Business Personal Property
Every business owner is required by Alabama Law to file a Business Personal Property Return each year. It should list all equipment, furniture and fixtures used in the business. It should always include a value for supplies. The Return should be filed between the months of October and December each year. Penalties and fees are added after December 31.
October 1 is the lien date for all businesses. If you are open on October 1, your business is taxable for that tax year. The state of Alabama does not provide for proration should you close during the year. Therefore, the taxes will be charged for the entire year. Taxes are paid in arrears. If your business closed at any time during a previous year, you are still responsible for the taxes for that year. Taxes are due October 1 thru December 31 each year.
If your business closes, you should contact the Business Personal Property Division of the Revenue Commissioner’s Office. If you are incorporated and close your business, you should also file Dissolution papers with the Alabama Secretary of State’s Office.
If you purchase a business, always check with the Collection Department to see if the taxes are current. Should there be outstanding taxes and no arrangements are made with the person that sells you the business, you will be responsible for paying those taxes.
Airplane owners are required by Alabama Law to file a Personal Aircraft Return in the county where the airplane is based. These returns should be filed each year between the months of October and December.
Reminder that if you were in business on October 1, 2012, your 2013 taxes are due and DELINQUENT. If your business is now closed, be sure to check with the Business Personal Property Department to avoid another tax notice for 2014.
For questions please call: 256-549-8112
All Businesses, Corporations and LLC’ S are required to file a Business Personal Property Return assessing all machinery, equipment, furniture & fixtures between October 1st and December 31st of each year. If you have not filed, please do so immediately. A 10 % Penalty will be applied after the third Monday in january for late filing or failure to file.
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