On Thursday, 5/25/17, the Governor signed, with immediate effect, a bill to extend the opportunity for you to file for your share of the MMA-led $576 million annual Personal Property Tax (PPT) cut until Wednesday, 5/31/17. If you missed out on the original February deadline, now is your chance to qualify for this high-value tax cut.
Check out the PPT Savings Tool Kit for the resources you’ll need in order to file Form 5278 before Wednesday’s deadline. Remember, even if you filed last year, you must file again for 2017.
Inside the PPT Savings Tool Kit, you’ll find:
- Form 5278, the form you must file in order to claim your 2017 PPT exemption
- Links to resources such as Frequently Asked Questions and other step-by-step tools from Michigan’s Department of Treasury
- Information to determine your company’s eligibility
- Essential deadlines for the rest of 2017
- Third party software providers who can help walk you through the exemption filing process
Remember, this tax cut does not occur automatically. The exemption claim form 5278 must be in the hands of your local assessor (not simply postmarked) no later than this Wednesday, 5/31/17.