LANSING—Sen. John Proos reminded residents that the deadline for small businesses to file for the new personal property tax exemption is Tuesday, Feb. 10.
According to the Small Business Association, small businesses provided 64 percent of net new private-sector jobs in the United States between 2002 and 2010.
Voters approved this exemption as Proposal 1 on the August 2014 ballot.
“I am proud that Michiganians supported this ballot initiative, because I believe it will help foster a positive, more attractive economic environment in our state,” said Proos, R-St. Joseph. “It will enable small businesses to hire more residents right here in Southwest Michigan and allow them to provide for their families.”
Small business owners can receive an exemption if the value of their personal property in a single jurisdiction is not more than $80,000.
The affidavit form can be found at www.michigan.gov/documents/treasury/5076_439273_7.pdf and must be filed with their city or township tax assessor.
Editor’s Note – Audio comments by Proos are available on the senator’s website at www.SenatorJohnProos.com. Click on “Audio” under the Media Center tab.