1 / 6

Business Personal Property Taxation

<br>Do you know what are the types of business personal property and who must file it? You will get more details about when and where does a business owners list. Enroll today in the Business Personal Property program and get to know your potential tax savings @ http://www.poconnor.com/business-personal-property-tax-101

oconnorassociate
Télécharger la présentation

Business Personal Property Taxation

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Business Personal Property Taxation www.poconnor.com/business-personal-property-tax-101

  2. What Is Personal Property? All property that is not characterized or taxed as “real estate” or “real property” is considered to be a PERSONAL PROPERTY. Business personal property includes everything from pens and other small items to computers and manufacturing equipment. It is available whether it is claimed, rented, leased, lent, or in any case made available to the business.

  3. Types Of Business Personal Property Tangible personal property: Office furniture, supplies and devices Tools and equipment Intangible personal property: Copyrights, royalties, patents, personal service contracts, installment obligations, life insurance and annuity contracts.

  4. Who Must File A Business Personal Property Listing? Everyone who owns equipment used in a business must complete a personal property listing by April 30 each year. The listing must include a description of the equipment, its cost, and the acquisition year. The completion of a listing is required of all individuals, partnerships, corporations and associations who on January 1 own, control or possess any amount of leasehold improvements or personal property (tangible) utilized or held for a business reason.

  5. When and Where Does a Business Owner List? The business personal property listing must be filed on or before January 31. The owner can submit the list online or by mail. Listing submitted via mail will be considered to be documented as of the date appeared on the stamp attached by the U.S. Postal Service. If the date does not appear on the stamp or if the stamp is not attached by the U.S. Postal Service, the posting will be considered to be documented. All late recorded postings will be subject to a 10% penalty.

  6. Enroll today in the Business Personal Property program and get to know your potential tax savings www.poconnor.com/business-personal-property-tax-101

More Related