Small Business Taxpayer Exemption
2020 Small Business Property Tax Exemption Form 5076
Guide to the Small Business Taxpayer Exemption
All qualified taxpayers must file in 2019 to claim the Personal Property Small Taxpayer exemption. Once granted they will continue to receive the exemption until they no longer qualify for the exemption. Postmark is acceptable.
Once they no longer qualify, the taxpayer is required to file a rescission form 5618 and a personal property statement form 632 no later than February 20th of the year that the property is no longer eligible. Failure to file the rescission form will result in significant penalty and interest as prescribed by P.A. 132 of 2018.