Due to a new tax law (House Bill 315) that takes effect
immediately, businesses can exempt the first $100,000 of their personal
property value under one ownership in any county. Businesses with locations in
more than one county in Idaho can
exempt up to $100,000 of the personal property value in each county in which
the property is located.
Businesses with property in multiple locations in one county
have until May 1, 2013,
to submit location election forms to their county assessor(s) if they want to
choose the location (s) of the exempt property.
Businesses will receive the exemption based on the personal
property lists (declarations) already required to be filed with the county
assessor. If a business doesn’t have multiple locations or doesn’t want to
elect a particular location, there are no additional filing requirements.
Location election forms are available from county assessors
or from the Idaho State Tax Commission website at tax.idaho.gov.
Personal property generally is mobile and includes furniture
and office equipment. This exemption does not apply to buildings and
structures, and some personal property doesn’t qualify for this exemption. For
example, the exemption does not include mobile and manufactured homes.
Questions can be directed to your local county assessor – or to Alan Dornfest, (208) 334-7742 or Rick Anderson, (208) 332-6624 in the Tax
Commission’s Property Tax Division.
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