Approaches to business and personal property tax filing deadlines
The deadline for business owners to file a declaration of personal ownership with the Larimer County Assessor’s Office is April 15. Still, business owners received good news this year.
On January 1, 2022, the threshold for business owners to file a business personal property disclosure schedule on their business personal property was increased from $7,900 to the current market value of $50,000.
Businesses with less than $50,000 in personal business assets do not have to file a schedule. The deadline for filing a disclosure schedule for businesses with personal property worth more than $50,000 is April 15. Businesses can file their returns online using the Business Personal Property Larimer County link. Around 500 companies have already used the new electronic declaration tool to file their declarations.
“Thanks to the Colorado Legislature’s passage of HB-21-1312 to help small businesses save taxes and innovations from the Larimer County Assessor’s Office, businesses filing superior corporate personal property at $50,000 will have a very streamlined process this year,” said appraiser Bob. Overbeck.
Personal business property is defined as equipment used in your business and must be included in a
Filing of declaration:
Need more information? Call 970-498-7050 or visit Company Personal Property on the Larimer County website.