Personal Property Tax

Closing A Business

A business must file a personal property tax return when it is in business on its tax listing date and the following January 1, which is the lien date for all taxpayers. Any business that closes prior to its listing date for a particular tax year (December 31 for calendar year-end taxpayers and the fiscal year-end date for fiscal year-end taxpayers) and prior to January 1 of the next calendar year does not need to file a return for the tax year in which it closes its business. However, any business that closes prior to filing its tax return for the last year that it was in business that includes a listing date and lien date, must still file a return.

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