LiDAR data was collected by the Airborne 1 Corporation for the Naval Research Laboratory over a ground setup that included nine retroreflective panels. The results of the LiDAR experiment are very promising, demonstrating the ability to discriminate the retro-reflective panels from the grassy background. Interestingly, although a high-discrimination capability was demonstrated, the LiDAR data also exhibited strong signal fluctuations. We investigate the error contributors and their potential effects on measured LiDAR signal levels through an analysis of the system noise, atmospheric properties, and analysis of potential sampling variances, related to system and test parameters of the data collect. The analysis techniques explored with this NRL LiDAR data set aid in planning of future tests and further development of the actively-illuminated taggant concepts.