All companies are required to file a Tangible Personal Property report. Once you file in your first year, if you are exempt from paying any tax (meaning your fixed assets are under $25,000 in total value), you will receive a post card "Exempting" your business from filing a TPP Return each year (for 4 more years). You must re-file every 5 years.
TPP Returns are being looked at more closely and fines for failure to file have been increased in 2019. Be aware that even fully depreciated assets must still be listed on a TPP Return. If you need to file a first-year return or update your return to remove assets disposed of or no longer in use, or add new items, please submit the following form so we can assist you. TPP Returns are due annually before April 1st. Our preparation fee for a TPP Return varies by the number of fixed assets you have and can range between $150 - $500 depending on complexity. Your County will tax you based on the report and send you an invoice if any tax is due.