This form is a simple model for a bill of sale for personal property used in connection with a business enterprise. Adapt to fit your circumstances.
Business Personal Property Form 103 In Salt Lake
Category:
State:
Multi-State
County:
Salt Lake
Control #:
US-00167
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Business Personal Property Tax is a tax assessed on tangible personal property businesses own. This type of property includes equipment, furniture, computers, machinery, and inventory, among other items not permanently attached to a building or land.
Generally, personal property used in business is subject to property taxes. Utah law requires business personal property to be reported to the county assessor where the property is located (has situs) on a tax form identified as a Personal Property Signed Statement.
Your property tax bill is calculated by multiplying your taxable property value by each taxing entity's tax rate and then summing those amounts. Who determines property values in Utah county? The value and property type of your home or business property is determined by the Utah County Assessor.
Recent Trends in Tangible Personal Property Taxation State2006 Personal Property2017 Personal Property California 4.11% 5.20% Colorado 12.06% 6.90% Connecticut 6.09% 13.28% Florida 7.43% 7.00%29 more rows •
The Utah State Tax Commission defines tangible personal property as material items such as watercraft, aircraft, motor vehicles, furniture and fixtures, machinery and equipment, tools, dies, patterns, outdoor advertising structures, and manufactured homes.
Personal Property is taxed based on its taxable value as of January 1 of each year. In order to value personal property, the Utah State Tax Commission provides personal property classification schedules which are used by all county assessors in Utah.
In general, business personal property is all property owned, possessed, controlled, or leased by a business except real property and inventory items. Business personal property includes, but is not limited to: Machinery. Computers. Equipment (e.g. FAX machines, photocopiers)
WHICH STATES DO NOT TAX BUSINESS PERSONAL PROPERTY? North Dakota. South Dakota. Ohio. Pennsylvania. New Jersey. New York. New Hampshire. Hawaii.
More info
The 2024 Personal Property Tax System is now closed for year-end balancing and we cannot accept any transactions during this time. NOTE: You must use Form 103 – Long if: a.You are a manufacturer or processor; b. Sales tax is applied to retail sales and leases of tangible personal property, products transferred electronically, and certain services. INSTRUCTIONS: This form must be filed with the township assessor, if any, or the county assessor of the county in which the property is located not later. Forms drop-off or pick-up. Lower your costs and stress with solutions that protect your business from risk. We offer one of the most extensive product lines of specialty chemicals and ingredients in the industry. Learn about Univar Solutions. If you're as passionate about the possibilities as we are, discover the best digital opportunities for your business.
