The 2024 Personal Property Tax System is now closed for year-end balancing and we cannot accept any transactions during this time. The Utah State Tax Commission defines tangible personal property as material items such as watercraft, aircraft, motor vehicles, furniture and fixtures.Every new business owning tangible personal property on January 1 must file an initial tax return. Mortgage companies begin to submit parcels for tax information. Provides a list of fees for alcohol, private clubs, business license renewal, automobiles, and other services. What creates physical nexus in the state of Utah? Physical nexus is established when your business has a tangible presence in Utah. Tangible Personal Property Tax is an ad valorem tax assessed against the furniture, fixtures and equipment located in businesses and rental property. The tangible personal property tax return. New York tax law imposes sales tax on the receipts of every retail sale of tangible personal property.