Enlarge image | PLEASE TAKE A MINUTE TO READ THIS IMPORTANT LETTER. SEE REVERSE FOR IMPORTANT TAX LAW CHANGES. Dear Business Owner: Enclosed you will find a Business Property Statement. This information is due annually and as such I respectfully request that you complete the statement and return it to my office as soon as possible. This is your declaration of property situated in San Mateo County at 12:01 a.m. on January 1, 2019. Failure to comply with these instructions may subject you to a penalty pursuant to Section 463 of the California Revenue and Taxation Code. The Business Property Statement is a “general” form and is sent to a wide variety of business concerns. As such, you may find that portions of the form are not applicable to your business. Instructions are enclosed which offer some completion guidelines. If you have moved to a new location within the county, please correct the situs address of your business. If you have moved out of the county, sold your business or gone out of business, pleasecomplete Business Change Form below. I urge you to make your statement as complete and accurate as possible. If you require assistance in completing this form, my office is available to help you. It is located at 555 County Center, Redwood City. For assistance please call 650.363.4501, email PPDutyAuditor@smcacre.org,or visit our website at www.smcacre.org. Sincerely, Mark Church Assessor – County Clerk – Recorder BUSINESS CHANGE FORM • SOLD YOUR BUSINESS SEE INSTRUCTIONS BELOW IF YOU HAVE • MOVED OUT OF COUNTY • GONE OUT OF BUSINESS If you no longer have property located within the county, please complete the form below; sign it, attach to statement form and return BOTH to this office immediately. If you have moved within the county, please make corrections to the Business Property Statement form. NAME ___________________________________________ ACCOUNT NO. ___________________ CURRENT LOCATION ADDRESS ________________________________________________________________________ SOLD BUSINESS CLOSED OUT BUSINESS DATE___________________________ NEW OWNER’S NAME ______________________________________________________________ MOVED OUT OF COUNTY _______________________ DATE ___________________________ PRIOR LOCATION __________________________________________________________________ SIGNATURE _________________________ PHONE NO. _______________ DATE ____________ |
Enlarge image | IMPORTANT TAX LAW CHANGE Revenue and Taxation Code Sections 480.1 and 480.2 requires legal entities (corporations, partnerships, limited liability companies, etc.) to file form BOE-100-B with the State Board of Equalization (Board) whenever there is a change in control or change in ownership of a legal entity and the entity owns California real property or leases it from a government entity for any term or from a private owner if the remaining term of the lease is 35 years or more. Effective January 1, 2010 the penalty provisions changed; entities must now file with the Board within 45 days of the event date or be subject to a late filing penalty (10% of the taxes on all the real property owned by the entity within each county). A change in control occurs when any person or entity obtains more than 50% of the ownership interest in the legal entity. A change in ownership is a transfer of ownership interests in an entity that results in a cumulative transfer of more than 50% of original co-owner interests in that entity; original co-owners status originates when property is excluded from reassessment under section 62(a)(2) in a prior transaction. Information on filing requirements and penalty provisions is available on the Board’s website at http://www.boe.ca.gov/proptaxes/leop.htm. (Note: Part I, question G of the Business Property Statement and Agricultural Property Statement asks about changes in control and real property ownership.) |