Available in All Utah Counties
Taxscribe transforms tax management for business owners and CPAs in Utah, 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 Utah’s tax compliance requirements.
Available Forms:
- - Signed Statement of Personal Property
What is Business Personal Property?
Business personal property includes all tangible assets a business owns and uses for its operations that are not considered real property. Examples include furniture, fixtures, machinery, and equipment.
Business personal property includes all tangible assets a business owns and uses for its operations that are not considered real property. Examples include furniture, fixtures, machinery, and equipment.
Who should file a Business Personal Property Return?
Anyone who owns, leases, or controls tangible personal property used for their business on January 1st must file an annual Business Personal Property Return.
Anyone who owns, leases, or controls tangible personal property used for their business on January 1st must file an annual Business Personal Property Return.
When you should file:
Personal property returned should be filed with the county assessor’s office by May 15th.
Personal property returned should be filed with the county assessor’s office by May 15th.
Exemptions:
The following are exempt from personal property tax:
- Tangible personal property with a total aggregate fair market value of $29,300 (2025) or less per taxpayer within a single county
- An item owned by a business that is not critical to the business and whose acquisition cost is less than $500
- Supplies
- Inventory held for resale in the normal course of business
- Farm equipment and machinery used primarily for agricultural production
- Livestock
- Personal property used for irrigation purposes
The following are exempt from personal property tax:
- Tangible personal property with a total aggregate fair market value of $29,300 (2025) or less per taxpayer within a single county
- An item owned by a business that is not critical to the business and whose acquisition cost is less than $500
- Supplies
- Inventory held for resale in the normal course of business
- Farm equipment and machinery used primarily for agricultural production
- Livestock
- Personal property used for irrigation purposes
Important Notes:
- If a business fails to provide the requested information, the assessor must impose a penalty of $25 or 10 percent of the tax due, whichever is greater
- A business may appeal any property valuation to the county board of equalization. Appeals must be filed within 60 days of the date the tax notice is mailed by the assessor
- If a business fails to provide the requested information, the assessor must impose a penalty of $25 or 10 percent of the tax due, whichever is greater
- A business may appeal any property valuation to the county board of equalization. Appeals must be filed within 60 days of the date the tax notice is mailed by the assessor
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