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Forms Menu Reset Form Michigan Department of Treasury, LTD 2599 (6-01) Formerly T-1063 Main Menu Issued under P.A. 237 of 1994, as amended. Filing is required if you wish to receive an exemption.
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What is farmland exemption - banks?
Farmland exemption - banks refers to a tax exemption granted to banks that occupy or own farmland. This exemption allows banks to avoid paying property taxes on the farmland they use for banking operations.
Who is required to file farmland exemption - banks?
Banks that occupy or own farmland are required to file for farmland exemption - banks. This exemption is specific to banks and not applicable to other types of businesses or individuals.
How to fill out farmland exemption - banks?
To fill out the farmland exemption - banks application, banks need to gather specific information regarding their farmland holdings, such as property identification numbers, acreage, and the purpose of land use. This information is typically reported to the local tax authority or assessor's office.
What is the purpose of farmland exemption - banks?
The purpose of farmland exemption - banks is to provide financial benefits to banks that utilize farmland for their operations. It helps reduce the financial burden on banks by exempting them from paying property taxes on the farmland they use.
What information must be reported on farmland exemption - banks?
On the farmland exemption - banks application, banks are typically required to report information such as the property identification numbers of the farmland, the total acreage they occupy or own, and the specific purpose for which the land is used for banking operations.
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