Form 632 (L-4175) Personal Property Statement - Michigan

What Is Form 632 (L-4175)?

This is a legal form that was released by the Michigan Department of Treasury - a government authority operating within Michigan. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 632 (L-4175) Personal Property Statement?
A: Form 632 (L-4175) Personal Property Statement is a document used in the state of Michigan to report personal property for taxation purposes.

Q: Who needs to file Form 632 (L-4175) Personal Property Statement?
A: Businesses and individuals in Michigan who own personal property with a total true cash value of $80,000 or more are required to file this form.

Q: What is considered personal property for the purpose of this form?
A: Personal property includes items such as furniture, fixtures, machinery, equipment, tools, and leasehold improvements that are used for business or rental purposes.

Q: When is the deadline to file Form 632 (L-4175) Personal Property Statement?
A: The form must be filed annually by February 20th.

Q: Are there any exemptions or exclusions for certain types of personal property?
A: Yes, there are exemptions and exclusions for certain types of personal property. It is recommended to consult the instructions for Form 632 (L-4175) for more information.

Q: What happens if I fail to file Form 632 (L-4175) Personal Property Statement?
A: Failure to file the form may result in penalties or assessments of additional taxes by the local assessor.

Q: Is there any additional documentation required to be submitted with Form 632 (L-4175) Personal Property Statement?
A: It is recommended to consult the instructions for Form 632 (L-4175) to determine if any additional supporting documentation is required based on specific circumstances.