If your business owns or leases equipment, furniture, or inventory, you may owe business personal property tax, and the rules aren’t always clear.
Most states (38 to be exact) tax tangible assets that aren’t real estate. That includes machinery, office furniture, supplies, and even leased equipment. But what’s taxable, how it’s valued, and when returns are due varies widely by state.
We Make It Easy to Stay Compliant
At DHJJ, we help businesses identify what’s taxable, where it needs to be reported, and how to avoid overpaying. Whether you’re filing in just one state or several, we make sure you meet all deadlines, minimize your tax liability, and keep clean records for audit protection.
Our Services Include:
- Identifying assets subject to personal property tax
- Preparing and filing state- and county-specific returns
- Verifying asset classifications to reduce overpayments
- Reviewing past filings for potential savings
- Monitoring compliance requirements for multi-state businesses
Why It Matters
Failing to file, or filing incorrectly, can lead to penalties, audits, or unnecessary tax bills. With personal property tax being one of the more overlooked state tax obligations, it’s easy to miss. Our team ensures your filings are accurate and timely, so you can focus on running your business.
SALT Services Include
Mitigate business risk and strategically plan for tax liabilities with state and local tax services from DHJJ that include:
- State tax returns
- Local tax returns
- Apportionment
- Business personal property tax
- Nexus studies
- Registration
- Simulated sales tax audits
- Voluntary disclosure
Areas We Service
Make your business stronger and your life simpler. Listed below are the areas we service! Please reach out if you do not see your location listed!
- Elk Grove Village, IL
- Joliet, IL
- Rockford, IL
- Elgin, IL
- Springfield, IL
- Peoria, IL
- Champaign, IL
- Waukegan, IL
Recent insights
Tax-Smart Retirement Planning for Business Owners
Key points Business owners have retirement plan options beyond standard IRAs. Solo 401(k)s, SEP IRAs, SIMPLE IRAs, and…
Developing a Long-Term Financial Vision in Times of Uncertainty
Key Points You can’t eliminate economic uncertainty but can prepare by setting clear goals and building flexible financial…
Operating Budget vs. Capital Budget: What’s the Difference and Why It Matters
Key Points: Operating budgets manage short-term expenses like payroll and rent, guiding day-to-day business decisions and supporting cash…
