ROXANNE COFFELT TESTS INDIANA TAX PORTAL
Personal Property Tax Returns may be filed online in 2021
WARSAW, IN, October 30, 2020
Roxanne Coffelt recently was chosen by the Indiana CPA Society as one of a few sole practitioner CPAs to help test a new online system for the State of Indiana. The system will allow business taxpayers to file their Personal Property Tax (PPT) returns online. The first year (2021) there will be no fee to use the system. The state is planning to charge a nominal fee after the first year to cover the cost of the system. The system will keep track of the asset values from prior years, so once they are entered, only the asset additions will need to be added each year.
Personal Property is any property that a business owns that is not real estate. Motor vehicles and boats that are licensed and taxed separately are not subject to personal property tax. All businesses, including sole proprietorships and rental property owners, are expected to file PPT returns. They are normally filed with the county assessor’s office each May. Businesses with personal property under $40,000 are exempt from tax, but they are not exempt from filing the return.
This is all part of the state’s modernization effort. The new system, called Personal Property Online Portal (PPOP-IN) is expected to be available to taxpayers in January of 2021.
Roxanne Coffelt CPA LLC is a boutique CPA practice that strives to provide exemplary service in the areas of business valuation and related profit/growth/value consulting as well as litigation support. In addition to having her CPA license, Roxanne is certified in business valuation.
For further information contact Roxanne Coffelt, PO Box 751, Warsaw, IN 46581, Phone: 574-267-8853, Email: firstname.lastname@example.org