Closing A Business
A public utility taxpayer 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 taxpayer 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 taxpayer 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.
For tax questions, refer to contact
us.