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This document details the review process and final determination regarding Bushey's Renovation Concepts' application for the Enterprise Zone Business Personal Property Tax Credit for the 2003 assessment

How to fill out 613952150 form

How to fill out Claim for Enterprise Zone Personal Property Tax Credit

1. Obtain the Claim for Enterprise Zone Personal Property Tax Credit form from your local tax authority's website or office.
2. Read the instructions carefully to understand eligibility criteria and required documentation.
3. Fill in your personal information, including name, address, and contact details in the designated sections of the form.
4. Provide details of the personal property you are claiming the credit for, such as type, value, and location.
5. Attach any required documents proving your eligibility, such as proof of property ownership and evidence of enterprise zone designation.
6. Review the completed form for accuracy and completeness to avoid delays.
7. Submit the form before the specified deadline, either by mail or electronically, as directed.

Who needs Claim for Enterprise Zone Personal Property Tax Credit?

1. Businesses operating within designated enterprise zones that own personal property subject to local taxation.
2. Taxpayers seeking to reduce their property tax liability through available credits offered by the state or local government.

People Also Ask about

Can you claim personal property taxes on your tax return?

Personal property taxes You can deduct the tax you pay on personal property — like cars and boats. Personal property tax — also called an excise tax — is based on the value of these personal items. To deduct property taxes, all of these must apply: The tax is imposed on personal property.

Who qualifies for NYS real property tax credit?

The real property tax credit may be available to New York State residents who have household gross incomes of $18,000 or less, and pay either real property taxes or rent for their residences. The amount of the credit for each household will vary depending on income and real property taxes paid (see table to the right).

How to claim Colorado Enterprise Zone tax credit?

How to qualify for and claim this credit Complete the pre-certification application on the OEDIT application portal(opens in new window). Complete the certification application on the OEDIT application portal(opens in new window). File Colorado income taxes and include certification documents.

What is homestead property tax credit claim?

California exempts the first $7,000 of residential homestead from property taxes. Colorado allows a 50% deduction for up to the first $200,000 (equivalent to a $100,000 exemption if the property is valued at $200,000 or above) for seniors (over age 65) who have lived in their property for ten consecutive years.

What is a property tax credit claim?

Homeowners who itemize their tax returns can deduct property taxes they pay on their main residence and any other real estate they own. This includes property taxes you pay starting from the date you purchase the property. The official sale date is typically listed on the settlement statement you get at closing.

What does it mean to claim a credit on your taxes?

A credit is an amount you subtract from the tax you owe. This can lower your tax payment or increase your refund. Some credits are refundable — they can give you money back even if you don't owe any tax. To claim credits, answer questions in your tax filing software.

Is a tax credit good or bad?

Tax credits are generally considered to be better than tax deductions because they directly reduce the amount of tax you owe. The effect of a tax deduction on your tax liability depends on your marginal tax bracket.

Does everyone get a property tax refund in MN?

There are two types of property tax refunds in Minnesota. One is income based and you may apply for this if your household income is less than $128,280; you owned and occupied a home in Minnesota; are filing a refund for 2021 or later; did not rent out your home; and did not use your home for business.

For pdfFiller’s FAQs

What is Claim for Enterprise Zone Personal Property Tax Credit?

The Claim for Enterprise Zone Personal Property Tax Credit is a tax incentive program designed to encourage business investment in designated enterprise zones by providing tax credits for personal property taxes paid on qualifying property.

Who is required to file Claim for Enterprise Zone Personal Property Tax Credit?

Businesses that own qualifying personal property located in an enterprise zone and who have paid personal property taxes on that property are required to file this claim to receive the tax credit.

How to fill out Claim for Enterprise Zone Personal Property Tax Credit?

To fill out the claim, businesses need to complete the required forms, provide information about the property and the tax paid, including the property tax assessments, and submit the claim to the appropriate state or local tax authority.

What is the purpose of Claim for Enterprise Zone Personal Property Tax Credit?

The purpose of this claim is to promote economic development by reducing tax burdens on businesses in designated areas, thereby incentivizing them to invest in and improve properties within the enterprise zones.

What information must be reported on Claim for Enterprise Zone Personal Property Tax Credit?

Information that must be reported includes the business's identification details, the location and description of the personal property, the amount of personal property tax paid, and any other required documentation to validate eligibility for the tax credit.