April 17, 2013
By Gary Bingel, CPA and Roger Mierzwa, CPA
Each year based on January 1 information, the Massachusetts Department of Revenue (MA DOR) issues an Annual List of Corporations Subject to Taxation in Massachusetts. This list assists local assessors in determining which corporations are entitled to local personal property tax exemption benefits. Due to possible inaccuracies on information gathered manually, the Commissioner moved to a mandatory on-line electronic certification submission deadline for the “Annual Certification of Entity Tax Status” for each appropriate corporation which was initially due April 1, 2013. The MA DOR had extended this deadline to April 12, 2013.
What if you missed that April 12 deadline? There is a potential that your corporation, or other business entity classified as a corporation, is omitted from the Corporations Book and you may miss out of some of the corporate exemptions from the personal property tax base. Initially, you should monitor the website to see if your entity is correctly listed.
The list published in the DOR’s Corporations Book website is not a final binding determination and errors can be appealed by both the corporation and the local assessor within 30 days after the list is released. Because the filing deadline was extended, you still have some time to correct the situation by filing an appeal with the Appellate Tax Board. Also, see the WebFile for Business -- “Frequently Asked Questions” here.