for the finished goods of fulfillment center held less than 12 months.
Select the percent of exemption approved by the county or city for the Total Freeport level 2.
Enter the amount of finished goods shipped from this county during the last complete calendar year used to calculate Form PT-50PF, Page 2.
Enter the amount of finished goods shipped from this county to an out-of-state destination during the last complete calendar year used to calculate Form PT-50PF, Page 2.
Enter the title required on Form PT-50PF, Page 2.
The date entered in this box is used to calculate a partial exemption on Freeport inventory.
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