If I am no longer in business, should I still file a return?
Every new business must file an initial tangible personal property tax return by April 1st of the year after the business opens. The initial return is required if the business owns or leases any personal property, without regard to the value of that personal property. In subsequent years, however, no return is required unless the combined value of all the business’ equipment is more than $25,000.
If you were not in business as of January 1st, you may notify the Property Appraiser's office in one of the following three ways:
1.Filing a return: Indicate the date you went out of business and the manner in which you disposed of your business assets. Remember, if you still have assets you must report them.
2.Emailing our office at email@example.com
3.Mailing a letter to one of our 3 locations.
If you sold the business, please provide the name and contact information of the buyer.