It's that time again. Beg your king for tax forgiveness.
Perhaps someday, we won’t have to ask permission to opt out of buying our business equipment over and over.
For the time being however, if the business related property you own is less than $80,000 in true cash value, you must. IF you don’t feel like paying property tax on it. Our benevolent overlords have made it possible with Michigan Department of Treasury form 5076; that ‘golden ticket’ for small business which relieves them of the perpetual financial burden of fixture ownership.
Of course it is hardly an everlasting gobstopper of taxation relief. the 5076 form must be filed annually, and specifically with your local township, city or village taxing unit.
You have until February 10 to turn this sucker in.
"Perhaps someday, we won’t have to ask permission to opt out of buying our business equipment over and over."
Right, and it'll probably be about the time folks had enough paying sales tax on used vehicles, after all, those sonsabitches were taxed new.
Or taxes on real property since we already paid taxes on the money we used to purchase said real property.