Form 457 application 2025

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The document is an application form (Form 457) for nonprofit organizations to request exemption from motor vehicle taxes. It outlines the eligibility criteria, required information about the organization and vehicles, and instructions for filing the application with the county treasurer. The form emphasizes that vehicles must be used exclusively for exempt purposes and details the appeal process if an exemption is denied.

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Click ‘Get Form’ to open the form 457 application in the editor.
Begin by entering the name of your organization and the tax year in the designated fields. Ensure accuracy as this information is crucial for processing your exemption.
Fill in the owner’s name, county name, and state where incorporated. Provide a complete mailing address including street, city, state, and zip code.
In the 'Type of Ownership' section, select the appropriate category that describes your organization (e.g., Educational Organization, Charitable Organization).
Describe each motor vehicle you are applying for exemption. Include details such as make, model year, vehicle ID number, and body type. If necessary, attach an additional sheet.
Indicate whether the vehicles are used exclusively for exempt purposes by marking 'YES' or 'NO'. If 'NO', provide the percentage of exempt use.
Finally, ensure that an authorized individual signs and dates the application before submission to your county treasurer.

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Versions	Form popularity	Fillable & printable
2021	4.8 Satisfied (196 Votes)
2020	4.2 Satisfied (58 Votes)
2019	4.3 Satisfied (265 Votes)
2018	4.3 Satisfied (87 Votes)
2011	4.4 Satisfied (407 Votes)

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Do I need to report 457 on my taxes?

Distributions to a participant or former participant during a taxable year under a 457(b) plan are reported on Form W-2, Wage and Tax Statement, in the manner described in the instructions to that form. See also Rev. Rul.

What is the 3 year rule for 457 catch up?

If eligible for the 3-Year Catch-up provision, you may qualify to contribute up to twice the regular annual contribution limit during the three years prior to, but not including, the year you will reach normal retirement age.

What are the downsides of a 457 plan?

Cons of 457(b) plans: Fewer investing options than 401(k)s (Not as common today) Only available to certain employees employed by state or local governments or qualifying nonprofits. Employer contributions count toward the annual limit. Non-governmental 457(b) plans are riskier.

Can I set up my own 457?

Who can establish a 457(b) plan? The organization must be a state or local government or a tax-exempt organization under IRC 501(c).

How much tax will I pay on my 457 withdrawal?

One-Time Withdrawals This payment is immediately taxable (see the note below) and is subject to mandatory 20% federal income tax withholding. State income tax withholding may also apply. Complete section 2 of the 457 Basic Withdrawal form.

What happens to 457b after leaving a job?

But with a 457b, as long as you are no longer with your employer, there is no 10% penalty for early withdrawal. Even if youre working for a different employer. You will still pay income tax on it, but no additional penalty.

What is a 457 form?

About 457 Plans 457(f) plans: These are ineligible deferred compensation plans that dont satisfy one or more of the statutory requirements applicable to 457(b) plans, often by exceeding the amount that may be deferred under the plan.

Form 457 application 2025

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