2023 Small Business Property Tax Exemption Claim Under-2025

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The document is the 2023 Personal Property Statement (Form L-4175) issued by the Michigan Department of Treasury, which requires taxpayers to report all assessable tangible personal property owned or possessed as of December 31, 2022. It outlines the necessary information to be provided, including details about the taxpayer's business, locations of personal property, and specific sections for reporting various types of assets. The form must be completed and returned to the local assessor by February 21, 2023, and includes instructions for exemptions and penalties for non-compliance.

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Click ‘Get Form’ to open the 2023 Small Business Property Tax Exemption Claim Under in our editor.
Begin by filling in the 'FROM' section with the name and address of your local assessor. Ensure accuracy to avoid processing delays.
In the 'TO' section, enter your legal name, business type (e.g., Sole Proprietorship, Partnership), and contact details. This information is crucial for identification.
List all locations of personal property in the designated area. If you have multiple locations, attach additional sheets as necessary.
Complete the 'Summary and Certification' section by answering all questions regarding exemptions and providing a signature to certify accuracy.
Review each section carefully, ensuring all fields are filled out correctly before submitting your form by February 21, 2023.

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Versions	Form popularity	Fillable & printable
2023	4.7 Satisfied (55 Votes)
2023	4.5 Satisfied (65 Votes)
2022	4.3 Satisfied (172 Votes)
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2019	4.3 Satisfied (262 Votes)

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What expenses can I put through my business?

Place of business rent of a business premises, such as an office or warehouse. utility bills, for example water and electricity. business rates and property insurance. security and cleaning, repairs and maintenance. purchase, repair and maintenance of business equipment, for example computers or printers.

Can you deduct property taxes as a business expense?

You can write off property tax for your business. This turns a fact-of-life into a strategic deduction that lowers your overall taxable income. Commercial landlords, self-employed workers and small business owners who own property solely for commercial intent can qualify for this deduction.

What expenses can be used for tax deductions?

You can deduct these expenses whether you take the standard deduction or itemize: Alimony payments. Business use of your car. Business use of your home. Money you put in an IRA. Money you put in health savings accounts. Penalties on early withdrawals from savings. Student loan interest. Teacher expenses.

How do I qualify for property tax exemption in Hawaii?

You are entitled to the home exemption if: You own and occupy the property as your principal home real property owned and occupied as the owners principal home means occupancy of a home in the city with the intent to reside in the city.

Who qualifies for property tax reduction in Idaho?

Who qualifies. You might qualify for a property tax reduction if all of these are true: Youre an Idaho resident. You own and occupy your home or mobile home, and the value doesnt exceed a limit set by law that will be calculated in June.

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What is the most overlooked tax break?

The 10 Most Overlooked Tax Deductions State sales taxes. Reinvested dividends. Out-of-pocket charitable contributions. Student loan interest paid by you or someone else. Moving expenses. Child and Dependent Care Credit. Earned Income Tax Credit (EITC) State tax you paid last spring.

What does a $12000 property tax exemption mean?

Veterans with a 100% disability rating are fully exempt from property taxes. 70% to 99% may receive a $12,000 exemption from their propertys taxable value.

What can you write off as a business expense on your taxes?

What Are Business Expense Categories? Business expenses include everything from paying rent and utilities to purchasing equipment and supplies to paying your employees. It can even include food and entertainment, travel, and purchasing office supplies.