Available in All Connecticut Counties
Taxscribe transforms tax management for business owners and CPAs in Connecticut, streamlining the shift from paper forms to efficient online filing. Offering advanced user management, easy data import, intuitive form completion, smooth submission processes, and comprehensive analytics, Taxscribe makes tax filing easier. It ensures businesses of every scale effortlessly navigate Connecticut’s tax compliance requirements.
Available Forms:
- - Declaration of Personal Property
What is Business Personal Property?
Personal property is defined as all tangible property that is not permanently affixed to real estate. This property includes but is not limited to unregistered motor vehicles, furniture, fixtures, equipment and supplies.
Personal property is defined as all tangible property that is not permanently affixed to real estate. This property includes but is not limited to unregistered motor vehicles, furniture, fixtures, equipment and supplies.
Who should file a Personal Property Return?
In the State of Connecticut, all owners of taxable personal property are required to file declarations of such property to the local Assessor where their property is located.
In the State of Connecticut, all owners of taxable personal property are required to file declarations of such property to the local Assessor where their property is located.
When you should file:
The declaration of personal property is due to the local Assessor by November 1st annually.
The declaration of personal property is due to the local Assessor by November 1st annually.
Exemptions:
There are several exemptions available for business owners, they include:
- Manufacturing & Machinery Exemption, Exemption claim must be filed annually
- Municipal Leased Property
- Mechanic’s Tools assessed up to $500 value of 350 assessment exemption is available for businesses
- Class I Renewable energy. Exemption application is required.
- Water Pollution or Air Pollution Control Equipment – (Must include a copy of CT DEEP certificate)
- For a complete list of exemptions, please review the personal property declaration form page 7.
- Most tax exempt organizations must file a M3 TAX EXEMPT APPLICATION every four years to maintain their exempt status. Personal Property Declarations are filed every year. Please contact your local assessor for more information.
There are several exemptions available for business owners, they include:
- Manufacturing & Machinery Exemption, Exemption claim must be filed annually
- Municipal Leased Property
- Mechanic’s Tools assessed up to $500 value of 350 assessment exemption is available for businesses
- Class I Renewable energy. Exemption application is required.
- Water Pollution or Air Pollution Control Equipment – (Must include a copy of CT DEEP certificate)
- For a complete list of exemptions, please review the personal property declaration form page 7.
- Most tax exempt organizations must file a M3 TAX EXEMPT APPLICATION every four years to maintain their exempt status. Personal Property Declarations are filed every year. Please contact your local assessor for more information.
Extensions:
An extension to file the declaration can be requested in writing to the local assessor prior to November 1.
An extension to file the declaration can be requested in writing to the local assessor prior to November 1.
Important Notes:
- There is a 25% penalty of the assessment value when:
- The declaration is not presented on or before November 1
- There is no signature of owner or legal representative on the declaration
- An extension is granted and declaration is not filed on or before the extension deadline
- New taxable personal property is not declared but it is discovered by the town
- It is not acceptable to present declarations with the legend “Same as last year”. The lack of information may result in an estimated assessment plus penalty.
- There is a 25% penalty of the assessment value when:
- The declaration is not presented on or before November 1
- There is no signature of owner or legal representative on the declaration
- An extension is granted and declaration is not filed on or before the extension deadline
- New taxable personal property is not declared but it is discovered by the town
- It is not acceptable to present declarations with the legend “Same as last year”. The lack of information may result in an estimated assessment plus penalty.
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