Personal Property Taxes in Indiana

Indiana (And most other States) requires businesses to pay personal property taxes on tangible property that they use in the operation of their business.  These tax forms are due to your local Township Assessor by May 15th of each year.

Many Township Assessors are being much more aggressive in pursuing those businesses that do not file their forms on time.  We handle personal property taxes for many of our clients; however, a few of our clients file their own personal property taxes.  One of those clients who handles their own forwarded a copy of a notice they received from a local Township Assessor earlier this year.  This client pays about $20 per year in personal property taxes.  Their Assessor was threatening them with a $5000 bill if said client did not file their personal property tax form promptly.  I ended up filing it for that client the next day and we will handle this filing for that client from now on.

The moral of the story is that you should file your personal property tax forms for your business in a timely fashion!

Mike Sylvester, CPA