Avoiding Penalties: Businesses Must File their Property Statements by May 7th in Nevada County”.

Nevada County Assessor urges businesses to submit Business Property Statements promptly to avoid fines.

The deadline for business owners in Nevada County to file their Business Property Statement with the Assessor’s Office is fast approaching. With just under five weeks left until May 7, 2024, businesses must act quickly to avoid a penalty. They have two options: they can file electronically or by using a paper form.

If a business receives a notice to file letter from the Assessor, they must either eFile their statement or complete, sign, and return a paper statement. Additionally, any business that owns Personal Property and/or Fixtures totaling $100,000 or more in combined cost is required to file a Business Property Statement, even if not specifically requested to do so by the Assessor.

Notice to file letters were mailed out in late January and contain all necessary information for electronic filing. Filing electronically has benefits such as automatic carryover of prior year acquisition cost information, saving time and resources for businesses. Additionally, businesses will receive confirmation that their Business Property Statement has been successfully filed, providing peace of mind to the business owner.

Businesses can download a paper Business Property Statement through the e-filing web portal if they have received a notice to file letter. All necessary information must be entered on the form each year. Paper forms need to be filled out, signed, postmarked or delivered to the Assessor’s Office by May 7 deadline to avoid a penalty. These paper forms can be downloaded from Cal Assessor eForms by searching for “571-L” to find a fillable form.

For additional information or assistance, business owners can visit the Business Property webpage. If they need a re-sent notice to file letter or have any questions

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