By: Doug Bend
Businesses in California are required to file a business property statement (Form 571-L) with their County Assessor by August 31st of each year if:
(1) the County Assessor’s Office sends the business a notice to file the statement or
(2) The business has taxable business property with a total cost of $100,000 or more.
The business property statement includes details of the cost of the company’s equipment, supplies, improvements and fixtures.
We recommend you contact your CPA if you need help filing the business property statement.
If you are not already working with a great CPA, please contact us at email@example.com and we would be happy to make a recommendation.
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