Indiana Business Tangible Personal Property Taxes
You might think that tax season for SBS CPA Group is over. However, there is one more obstacle we need to overcome: Business Tangible Personal Property Taxes due on 5/15/2019.
Don’t be fooled by the name, this has nothing to do with your personal belongings. The technical definition of business personal property is everything which isn’t real property. Real property is defined by buildings and land. Thus, business personal property is everything else (fork lifts, furniture, computers, etc…). Confusing right?
If you don’t have a significant amount of personal property ($20,000 of cost or less), you can be exempt from paying any tax. However, you STILL need to file the forms.
Our firm prepares hundreds of these tax returns each year and we would be happy to help you.
Give us a call at 260-407-5000, and we would be happy to assist you.