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Yes, the filing laws that apply to business also apply to non-profit organizations. Non-profit organizations many, however, qualify for exemptions.
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California Law prescribes a yearly ad valorem tax based on property as it exists at 12:01 a.m. on January 1 (tax lien date). The Form 571L or 571A constitutes an official request that you declare all assessable business property situated in this county which you owned, claimed, possessed, controlled or managed on the tax lien date. The form is approved by the State Board of Equalization (BOE) but forms are administered by the county.
An annual filing of a Business Property Statement is a requirement of section 441(d) of the California Revenue and Taxation Code. Statements are sent in order to gather the most up to date information on the business property so that an accurate value can be determined.
California Constitution Article XIII and Revenue and Taxation Code section 201 state that all property is taxable unless it is stated that it is exempt. Business personal property is not exempt.
Sales tax and property tax are two different types of taxes.
Business property includes all property, unless exempted by state or federal law, and real estate owned and/or used by a business. Examples of business personal property include operating supplies, office furniture, computers, machinery, and hand tools. Business property also includes leasehold fixtures and leasehold structures (tenant improvements.)
This is a requirement of section 441(d) of the California Revenue and Taxation Code. An Assessor’s request for the filing of an annual statement is sent in order to gather the most up to date information on the business property so that an accurate value can be determined.
It is important that the statement be returned even if you no longer own the business property. If a statement is not returned, an estimated assessment will be made using the best information available, equipment is not depreciated, and a 10% penalty on the assessed value will be added for failure to file as mandated by the California Revenue and Taxation Code section 463.
The Assessor’s Office is responsible for making reasonable assessments based on available information. If you do not file a property statement, the assessor will estimate the assessable value. In addition, a 10% penalty for failure to file will be added to your assessment and equipment is not depreciated.
Yes. If you are using the equipment for business purposes, it is reportable, assessable, and taxable as business personal property.
Due to the uniqueness of each business, please contact the Auditor-Appraiser at (209) 533-5535 to discuss your business needs and operation.
Yes. All True Leases, Capitalized Leased Equipment, and Lease to Purchase Option Equipment, where the final payment has not yet been made, are reported in Part III on the front of the property statement, or as an attached listing if more space is required.
Capitalized or Purchase Option Leased Equipment, where the final payment has been made, must be reported in Schedule A at the original cost and original year acquired, not the buyout cost or year the final payment was made.
Business property not in use but located within the county is still assessable. If you have received a Business Property Statement you should complete it for the remaining property and add a letter of explanation as to where and what the remaining assets are.
Examples of reportable supplies are ordinary office, janitorial, manufacturing, fuel and chemical supplies; fuel, insecticides and fertilizer used by agricultural taxpayers; and medical supplies held by a doctor’s office to be given to patients, incidental to service, even if the samples were provided at no charge.
Put in the total amount of the retail value of supplies you had on hand on January 1st. If you are not sure, make an estimate of the amount you normally keep on hand.
When signing, please remember that it is important to complete all the areas of the “Declaration by Assessee” in order to validate a signature.
The declaration must be signed by either the assessee/owner, a duly appointed fiduciary, or a person authorized to sign on behalf of the assessee such as: a member of the bar, a certified public accountant, a public accountant, an enrolled agent, a partner, corporate officer, LLC manager or managing member, or other person as defined by the State of California Board of Equalization.
In the case of a corporation: the declaration can be signed by an authorized employee or agent who has been designated to sign on behalf of the corporation, by the Board of Directors, by name or by title, only if a valid Agency Authorization has been filed with the Assessor.
In the case of a partnership, the declaration can be signed by an authorized employee or agent who has been designated to sign on behalf of the partnership, by name or by title, only if a valid Agency Authorization has been filed with the Assessor.
In the case of a Limited Liability Company (LLC), the declaration can be signed by an authorized employee or agent who has been designated to sign on behalf of the LLC manager or by the members, by name or by title, only if a valid Agency Authorization has been filed with the Assessor.
When a declaration is signed by an employee or agent, other than a member of the bar, a certified public accountant, a public accountant, an enrolled agent or a duly appointed fiduciary, the assessee’s written Agency Authorization form to authorize the employee or agent to sign the declaration on behalf of the Assessee must be filed with the Assessor. The Assessor may at any time require a person who signs a property statement and who is required to have written authorization to provide proof of authorization.
A Business Property Statement that is not signed and executed in accordance with the foregoing instructions is not considered a valid filing. The penalty imposed by section 463 of the California Revenue and Taxation Code for failure to file is applicable to non-valid or unsigned Business Property Statements.
Depreciation tables are set for different types of equipment and are based on the annual Equipment and Fixtures Index, Percent Good and Valuation Factors approved by the California State Board of Equalization, Assessor’s Handbook 581. Equipment is depreciated based on the equipment’s original cost and type and year of acquisition to arrive at the fair market value.
Equipment Factors and Classifications.
You may call, email, or write the Assessor’s Office to discuss the value and make a written request for an informal review. Please note that if the value was the result of an estimated assessment made by the Assessor for failure to file a property statement by May 7, of each year, you will need to complete and return a Business Property Statement with your request for an informal review.
You can file an Assessment Appeal Application online or by calling (209) 533- 5521. In order to appeal an assessment, you must file an Assessment Appeal Application with the Clerk of the Board between July 2nd November 30 (or the next business day if the November 30 falls on a weekend or holiday).
Should your value notice be the result of an Escape Assessment, you have 60 days from the date of the Notice of Enrollment of Escape Assessment to file an Assessment Appeal Application.
You are responsible for all bills while the appeal is in review which can take up to two years.
Please complete, sign, date, and return a Business Property Statement to the Tuolumne County Assessor’s Office. Under California Law, the owner of assessable business property at 12:01 a.m., January 1st (lien date) is responsible for taxes and must be assessed at full value. Sale, closure, or disposal of property after the lien date does not relieve the Assessee of the obligation to report and pay taxes. Proration is not determined by the Assessor’s Office; this should be determined between the buyer and seller.
Please complete, sign, date, and return a Business Property Statement to the Tuolumne County Assessor’s Office. Based upon that statement, a review of your assessment will be completed. If business property is still located within the county, it may still be assessable. Non-use or storage of a business asset is not the determining factor for its assessability.
No. Unsecured bills are never prorated regardless of the disposal date. Proration of taxes should be done between the buyer and seller at the time of sale.
Bankruptcy does not relieve the Assessor of determining a fair market value. Assessed value and payment of taxes are separate issues. Please contact the Tuolumne County Tax Collector at (209) 533-5544 for issues regarding whether payment is required after bankruptcy.
The bill is not for real property such as the land or building. It is for the business personal property and fixtures used in the operation of a business such as desks, computers, counters, tables, stoves, and racking.
For additional information on Business Property, please visit the California State Board of Equalization.