Get Form 571 L

The Business Property Statement is used for reporting all business equipment, supplies and fixtures for each business location along with other important information. The information provided on the statement is used to assess and tax property in ance with California State Law.

California's property tax rate is 1% of assessed value (also applies to real property) plus any bonded indebtedness voted in by the taxpayers.

Report all those business assets used in your business as of January 1. Business assets include, but are not limited to: Machinery and Equipment, Office Furniture and Equipment, Computers, Tools, Molds, Dies, Jigs, fixtures, and Supplies on Hand. * Cost includes sales tax, freight and installation.

The Form 571L or 571A constitutes an official request that you declare all assessable business property situated in this county which you owned, claimed, possessed, controlled or managed on the tax lien date. The form is approved by the State Board of Equalization (BOE) but forms are administered by the county.

This 571 L is the form that companies' file with their local county assessor. This lists of all of their non-real estate related property and equipment (machinery, computers etc.). The county assesses a tax on this equipment equal to about 1.11% of its depreciated value.

DECLARATION BY ASSESSEE. The law requires that this property statement, regardless of where it is executed, shall be declared to be true under penalty of perjury under the laws of the State of California.

Business Property Statement (571-L Forms) Businesses are required by law to file an annual Business Property Statement if their aggregate cost of business personal property exceeds $100,000, or if the Assessor requests the information.