The Assessor of Nevada County, Rolf Kleinhans, is reminding business owners that they have until May 7th to file their Business Property Statement. The filing period is open from January 1st through April 1st, with the deadline being May 7th, 2024. Failure to file on time will result in a 10% penalty.
Businesses can choose to file their Business Property Statements (BOE 571-L) either electronically or by filling out a paper form. If they receive a notice to file letter from the Assessor, they must either eFile their statement or complete, sign and return a paper statement to the Assessor’s office by May 7th. Additionally, any business that owns Personal Property and/or Fixtures with a total combined cost of $100,000 or more must file a Business Property Statement even if not requested by the Assessor.
Electronic filing offers many benefits such as automatic carry forward of prior year acquisition cost information and confirmation that the statement has been successfully filed. Businesses who opt for electronic filing received notice to file letters in late January with all necessary information for eFiling. On the other hand, those who prefer to mail their paper statements can download them through the e-filing web portal if they have received a notice to file letter. It is important to note that all information including prior year costs must be entered on the form each year. Paper forms must be filled out, signed and postmarked or delivered to the Assessor’s office by May 7th or else they will be subjected to a 10% penalty.
For more information about filing requirements and deadlines, business owners are encouraged to visit the Business Property webpage. If they need further assistance such as re-sent notice
