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D.C. Municipal Regulations (Last Updated: September 13, 2017) |
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Title 9. TAXATION AND ASSESSMENTS |
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Chapter 9-11. QUALIFIED HIGH TECHNOLOGY COMPANY |
Section 9-1112. PERSONAL PROPERTY TAX INCENTIVES FOR QUITCS
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1112.1Qualified property purchased by a QHTC after December 31, 2000 shall be exempt from personal property tax for 10 years beginning in the year of purchase.
1112.2If qualified property purchased by a QHTC after December 31, 2000, is being used or available for use in the eleventh year and thereafter, the qualified property shall be reported at 25 percent (25%) of the original cost or exchange value, unless the qualified property is qualified technological equipment, as defined in D.C. Official Code § 47-1523(b), in which case it shall be reported at 10 percent (10%) of the original cost or exchange value.
1112.3The following is an example of the application of §§ 1112.1 and 1112.2:
After December 31, 2000, Company F, a certified QHTC, purchased computer equipment that is qualified property. The computer equipment purchased by Company F is exempt from personal property tax for 10 years beginning with the date of purchase.