Available in All Idaho Counties
Taxscribe transforms tax management for business owners and CPAs in Idaho, streamlining the shift from paper forms to efficient online filing. Offering advanced user management, easy data import, intuitive form completion, smooth submission processes, and comprehensive analytics, Taxscribe makes tax filing easier. It ensures businesses of every scale effortlessly navigate Idaho’s tax compliance requirements.
Available Forms:
- - Personal Property Declaration
What is Business Personal Property?
Idaho law defines personal property as everything that’s the subject of ownership and that isn’t included within the term real property. Examples are tools, unattached store counters and display racks, desks, chairs, file cabinets, computers, office machines, and medical instruments.
Idaho law defines personal property as everything that’s the subject of ownership and that isn’t included within the term real property. Examples are tools, unattached store counters and display racks, desks, chairs, file cabinets, computers, office machines, and medical instruments.
Who should file a Personal Property Return?
Any business that owns personal property must report all of its taxable personal property to your county assessor using a personal property declaration form available from the assessor.
Any business that owns personal property must report all of its taxable personal property to your county assessor using a personal property declaration form available from the assessor.
When you should file:
You must return your personal property declaration to the county assessor by March 15.
You must return your personal property declaration to the county assessor by March 15.
Exemptions:
- Any stand-alone asset purchased after January 1, 2013, with a total acquisition cost of $3000.00 or less, does not need to be reported and will not be taxed.
- The first $250,000.00 of depreciated value is exempt from taxation. This exemption requires an application.
- Any stand-alone asset purchased after January 1, 2013, with a total acquisition cost of $3000.00 or less, does not need to be reported and will not be taxed.
- The first $250,000.00 of depreciated value is exempt from taxation. This exemption requires an application.
Important Notes:
- If you don’t report personal property, the county assessor must estimate the value of taxable personal property that isn’t declared. The assessment is based on the best information available. If you don’t pay your personal property tax on time, penalty and interest will apply to overdue taxes. Overdue taxes, accrued interest, and penalty are also a lien against your property.
- Contact your local assessor for more information.
- If you don’t report personal property, the county assessor must estimate the value of taxable personal property that isn’t declared. The assessment is based on the best information available. If you don’t pay your personal property tax on time, penalty and interest will apply to overdue taxes. Overdue taxes, accrued interest, and penalty are also a lien against your property.
- Contact your local assessor for more information.
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