Q&A from 8/24/23 Session

Q1. Can you please explain the difference between "bundled" and unbundled" software?
A1. When you purchase a new computer and it comes with pre-loaded software programs already installed, that is software that has been bundled in with the purchase of the computer. This type of software is not declarable. If you recently purchased and installed Quickbooks on your 2-year old computer, THAT computer software is a declarable asset.

Q2. I am leasing a copy machine. Do I declare that asset or will the leasing company declare it?
A2. How leased items are declared should be worked out between the Lessor and the Lessee, and may be discussed within the terms of your lease. Ultimately, our office should be able to confirm that only one entity declares the asset(s). Leasing companies always provide detailed asset listings with their submittal. You should too.

Q3. I own a business and have one motor vehicle registered with the DMV in the business name. Should that vehicle be included on my declaration?
A3. Only unregistered motor vehicles, trailers, campers, and machinery such as payloaders or forklifts should be included on the declaration. If a vehicle is registered through the CT Department of Motor Vehicles, and travels on the road, it will be assessed via the motor vehicle grand list that is provided to our municipality each year.