Business Personal Property

Taxscribe for Michigan Business Owners & CPAs

Explore the cutting-edge of business tax filing in Michigan with Taxscribe. Crafted for businesses and CPAs embracing digital tax filing, Taxscribe delivers advanced functionalities to enhance filing processes across diverse jurisdictions.

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Form L-4175 Business Personal Property Statement Form
Form 5076 Small Business Property Tax Exemption Form

What is Business Personal Property tax?

Business Personal Property tax in Michigan pertains to the assessment of all tangible personal property not exempted by law. This includes furniture, signs, machinery, and equipment utilized by businesses within the state.

Who should file Business Personal Property?

All businesses in Michigan are mandated by state law to report their personal property to the Assessor. This applies to entities of varying sizes and industries operating within the taxing jurisdiction.

Filing deadline: by the statutory due date
Exemption: Exemption applicable to businesses with less than $80,000 in personal property. Businesses with True Cash Value of $80,000–$180,000 also qualify if filing annually.

When you should file:

Form L-4175, used for reporting assessable personal property and tax filing in Michigan, must be submitted to the assessor of the local unit where the property is located by the statutory due date. Even if a business possesses no assessable property, the completion and return of Form L-4175 are still required.

Important Notes About Business Personal Property:

Businesses must utilize Form L-4175 for reporting personal property, while small businesses eligible for exemption under certain thresholds can file Form 5076.

Business Personal Property Statement Form

State law mandates that all businesses must report their personal property to the Assessor. Business personal property includes all furniture, signs and equipment used by a business located in the city. Form L-4175 (PDF) is used to report personal property for most businesses.

Small Business Property Tax Exemption Form

The exemption is applicable to businesses with less than $80,000 in personal property. However, businesses with a True Cash Value (TCV) of $80,000 – $180,000 also qualify, provided they file annually with a BPP Statement Form to receive the exemption. Initially, you must file Form 5076 (PDF), which is a one-time requirement. If your personal property no longer falls below the threshold, you must file a rescission of Form 5076 (PDF) and submit a personal property statement.

Coverage

How Taxscribe works in Michigan

Taxscribe supports Business Personal Property filing across Michigan. 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.