Business Personal Property
Taxscribe for Connecticut Business Owners & CPAs
Modern personal property tax filing for Connecticut — prepare your return in minutes, import fixed assets, and e-file to participating jurisdictions or email a print-ready PDF to your local assessor.
What is Business Personal Property tax?
Personal property is defined as all tangible property that is not permanently affixed to real estate. This property includes but is not limited to unregistered motor vehicles, furniture, fixtures, equipment and supplies.
Who should file Business Personal Property?
In the State of Connecticut, all owners of taxable personal property are required to file declarations of such property to the local Assessor where their property is located.
- Filing deadline
- November 1st annually
- Late penalty
- 25% penalty of the assessment value when the declaration is not presented on or before November 1; there is no signature of owner or legal representative; an extension is granted and declaration is not filed on or before the extension deadline; or new taxable personal property is not declared but discovered by the town.
When you should file:
The declaration of personal property is due to the local Assessor by November 1st annually.
Extensions:
An extension to file the declaration can be requested in writing to the local assessor prior to November 1.
Exemptions:
There are several exemptions available for business owners, they include:
- Manufacturing & Machinery Exemption, Exemption claim must be filed annually
- Municipal Leased Property
- Mechanic's Tools assessed up to $500 value of 350 assessment exemption is available for businesses
- Class I Renewable energy. Exemption application is required.
- Water Pollution or Air Pollution Control Equipment – (Must include a copy of CT DEEP certificate)
- For a complete list of exemptions, please review the personal property declaration form page 7.
- Most tax exempt organizations must file a M3 TAX EXEMPT APPLICATION every four years to maintain their exempt status. Personal Property Declarations are filed every year. Please contact your local assessor for more information.
Important Notes About Business Personal Property:
- There is a 25% penalty of the assessment value when:
- The declaration is not presented on or before November 1
- There is no signature of owner or legal representative on the declaration
- An extension is granted and declaration is not filed on or before the extension deadline
- New taxable personal property is not declared but it is discovered by the town
- It is not acceptable to present declarations with the legend "Same as last year". The lack of information may result in an estimated assessment plus penalty.
Coverage
How Taxscribe works in Connecticut
Taxscribe supports Business Personal Property filing across Connecticut. Where your jurisdiction participates in Taxscribe's e-file program, you can submit directly; elsewhere, generate a print-ready PDF and email or mail it to your local assessor. Contact us to see if your jurisdiction participates.