• Wed. May 29th, 2024

Deadline to Submit Business Property Statements in Nevada County Approaches: Avoiding a 10% Penalty

BySamantha Nguyen

Mar 28, 2024
Assessor Advises Businesses to Submit Business Property Statement to Prevent Penalties

Business owners in Nevada County have until May 7, 2024, to file their Business Property Statement with the Assessor’s Office. The filing period is open from January 1 through April 1, and failure to do so can result in a 10% penalty. Business Property Statements can be filed electronically or by using a paper form.

If you receive a notice to file letter from the Assessor, you are required by law to either eFile your statement or complete, sign, and return a paper statement to the Assessor’s Office. Additionally, any business that owns Personal Property and/or Fixtures totaling $100,000 or more must file a Business Property Statement, regardless of whether the Assessor requests it.

Notice to file letters were sent out in late January with details for electronic filing. Using the eFile system allows businesses to save time and resources by carrying forward prior year acquisition cost information automatically. It also provides confirmation that the Business Property Statement has been successfully filed.

For those who prefer to file a paper statement, they can download the form through the e-filing web portal after receiving a notice to file letter. All information, including prior year costs, must be entered on the form annually. Paper forms must be completed, signed, and postmarked or delivered by the May 7 deadline to avoid a penalty. Paper Business Property Statements can be downloaded from Cal Assessor eForms by searching for “571-L”.

For more information or assistance with filing, visit the Business Property webpage or contact the Assessor’s Office at business

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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